It is one of the very few projects which did not have a whitepaper when it originally started and is already backed up by several projects, one of which being “CryptoZombies”. Thus, it is built on an Ethereum Side chain offering trust and security, along with the computing resources necessary for operating commercial-scale services. The Loom Network technology is based on the Ethereum blockchain but meant for large-scale online games and social DApps, something that the Ethereum network has experienced problems with in the past. As of, Loom Network is ranked 125 th with a combined market cap of $94,034,086 USD and valued at $0.192282 USD. The project is still in its infancy with no large gaming project or development house having yet approached it. The Loom Network team also provides a “coding school” where developers can make their own games based on the famed “smart contract” technology. One such project is the Loom Network.Īmong all the specific use cases that blockchain projects have, Loom Network focuses on providing a next-generation blockchain platform for large-scale online gaming as well as social interaction. However, 2017 saw the emergence of many such projects that aim to address all the issues of the aforementioned three. Even after all the publicity and the hype, the majority investors still do not fully understand the blockchain concept, with their main focus on the top 3 coins, namely Bitcoin, Ethereum, and Ripple. Indeed, the hype for cryptocurrencies is at their peak at the moment, with the overall crypto-market recovering from a drastic slump experienced at the beginning of the year. The cryptocurrency market has been the subject of focus of the investing community worldwide over the past few years.
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