![]() There was no ICO as the project was funded by Techstars NYC. Loom token was launched in March 2018 with the Loom Network. The tokens earned by posting and answering questions on DelegateCall can be redeemed for a tradable ERC-20 “DelegateCall token” on Ethereum mainnet, allowing users to earn rewards proportional to their contributions to the site. You can also watch these transactions happening in real-time at, a block explorer built for the DelegateCall DAppChain. For instance, DelegateCall’s DAppChain has native transaction types for creating accounts, creating/ updating posts, accepting answers, and upvoting/ downvoting. SDK as a Loom’s core product, allows developers to build their own blockchains without having to understand blockchain infrastructure.īy creating DAppChains it is possible to define a number of complex transaction types natively. The Loom Network enables its users to use Loom’s Software Development Kit (SDK) to create the basics for a DAppChain. For instance, for games it would be optimal to use Delegated Proof of Stake (which the Loom Network supports out of the box) because it has a very high speed and extremely low fees. Its rule set is customized based on the use-case, and its security is maintained by the mainchain’s consensus algorithm.ĭue to the fact that all transactions on a DAppChain are connected to its DApp, it is possible to run a consensus algorithm that is optimal for these transactions. Basically, a DAppChain is an Application Specific Sidechain, which runs parallel to a mainchain, Ethereum in this case. The Loom Network is addressing the scalability issue of the Ethereum blockchain by using DAppChains – DApps running as their own sidechains. Currently, the team is in the process of forking CryptoZombies to run as the second DAppChain on the Loom Network. In the process, CryptoZombies rose in popularity and became the world’s number one resource for learning Ethereum development. First to teach them how to write their first smart contracts on Ethereum, and later to teach them how to build their first Loom Network DAppChain. The team created CryptoZombies to train the next generation of Blockchain developers. It is a free code school with more than 175 thousands students, where developers can learn how to build games (and other DApps) on Ethereum. The company already had successful projects and the most notable was CryptoZombies. The Loom network was founded in 2017 and officially launched in March 2018 by James Duffy, Luke Zhang and Matthew Campbell. Like how Filecoin tokenized disk space, Loom aims to be the tokenized application protocol of the new decentralized web. This lets developers build DApps with the trust and security of the world’s most secure public blockchain, along with the computing resources necessary to run commercial-scale services. Loom Network was created as Platform as a Service built on top of Ethereum that allows developers to run large-scale decentralized applications. This is the first use-case of the LOOM token, but it will also be usable for the many DApps that will be released on Loom Network in the future.The aim of the Loom Network is to build a fundamental infrastructure platform that will help solve Ethereum scaling issue, and is the first Ethereum scaling solution to be live in production. You can use your LOOM token to transfer your DelegateCall karma points to Ethereum and sell them for ETH, thus earning money when other users upvote your answers. (“DelegateCall tokens”, which have no relation to the LOOM token). The first DApp released on Loom Network is - a blockchain-based Q&A site where your karma points are exchangeable for a re-sellable ERC20 token. Our projects are well known in the community and we are constantly working on enriching the greater blockchain development community. “We’re laser-focused on developer experience. It allows you to transfer your data and digital assets between Loom DAppChains and the Ethereum mainnet. The LOOM token acts as a lifetime membership card to all DApps running on Loom Network. Loom Network is a Platform as a Service built on top of Ethereum that allows developers to run large-scale decentralized applications.
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