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How ZombieChain Launch Will Impact the Future of LOOM Network Holders

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LOOM Network
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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.

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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.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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