Loom Network LOOM

$0.1255
Market Cap $ 75.443 MM (#82)
24h Volume $ 6.341 MM
Chg. 24h: 3.99%
Algo. score 3.5/5  (#179)
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Loom Network project purpose and description

Loom Network clarity of purpose

Loom Network purpose and aspects

Loom Network is a platform as a service built on top of Ethereum that allows developers to run large-scale decentralized applications. This lets developers build DApps with the trust and security of the world’s most secure public blockchain, along with the computing resources necessary to run commercial-scale services. Like how Filecoin tokenized disk space, Loom aims to be the tokenized application protocol of the new decentralized web.

Loom Network categories

Build dappsGamingSocial network

Short description

The next-generation blockchain platform for large-scale online games and social apps.

Abstract

Loom Network is a PaaS (Platform as a Service) that allows Ethereum based Solidity applications to be run on main chain and on private, and semi public chains. The goal is to allow app developers to have smart contracts that can access more computing power when necessary, or the same computing at lower costs for tasks like free trials for onboarding new users or applications that doesn't need the full security of the blockchain. Included with this system we have the ability to interact with APIs from third parties that are not on chain such as connecting with Twillio to do 2factor authentication for smart contracts. Loom tries to be the one-stop full-service platform that allow smart contract developers and traditional developers alike to create their applications without switching programming languages or manually managing servers, and all with the added advantage of easily integrating their apps with outside world. Like a Blockchain-aware and Blockchain-ready AWS.

Link to Roadmap: n/a
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