Gamble as you want,

your wife will never find out!

First p2p bitcoin betting platform!

Guess Bitcoin’s trend and win!

Clever enough to guess

Bitcoin price?

How ZombieChain Launch Will Impact the Future of LOOM Network Holders - Global Coin Report
Connect with us


How ZombieChain Launch Will Impact the Future of LOOM Network Holders



LOOM Network

For the past few months, precisely after the shattering event of Bitcoin’s massive downfall, a significant number of slightly unfamiliar and unpopular coins have been making inroads in the cryptocurrency market. This new trend is still strongly existent as the struggle for Bitcoin and various other ostensible big guns continue. Since the beginning of this year, relatively newer coins that were tokenized just a few months ago have been doing considerably well in earning their traders’ trust than the others. Loom Network certainly belongs to this category of cryptocurrencies as it began its journey as a legitimate digital token on 14th March 2018.

The sole purpose of introducing this coin to the investors across the globe was to prove that ameliorating the transaction system is not the only objective of blockchain technology. On the contrary, it can be implemented in various industries and help them prosper. To the constantly growing online gaming industry, Loom Network (LOOM) offers the unique Decentralised Application or DApp which is likely to revolutionize the methods of game development. It also offers a platform where the Ethereum based apps can run without any interruption.

Here, a few aspects of Loom Network’s technology.

The Technology behind Loom Network:

As far as the technology of this currency is concerned, it is absolutely unique from all other cryptocurrencies that are currently traded across the globe. Like most other coins, LOOM does not have a whitepaper or even an ICO. Interested traders can simply go through its website to gather necessary information about the coin.

The technology of LOOM is mainly based on the Loom Network DAppChains that allows the development of various games and social apps in a completely hassle-free environment. The technology comes with a couple of very useful features such as:

  • Convenient Platform: Loom Network offers a full-service platform that allows the developers to develop various apps and online games according to their choice without changing the programming language.
  • Smart Contracts: The smart contracts offered by this cryptocurrency allow the developers various advantages including a massive computing power for activities like free trials and development of decentralized applications. The platform allows them to use the benefits of Ethereum blockchain while interacting with APIs from the third parties. Various developers have managed to make the most of this feature by implementing a 2-factor authentication for smart contracts.

The Launch of ZombieChain:

The idea of ZombieChain originated from the need of mitigating the load on Ethereum’s blockchain that the LOOM holders currently use for developing applications. Tersely speaking, ZombieChain is a sidechain tailor-made for social networks and decentralized games. With the help of this sidechain, DApp developers around the world would be able to use the blockchain platform of Loom Network in exchange for a monthly payment to the company. It would allow the developers to afford a much more convenient and efficient paradigm.

According to James Buffy, the CEO of Loom Network, this new implementation would help developers to reach new heights in exchange for a rather small and affordable price. He also said, “Rather than having users pay gas per-transaction, developers will be able to run their DApps on ZombieChain for a fixed monthly fee. We think this is an important quality of a blockchain that plans to host DApps which require a seamless user experience.” ZombiChain would use the Delegated Proof of Stake (DPoS) consensus mechanism allowing the developers to maintain a considerably higher throughput.

The announcement of this launch was made on 23rd of May, 2018 and the implementation is likely to be completed within the next two months.

Advantages of ZombieChain:

Once ZombieChain is implemented, it would not only offer a better environment for developing DApps but would make the transaction procedure much better as well. The DPoS consensus management of ZombieChain would increase the scalability of Loom Network to a significant extent leading to a more efficient blockchain ecosystem. The DPoS would also mitigate the cost of transaction for the developers.

Current Scenario of Loom Network:

Despite being introduced to the crypto-traders just a couple of months ago, Loom Network has managed to topple a significant number of currencies in terms of market capitalization. As of June 4th, 2018, Loom Network holds the 70th position on Coinmarketcap (among nearly 1600 coins) with a market cap of circa 211 million USD and a price of nearly $0.35. After the announcement of ZombieChain, the popularity of this coin is increasing rapidly leading to a possible upsurge in price.

Final Thoughts:

As online games and applications are the future of this society, a cryptocurrency that offers developers to develop such applications in a hassle-free environment is likely to succeed. According to this notion, it can be certainly inferred that if the development team of Loom Network continues to implement such new and innovative features to its blockchain, LOOM holders can expect a lucrative 2018.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels


The Crypto Space Once Again Divided Over Bitcoin SV



Bitcoin SV

The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

Continue Reading


Are XRP and Ripple Going to Be Worth Anything by the End of 2019?




One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

Continue Reading


Bitcoin, Litecoin, Ethereum, and Ripple On the Rise




The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

Continue Reading