Loom Network
Name
Loom Network
Summary
Loom Network is a platform as a service that is created and developed on the top of Ethereum and allows developers to run large-scale decentralized applications
-It was founded in 2017 by Matthew Campbell, Luke Zhang and others
-The Loom Network runs on Plasma, which is a scaling solution that allows for faster transactions throughout the network.
Rating
Symbol
LOOM
Overview
Loom Network is a platform as a service that enables Ethereum blockchain network applications to be run through various side chains, this favors the applications,
The applications are enabled to have consensus mechanisms specific for their needs and potential threat models. Loom makes scaling decentralized applications quicker and efficient on the Ethereum network as it uses the DPoS sidechains for scalability with DApps through the security of the Ethereum mainnet.
Historical Price Movement (in INR)
Technology
The Loom Network is secured through a zkLoom protocol for efficient blockchains. The Ethereum network is one of the most popular open-source blockchains for smart contracts and it is backed by the second largest cryptocurrency. Through zkLoom blockchain, you no longer have to trust validators, and can rely on security guarantees provided by Ethereum. Through leveraging Ethereum for security, zkLoom blockchains operate in a secure manner with few validators and as such, it is much easier to bootstrap new blockchains and to operate them at a lower cost.
Use of Native tokens in the ecosystem: The LOOM token can be used as a membership token that each member receives in order to get member-only access to all of the apps that run on the Loom Network itself.
This token can be utilized on all of the DAppChains that run on the Loom Network and lets you transfer digital assets and data between Ethereum and Loom DAppChains.
Validators can also stake L OOM on the network to assume and retain their role as a block producer. These validators receive LOOM rewards from a pre-minted pool of tokens for their contributions
Token Allocation
NA
Volume (1st May 2022)
$4,999,781
Total Supply
1.00B LOOM
Circulating supply
1.00B LOOM
Crowd Sales
-
Funding
26/02/2018-Non Equity Assistance -N.A
22/01/2018-Seed Round -$120K
1/01/2018-Seed Round-N.A
Country
USA
Name of Organization
Loom Network Inc
Year Incorporated
2017
Registered Address
427 N Tatnall St # 38768 Wilmington, DE, 19801-2230 United States
Dispute Resolution and Governing Law
USA
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Matthew Campbell | CEO | - | - |
| Luke Zhang | Co-Founder | - | - |
| James Martin Duffy | Co-founder | - | - |
| Andre Popescu | CTO | University POLITEHNICA of BucharestBachelor’s Degree, Computer Science | 23Yrs |
Whitepaper 
