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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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