March 21, 2019

What is Loom Network Really?

What is Loom Network Really?

You probably don't get Loom.

A lot of words about Loom floating around simply confuse people.  Sidechain and layer 2 being the most popular and deceiving.   I'm not saying those words improperly describe some of the capabilities of Loom.  Rather they put Loom in this other, lesser category, when in reality Loom is possibly the blockchain project with the most potential in the space at the moment.

After reading the below and fully understanding what Loom is and what it's capable of you'll understand why its current $50m market cap could easily transform into a $2B market cap overnight.  That's saying nothing about its long term potential for the future.  

So what actually is Loom then?

Loom will be the central hub for ALL blockchains.

Loom is working on interoperability between all chains. So far there is support for Ethereum, EOS, Tron and Cosmos. They will add more.

Loom will be the backend to the entire blockchain space.

Like Google, Amazon and Microsoft that host a huge portion of the entire Internet, Loom is striving for that position. This market is currently worth $180 Billion and is expected to more than double in a couple years to $440 Billion in 2020.

Loom is THE game chain.

While not only usable for games. Loom has specifically been designing tools and chain features to make it super easy for game developers to build on their chain. Did I mention they have their own game running on it now? Zombie Battlegrounds

Loom is a payment network.

Essentially has all the features of the Lightening Network or Raiden, now. Working. For the top 100 ERC-20 tokens. Loom recently added the ability to use the top 100 ERC-20 tokens on it's chain. This includes a number of stablecoins. This means that merchants can use a super fast, highly secure network for payments. Mind you Loom pretty much beat the Lightening Network and Raiden to the punch here.

Loom is Ethereum.

Currently assets on Loom are backed by the security of Ethereum and Plasma Cash. This means that while Loom runs everything lightening fast and super cheap, security is not compromised. Your assets are as good as if they were on Ethereum.

Loom is an interest bearing savings account.

If you help stake Loom to secure the network you can earn up to 20% per year, how's that?

Loom is a social chain.

Ever hear of Facebook? Twitter? Reddit? All these social networks can be built on Loom. Loom is even running their own social Q&A site currently as a demo of it's capabilities. Delegate Call