What is Loom Network?
Loom Network is a coin of the project to rise above Ethereum-related issues. Most of the currently developed Ethereum-driven DApps show a decline in efficiency with the rise of users. This issue is a fatal defect of Ethereum-centered DApps. What’s more, ‘the Cryptokitties Crisis’ proved Ethereum still faced its limits to supporting service on a massive scale.
Loom Network, however, establishes side chains per DApp to stave off the overload of Ethereum, [which is] the main chain. Simply put, this means the demerits that Ethereum-centered DApp will surmount. Consequently, online games and social network services that tackle tons of traffic through DApp are developing in a less strict environment.
The Loom Network project neither went public with its white book nor conducted ICO(Initial Coin Offering). Loom Network is devoid of the white book because it was open to the public separately on the blog.
Instead of spending time compiling the white book, we provide programs.
Loom Network
They intend to publicize their activities by constant program updating rather than performing ostensible marketing. Loom Network’s token is a membership token required to access all apps executed in the system. Loom Network is employed in all DApps executed in its network and may transmit cryptocurrencies and data between Ethereum and [other] DApp chains.
Who founded Loom Network
James Martin Duffy developed the Loom Network with three other engineers and a co-founder. The Loom Network developer promptly devised the system and launched its service. Rather than having consumers get mixed up on the white book, they think it is far better to make improvements through firsthand use of the actual product or system, quick delivery, and feedback.
Vitalik Buterin, the Ethereum developer, stated on his blog, “It seems a system like Loom Network would be appropriate to organize the DApp that demands fast transaction through Ethereum.”
The developers launched three significant products shortly in six months after the foundation of the company to live up to their allegations The services are dubbed CryptoZombies, DelegateCall, and EthFiddle. The developers argue that this prototype-level service enhances the grades and quality by flooding in a plethora of feedback.
We Coin-Labs.com provides only objective information about Loom Network.
Therefore, we are not responsible for the investment decision in Loom Network and the resulting loss.
Loom Network Basics
Here are some factors that investors should consider before investing in Loom Network.
| Cryptocurrency Features | Loom Network (LOOM) |
|---|---|
| Publisher or Developers | James Martin Duffy |
| Headquarters (Registration Number) | Thailand |
| Symbol | LOOM |
| Platform | ETH |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of Loom Network in 2024
These are indexes mesuring the investment reliability of Loom Network conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | 4.2 / 10.0 CAR |
| Communication Rate | 6.5 / 10.0 CR |
| Technology Transparency Rate | 7.8 / 10.0 TTR |
| Development Participation Rate | 7.2 / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 5 Exchanges |
| Number of Available Pairs Worldwide | 162 Pairs |
| Market Cap of the Cryptocurrency | 105,572,114 USD (Rank #332) |
The table above shows the result of investment suitability evaluation for Loom Network.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Loom Network Price
Here are the price and recent trading volume of Loom Network. (Data of 2024-11-02 00:37:00)
| Price Items | Price and Trading Volume of Loom Network |
|---|---|
| Loom Network Price | 0.052 USD |
| Price Change 24h | -0.90% |
| Price Change 7d | -6.94% |
| Trading Volume 24h | 5,040,204 USD |
| Trading Volume Change 24h | -36.00% |
Cryptocurrency Metadata
You can check the development status and social media information of Loom Network through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy Loom Network
Here are the top ten world crypto exchanges where traders can buy Loom Network in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/LOOM_BTC |
| Coinbase | Listed | https://pro.coinbase.com/trade/LOOM-USD |
| Kraken | Not listed | |
| KuCoin | Listed | https://www.kucoin.com/trade/LOOM-ETH |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Listed | https://www.huobi.com/en-us/exchange/loom_usdt |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of Loom Network?
Loom Network price today is 0.052 USD. Furthermore, the price of Loom Network has fluctuated by -0.90% from 24 hours ago, and by -6.94% from a week ago.
Where is Loom Network listed?
Currently, it is listed on a total of 5 among the world top 10 exchanges.
What is the market cap of Loom Network now?
Currently, Loom Network has a market cap of 105,572,114 USD, which is ranking 332 among cryptocurrencies worldwide.
How much is the trade volume of Loom Network?
Currently, 1,239,270,898 LOOM coins are circulating through 162 market pairs. As a result, in the last 24 hours, 5,040,204 USD of LOOM coins were traded in the market.
