Buy Loom Network (LOOM)
What is Loom Network (NEW)?
Loom Network is a multichain platform designed to support high-performance decentralised applications (dApps) with seamless user experiences. It facilitates developers in integrating assets from major blockchains such as Bitcoin, Ethereum, Binance Chain, and Tron, enabling dApps to be deployed across various platforms simultaneously.
How does Loom Network (NEW) work?
Loom Network operates as a Platform-as-a-Service (PaaS) providing a Layer-2 scaling solution for Ethereum-based applications. It employs sidechains to alleviate congestion on the Ethereum mainnet, thereby enhancing performance and scalability of dApps. The consensus mechanism used is Delegated Proof of Stake (DPoS), which allows for faster transaction confirmations and increased network throughput.
What are the potential use cases for Loom Network (NEW)?
Loom Network is versatile, supporting a wide range of use cases such as:
- Gaming and NFTs: Facilitating scalable and secure gaming applications with features like tradable tokens.
- DeFi Applications: Enabling high-efficiency financial applications.
- Social Media: Supporting social apps with unique features and monetisation models not reliant on advertising.
- Enterprise Solutions: Providing scalable applications for government and healthcare sectors.
What is the history of Loom Network (NEW)?
Loom Network was founded in 2017 by Matthew Campbell, James Martin Duffy, and Luke Zhang, with its headquarters in Bangkok, Thailand. Initially, the focus was on blockchain-based social media and gaming applications. Over time, the network pivoted towards enterprise solutions, targeting government and healthcare. Significant milestones include the launch of the Basechain Mainnet in 2018 and the introduction of the PlasmaChain Project in 2019, which expanded interoperability across multiple blockchains.
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Frequently Asked Questions (FAQs)
What is the current price of Loom Network (LOOM)?
The Loom Network price is $0.10795194 AUD, representing a -1.84% from the day prior.
Where is the best place to buy Loom Network (LOOM) in Australia?
The best place to buy Loom Network (LOOM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Loom Network (LOOM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Loom Network (LOOM)?
The trading volume of Loom Network (LOOM) is $1.6M AUD in the last 24hrs, representing a -1.84% from the day prior.
How can I buy Loom Network (LOOM)?
Loom Network (LOOM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Loom Network (LOOM)?
The current market cap of Loom Network (LOOM) is $136.0M AUD.
Can I convert Loom Network (LOOM) to cash?
Yes - With Coinstash you can convert your Loom Network (LOOM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Loom Network (LOOM) are there?
The current circulating supply of Loom Network (LOOM) is 1.2B.
Is Coinstash a safe place to buy Loom Network (LOOM) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Loom Network (LOOM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.