Review on Loom Network by Özgün A
It has become a useful project for developers
Loom Network is a multipurpose crypto money project created with blockchain technology. It runs on the Ethereum network. Its native token is compatible with erc-20.
The broad purpose of Loom Network is to regulate and correct network traffic on the Ethereum network. Applications running on the Ethereum network are slow due to density. Loom Network is using sidechain technology to reduce the density of chains that are swelling due to the number of transactions on the Ethereum network. The processes accumulated on the main chain cause the processes to slow down after a while, this is called the scalability problem. Each newly added new process is transferred to a new side chain and the density on the main chain is reduced. Thus, transactions are performed faster and more efficiently.
Loom Network allows decentralized small-scale applications to perform many operations such as sharing, fulfilling, and creating content.
In short, side chains connected to the main network are formed. In this way, large gaps are created on the main chain, allowing applications, contents and efficient operations to be carried out.
Pros
- It has become a solution for the ETH network
- Listed on some major exchanges
- Allows content creation on the network
Cons
- Usually for developers
- Still not popular
