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Loom Network Climbs on Its SDK Public Beta Release

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Loom Network
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After going through a rough weekend and an even bloody Monday, crypto markets all over the world are now attempting for a recovery. Some altcoins have also contributed to the pace of recovery. Such a promising altcoin is loom network which has released its software development kit public beta version which gave its markets a bullish trend that continues even now. This public release will allow developers to try out loom network and build customized DAppChain games. After all decentralized apps have spiked many developer’s interests towards crypto. Loom Network does not have a whitepaper because according to them a whitepaper is all talk and unfulfilling promises. Such a daring project releasing their public beta at this point could only mean increased user base and bullish sentiments. In this article, we shall find out more about loom network’s potential and its recent achievements that contributed to its current performance.

An Overview of Loom Network:

For those who have not heard of Loom Network before, it’s a blockchain based ecosystem for games and even social apps. Loom Network is a platform as a service which was created on Ethereum blockchain. It allows developers to create and execute large-scale DApps. Loom Network applies the concept of a system of sidechains through which helps each decentralised application to run on its own sidechain avoiding congestion and network load and promote speed as well as scalability. The best part of using Loom Network SDK is that devs can code their own DApps in general programming languages. Loom Network aims to build a platform responsible for the creation of various blockchain-powered games and Apps through a scalable infrastructure.

Notable Features of Loom Network:

Loom Network was created back in September 2017 as fundamental infrastructure platform which would help Ethereum scale, it is also the first scaling solution for Ethereum to be live in production. The team of loom network also calls it EOS on top of Ethereum for better comprehension. The core product of loom network is their SDK which works as a B.Y.O.B (build your own blockchain). It also generates what is being called as ‘DAppChain’ which is a 2-layered blockchain having Ethereum as its base layer. DApps built using loom network would run on separate DAppChains because there are two effective advantages of it.

  1. DAppChains use alternative consensus rulesets which optimises DApps to gain higher scalability.
  2. As told earlier, the base layer of Ethereum guarantees security for DAppChain based assets.

Securing Listing on South Korean Crypto Exchange, Upbit:

Earlier on Tuesday, the announcement of listing Loom Network came from Upbit, a well-known cryptocurrency exchange based in South Korea. It is one of the largest crypto exchanges of South Korea based on 24hr volume statistics. Around $334 million worth of crypto were processed by Upbit within the past 24 hours. The same day loom network became available for trading which means the exchange process has already started. According to CoinMarketCap an approximate of $50 million (excluding trading fee) worth of $LOOM has exchanged hands through Upbit within past 24 hours. Loom network has also been listed on BartexDEX and Binance last month so it’s clear to see that the team behind loom network is getting ahead with listings on influential exchanges.

Loom Network SDK Beta Goes Live:

The announcement of loom network’s public beta release was well-received by crypto enthusiasts as well as blockchain developers. They also revealed information regarding the tools available for developers for building on their network with some additional examples of DApps. The Loom network SDK along with its tools are supposed to promote largescale adoption from differently skilled developers interested in DAppChain. The number of users on Loom Network has been increasing for the past few months. Their educational course CryptoZombies which helps new devs to learn how to create Ethereum DApps has gained 207,000 people up until now and its expected that all of them will now eye the newly released SDK. A couple of upcoming announcements and hints were also released with SDK public beta. The SDK roadmap and details on the Token Utility Updates are arriving next for the community according to the official tweet by loom network.

Current Market Position:

According to the data on CoinMarketCap, Loom Network is placed at the 73rd largest cryptocurrency having a total market capitalization of $154.6 million. Its individual price at the time of writing is close to $0.255 with an increased rate of 2.04%. LOOM tokens serve a very different purpose, for purchasing a license for developers to build games. The total circulating supply of Loom Network remains 606.4 million $LOOM. The booming performance by loom network is being tied to the Upbit listing because, in the past, crypto enthusiasts and investors have observed many altcoins rise after official listing on a South Korean exchange.

Final thoughts:

These past hours might’ve been bullish for loom network but people who have been following its trends since way back must know that it was nowhere close to its once all-time-high mark of $0.67. There’s no denying that this project has enormous potential but it needs more activity towards reaching their milestones to secure significant investment.

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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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