Key metricsKey metrics
PricePrice$0.0328

Loom (LOOM) Information{coin_name} ({symbol}) Information

The LOOM token acts as a lifetime membership card to all DApps running on Loom Network. It allows you to transfer your data and digital assets between Loom DAppChains and the Ethereum mainnet. Currently you need only 1 LOOM, but in the future, higher membership tiers will be introduced.

Team OverviewTeam Overview

James
Co-Founder
Luke
Co-Founder
Matt
Co-Founder
Mike
Head of Business Development

Questions and AnswersQuestions and Answers

What Is Loom Network?
Loom Network is building a fundamental infrastructure platform to help Ethereum scale. It allows developers to run large-scale applications, and is the first Ethereum scaling solution to be live in production. In short, you can think of Loom Network as EOS on top of Ethereum. The Loom SDK The fundamental building block of Loom Network is an SDK that allows developers to quickly build their own blockchains without having to understand blockchain infrastructure. Think of it like a “build your own blockchain” generator. DAppChains: Each DApp on its Own Sidechain The Loom SDK generates what’s called a DAppChain — a Layer 2 blockchain that uses Ethereum as its base layer. Running each DApp on its own sidechain to Ethereum has a number of benefits, but most importantly: DAppChains can use alternative consensus rulesets (like DPoS) that optimize for high scalability. Using Ethereum as a base layer means DAppChain-based assets (like ERC20 and ERC721 tokens) can have the security guarantees of Ethereum, especially when backed by Plasma.
Understanding DAppChains
To better understand our core thesis on scaling and the benefits of DAppChains, read these two articles: DAppChains: Scaling Ethereum DApps Through Sidechains Million User DApps on Ethereum: An Introduction to Application-Specific Sidechains
The data of DApps running on Loom DAppChains is public and shareable.
With a traditional game or web service, if the developers decide to launch an update that users do not agree with or ban/censor an account, nothing can be done about it (except for filing a support ticket). Any data such as game progress up to that point in the game is impossible to access again. With a DAppChain, on the other hand, running a node gives its users a full copy of all the data since the DAppChain’s Genesis Block. This shareable and public data also allows for further innovation and the surfacing of entirely new concepts, such as two games sharing the same state. You could have a World of Warcraft-type game, where the world is created by players in a Minecraft-type game. The actions of the players in each world would affect the world of the other game. Developers could release a new game that uses character data from another game world stored on a DAppChain. That way, new users of the game could immediately jump into a new world with their existing characters and assets (essentially airdropping your old game’s data to the new game).
The LOOM Token
We have an article specifically devoted to explaining what the LOOM token is and how it works: https://medium.com/loom-network/loom-token-faqs-you-got-questions-we-got-answers-2d3c9185b4d0
What Progress Has Loom Network Made So Far?
The First DAppChain Went Live on March 14, 2018 You can try it out at DelegateCall.com — it’s similar in architecture to Steemit, but instead of being a blogging platform, it’s a Q&A site related to blockchain and Ethereum programming. On DelegateCall, you earn karma points when your questions and answers get upvoted, which are redeemable for an ERC20 token on Ethereum mainnet. Thus you can earn real money by contributing instead of just useless karma points. Try it out yourself by signing up and asking a question to see an example of how performant DAppChain-based DApps can actually be in production — it feels just like a normal web 2.0 app, even though it’s running 100% on the blockchain. Then check out the DelegateCall block explorer to watch the DelegateCall DAppChain get updated with your question in real-time.
What is DelegateCall?
DelegateCall is a Q&A site for Blockchain and Ethereum-related questions that runs fully on a Loom DAppChain. Users earn karma points when their questions and answers get upvoted. But unlike traditional Web 2.0 sites, on DelegateCall these karma points can be redeemed for a tradable ERC-20 “DelegateCall token” on Ethereum mainnet, allowing users to earn rewards proportional to their contributions to the site. You can think of DelegateCall as a mix between Steemit and StackOverflow, backed by Ethereum.
Bonded to Ethereum via a Relay
DPoS tends to have a bad rap in the blockchain community, because it’s less decentralized than PoW and PoS. This is a valid concern, but DPoS is also capable of handling a much higher transaction throughput per second than more decentralized consensus algorithms. So we have a bit of a conundrum. DApps need high throughput to rival traditional web apps (Twitter, for example, experiences 7,000 tweets per second). However, standalone DPoS blockchains will never be as trustworthy as a PoW blockchain like Ethereum. DappChains work around this issue by having the DPoS blockchain bonded symbiotically to a corresponding Ethereum Smart Contract via a Relay. Functioning as a single unit, users can transfer/trade their assets on Ethereum as simple ERC-20 Tokens while the application layer remains decentralized, fast, and cheap to use. The final result, as seen on DelegateCall, is a decentralized application on a scale that’s simply isn’t possible on Ethereum alone. Secure, standard-conforming, decentralized asset handling while retaining cheap and speedy transactions.
How does the DelegateCall.com website fit in?
You can think of DelegateCall.com as a convenience layer for interacting with the underlying DAppChain. While you don’t have to use the website to interact with the DelegateCall blockchain, it provides a convenient UI for doing so. (Similar to Steemit.com for Steem, or MyEtherWallet / EtherScan for Ethereum). The website is a Ruby on Rails app that reads from a cache of the underlying DAppChain data. The read-only cache (made up of a MySQL database and Elasticsearch) is simply a mirror of the data in the blockchain, and is updated every time a new block is published. The cache exists so the website can serve pages just as quickly as a standard web 2.0 app. When you go to DelegateCall.com, the data you’re seeing is pulled from this MySQL cache. The site also serves you a copy of the DelegateCall client built on Loom.js. Loom.js is a common interface layer for Loom DAppChains that’s responsible for signing transactions on the client side and formatting these transactions in the format the DAppChain is expecting them. You can think of it as the equivalent of Ethereum’s web3.js for Loom Network DApps. When you perform an action on the site (upvote an answer, post a comment, etc.), rather than sending the data to the DelegateCall.com web-server like a traditional web app would, instead Loom.js broadcasts your transaction directly to the DelegateCall DAppChain. Then there’s a worker process on DelegateCall.com that’s constantly listening for changes in the blockchain, and posting these new transactions simultaneously to the MySQL cache as well as Elasticsearch, so the changes on the underlying blockchain are reflected on DelegateCall.com.
LOOM Token Utilization
As we move forward and build out our tech, we’re constantly looking for additional ways to add more utility to the LOOM token. Two areas we’re most excited about here are around PlasmaChain and the Marketplace for Zombie Battleground (as well as other game items in the future). For PlasmaChain, we are going to open up staking later this year to become a validator of the chain. Validators will need to stake a large amount of LOOM tokens, and in turn will earn the LOOM fees paid by the developers who are hosting their DApps on PlasmaChain, as well as commission fees from the Marketplace. The second area we see driving high utilization in the near future is the Marketplace for Zombie Battleground. Users will pay a commission on every trade, but will get a large percentage of those commissions instantly refunded as “cashback” rewards in LOOM tokens, which we will be buying off the open market. LOOM will also be a native currency on the Marketplace, to be used for buying and selling items.
What is a DAppChain?
Loom Network allows developers to build large-scale games and social apps by using DAppChains — DApps running as their own sidechains. More specifically, a DAppChain is an Application Specific Sidechain, that runs parallel to a mainchain, Ethereum in this case. Its ruleset is customized based on the use-case, and its security is maintained by the mainchain’s consensus algorithm.

TechnicalTechnical

Key metricsKey metrics
PrivacyPrivacyPseudonymous
AlgorithmAlgorithmEthash
ProofProofProof of work
Token InformationToken Information
Loom is a token on the ETH platform using the ERC-20 standard. The address of the token contract is 0xA4e8C3Ec456107eA67d3075bF9e3DF3A75823DB0.

Source Code Repositories

loomnetwork/cryptozombie-lessons 488 Stars 118 Contributers 64 Open Issues

Lesson content for cryptozombies.io

loomnetwork/plasma-cash 265 Stars 11 Contributers 17 Open Issues

Plasma Cash Contract & Client. ERC721, ERC20, and ETH compatible

loomnetwork/loom-js 181 Stars 17 Contributers 34 Open Issues

JS library for building browser apps & NodeJS services that interact with Loom DAppChains

EconomicsEconomics

Tradeable CoinsTradeable Coins
591,901,215 (59% of total) ({tradeable_of_total} of total)

Rich List Addresses holding the largest balances

AddressAddress AmountAmount NameName
0x8f8e8b3c4de76a31971fe6a87297d8f703be8570 208,727,370.319
0xff84ba8e8592eabc25fb99ba8775fa2a0e4c9cec 166,085,448.53
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8 140,000,000
0xf977814e90da44bfa03b6295a0616a897441acec 56,000,000
0x3633626b370ee201056c537a181a459672e047cf 51,100,588.774
0xfbb1b73c4f0bda4f67dca266ce6ef42f520fbb98 35,630,428.341 Bittrex 1
0x0b5b734f911dd7506ab4cd735425b21b574d9fb8 29,479,245.745
0x001866ae5b3de6caa5a51543fd9fb64f524f5478 20,000,000
0xba826fec90cefdf6706858e5fbafcb27a290fbe0 11,948,545.406 Upbit 2
0x5ed05b8c40b86bc9bce3bd76026dfbde7dfd6ab2 11,687,459.445
0x689c56aef474df92d44a1b70850f808488f9769c 11,134,268.862 KuCoin 2
0xd489733fe94e753968710d877007fa629104c9ca 10,496,839
0x5c985e89dde482efe97ea9f1950ad149eb73829b 9,736,308.338 Huobi 5
0xa910f92acdaf488fa6ef02174fb86208ad7722ba 9,265,935.766 Poloniex 4
0xfa4b5be3f2f84f56703c42eb22142744e95a2c58 9,079,689.056 Huobi 11
0x5a8782f24d88fd2a3cf15fc9e1aee91d51b76b1e 8,733,609.898
0xbb14f90632066ab084e9236e45597163d69ee305 6,250,001
0x78a3057bb20cd410fcf01b527eefca0d31f02791 6,250,000
0x7ccd36dcebaab42229d97aba3a3431f39516b41e 5,999,982.4
0x47139cbec96ff8e2d06e0595f966827e400492c3 5,660,615

Exchange Markets

ExchangeExchange MarketMarket PricePrice DiffDiff Volume 24hVolume 24h SpreadSpread Spread $1kSpread $1k
Binance LOOM/BTC $0.0328 -0.18% $345,470 0.36% 1.4%
Upbit LOOM/KRW $0.0325 -1.1% $70,550 2% 3%
Binance LOOM/ETH $0.0328 -0.21% $55,147 0.93% 1.9%
Bittrex LOOM/BTC $0.0331 0.9% $31,283 1.4% 2.1%
Coinbase Pro LOOM/USDC $0.0346 5.4% $26,215 0.8% 16%
Poloniex LOOM/BTC $0.0329 0.18% $10,884 1.8% 2.8%
Binance LOOM/BNB $0.0333 1.5% $4,453.75 2.4% 5.4%
Poloniex LOOM/USDT $0.0306 -6.9% $3,006.05 8.8% 14%
Poloniex LOOM/ETH $0.0331 0.94% $1,337.01 1.2% 25%

Latest Loom NewsLatest Loom News

Loom Network on Twitter

Loom #PlasmaChain hit another daily ATH of 150k transactions on July 27th! That’s 27% of Ethereum’s transactions on the same day ??… https://t.co/btyvA5CBYi

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Loom Network on Twitter

We placed 3rd in July’s top 10 ERC20 dapps by @GitHub activity, as calculated by @santimentfeed (and that’s not counting our private repos ??) Read the highlights of what we’ve done over the past month: https://t.co/QOT64MhBYE

Loom on Twitter ReadRead 

Loom Network on Twitter

?? Check out the latest @what_the_func tutorial. Learn how to integrate your Loom #PlasmaChain dapp with Binance Chain. @binance @Binance_DEX https://t.co/swDdnLeT9K

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Experimental on Twitter

Congratulations to the winners of last weekend's #CryptoWars BIG monthly tournament sponsored by @loomnetwork Winners will be contacted via email and prizes sent shortly afterwards. #blockchain #ethereum #dApps #BlockchainGaming… https://t.co/RdrEhuMqSZ

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Loom Network on Twitter

KuCoin will be enabling soft staking for LOOM on August 4th.…

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Loom Network on Twitter

250 million LOOM tokens staked ?????? Big thanks to all our delegators and validators for helping #PlasmaChain reach this major milestone ??… https://t.co/VfzDWBfjNr

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Bitcoin and Friends on Twitter

B just dropped in to check things out in India. Thanks to @Blockstream for setting up that satellite. #Unstoppable #bitcoin #India #bitcoinandfriends… https://t.co/WyIkRo0Lmd

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Loom Network on Twitter

Developers, want an easy way to interact with Loom Plasmachain? Check out this neat library developed by Loom project https://t.co/1uDyaV6nZA https://t.co/WfEO9B9cQS

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Loom Network on Twitter

12 hours until the Loom-sponsored #CryptoWars tournament with @e11io! Game on! https://t.co/YaP6xixEsj

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Loom Network on Twitter

3/3 ?? https://t.co/vci5pcOjoP ?? https://t.co/nSOykPmcCv ?? https://t.co/GS2n2queHk ?? https://t.co/kdf1bVAb92 ?? https://t.co/VUBkVg0LUc ?? https://t.co/o1QcZ1AMKO ?? https://t.co/OMfNFjPCIf ??? https://t.co/aWsMOoMa4G

Loom on Twitter ReadRead 
This information is provided AS IS and is not adviceThis information is provided AS IS and is not advice. May contain errors or omissions. Please always do your own research before trading.May contain errors or omissions. Please always do your own research before trading.
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