Loom Network (OLD) Loomold Price USD

Loom Network is a platform as a service that is built on Ethereum and lets developers run large-scale decentralised apps. On October 1, 2017, this platform went live.

The goal is to let application developers make smart contracts that can access much more computing power when it's needed or keep the same power at lower costs for tasks like trials for onboarding new users or apps that don't need the full security of blockchain to begin with.

In this system, you can interact with APIs made by third parties that are not on the blockchain. Loom wants to be the best place for smart contract developers to build apps without having to switch to a different programming language.

So, it's easy for them to connect their apps to the outside world.

Plasma is what makes the Loom Network work. Plasma is a scaling solution that speeds up transactions across the network.

Loom Network is a platform as a service that makes it possible for Ethereum Solidity apps to run on side chains.

This means that each application can have its own way to reach a consensus that fits its needs and its model of possible threats. Loom makes it easier and faster to scale decentralised applications on the Ethereum network. It does this by using DPoS sidechains to scale DApps while keeping the security of the Ethereum mainnet.

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