Review on Loom Network by David Olayide
Loom Network For Scalable Dapps.
Loom Network is an Ethereum sidechain that is built on the Ethereum Blockchain to allow users and developers to run their decentralized applications on the platform. It has been described as the next generation blockchain application platform for Ethereum. Loom Network’s DPoS sidechains allow for truly scalable blockchain games and DApps with the security of Ethereum mainnet.
Highly scalable games and dapps can function quite efficiently and also be very secure on the Ethereum network. As much as you might want to say that Loom Network is not popular or well engaged, the truth is that the statistics are impressive. There is a circulating supply of about 830 million LOOM coins in the global market, and a maximum supply limit of 1 billion coins in total.
The LOOM token is a membership token that you get as a member. With this it is easy to access the apps that run on the Loom Network. Platforms like Loom essentially make it easier for developers of dapps to do their work with less stress. The token is not so profitable yet if you ask me. But you can find the tokens on Coinbase Pro, Huobi, Upbit, and Bittrex, among many other exchanges as well.
Hopefully the cryptocurrency community at large will take real notice of the project and engage in what it has to offer. Otherwise, developers of dapps are the ones who will enjoy the platform the most.
Pros
- Loom Network facilitates the development of highly scalable games and decentralized applications
- Developers have the tools they need to make their dapps on the Loom platform
- Loom coins are ERC20 compliant
- Loom token can be traded on multiple popular exchanges
Cons
- The price of the Loom token is still very low in comparison to other tokens
