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Loom Network Pledges to Fix Scaling Issues with the Ethereum Scaling Solution



Loom Network

The cryptocurrency market is an amusing financial environment to work in, with coins experiencing massive upsurges in price followed by manic lows without much of a concrete reason. Indeed market volatility is the single most important characteristic of the crypto market and is almost always influenced by investor sentiment. In a market which is dominated by market sentiment, it’s no surprise to find newer coins replacing older coins which seems to disappear altogether. Of course, there are no guarantees that all of the new arrivals will turn out to be successful investment options, but the ones that stand the test of time, emerge as the most profitable options for many investors. This brings us to the Loom Network.

About Loom Network:

Based in Thailand, the Loom Network was formed on October 1, 2017, with an aim to provide users an easy and secure way to deploy, scale and manage their own solidity decentralized Apps. Examples include Heroku for Ethereum.  A relatively new addition to the crypto-space, it has since climbed up to rank 156th according to coinmarketcap with a market cap of $50,946,300 USD

The Company’s Aim:

The Loom Network have stressed on developing a PaaS (Platform-as-a-Service) application for Ethereum based solidity applications for allowing them to run on the main chain as well as on other private/semi-public chains. The need for establishing such a platform comes after the various issues noticed in the Ethereum network, where a lack of proper “layer 2’’ solutions to assist developers. Operations like bootstrapping and abstractions were previously very time-consuming and the need for a faster solution with scalability was felt.

The goals of the LOOM Network Team are clearly defined in brief below:

  • To enable a trusted and secure passage of communication with the off-chain world through “oracles”.
  • To automatically notify users of state changes through SMS or push notifications, which in turn saves on computation fees.
  • To enable decentralized apps by any developer to run faster and with lower costs.
  • To enable free trials in order to attract newer users to the platform.

Loom Network’s Side Chains Explained:

One stand out feature of the whole initiative is the use of side chains inside the platform. They aim to address the different issues experienced while using the original Ethereum Sidechain, including difficulties to optimize for scaling data instead of financial transactions. With Loom Network’s sidechain, only the data that needs to be secured will use the Ethereum Mainnet while the other functions will be run off-chain.

In layman’s terms, the sidechain will operate independently from the Ethereum mainchain, following a different set of rules. This will make them possible to be optimized for high-speed operations while keeping the critical data secure.  Sidechains address the issue of scalability in the most efficient way possible and remain decentralized.

Impact on the Gaming Industry:

The Loom Network team is also working towards supporting developers to run huge games such as “World of Warcraft” directly on the blockchain. Loom network’s own blockchain which is called “DAppChain” running parallel to a smart contract. This will allow a substantially larger number of applications or bigger applications such as games to effectively run on the network without creating any congestion.

Loom Network’s Market Performance:

Since its introduction to the market on March 14th, 2018, the Loom network has experienced a somewhat stable price level as compared to the overall crypto-market which is still recovering from a slump. As always investor sentiment plays a big part in this market, which was behind the coin’s massive price surges and drops.

A perfect example would be Loom Network’s March 22nd twitter announcement concerning the “cryptozombies” hard fork and its addition to the DAppChain. Following the announcement, Loom Network’s price spiked massively on March 23rd, reaching a market cap exceeding $69 Million at its highest point. It reached a market high of $ 0.180356 on March 23rd, a massive jump from the previous day’s high of $ 0.131896 USD. It has since settled at a high of 0.122157 at the time of writing.


Blockchain technology has a bright future especially in future applications across a host of different industries and Loom Network’s recent plans further reiterate this claim. Loom Network’s scalability solution is thus considered by industry experts to be the “next logical step” after both Ethereum’s and bitcoin’s past innovations. The immediate future thus looks indeed bright for Loom Network, which is aiming to become the next Ethereum, in the crypto universe.

We will be updating our subscribers as soon as we know more. For the latest on LOOM, sign up below!

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 sethoscope via Flickr


Investors Beware: Another Large Bitcoin Crash Might Be Coming



Bitcoin crash

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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Top 3 Coins to Buy Before They Go Big




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.


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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Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?



crypto credit cards

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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