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What is Loom Network coin (LOOM) and how does it work?

by Financial Economy

Loom Network (LOOM) is known as an Ethereum-based sidechain platform focused on social media and gaming dApps. The platform is reported to provide seamless integration with Bitcoin, Ethereum, Binance Chain and all major blockchains. Detailed information about what is Loom Network coin (LOOM), how it works, how to buy it, what it does, which stock market it is on, etc. is in the continuation of the content. You can browse here for information about NFT token.

What is Loom Network coin (LOOM) and how does it work?

Loom Network is a blockchain-based platform designed with large-scale social apps and games. The platform was developed with the idea of ​​proving that the applications of blockchain technology are not limited to transactions.

The platform allows developers to run their own large-scale DApps, including social apps and games, in a seamless environment. It does not require any programming language knowledge and applications can even be developed in common languages ​​on the platform.

Loom Network’s core product is a Software Development Kit (SDK) that allows developers to build their own blockchains without the need for any knowledge of blockchain infrastructure. Essentially this is a “build your own blockchain” generator.

The purpose of Loom Network!

The purpose of the platform is to allow app developers to have smart contracts that can access much more computing power when needed, or to maintain the same power at lower costs for tasks such as trials to engage new users or apps that simply don’t need it.

LOOM is an ERC-20 token on the Ethereum network, a staking token used to secure the Basechain network, the currency used by dApp developers to host their dapps on BaseChain. It is a proof-of-stake token used to secure Loom Network’s mainnet called Basechain. LOOM holders can stake their tokens to help secure the Basechain and earn rewards in the process.

How to buy LOOM coin and on which exchange is it available?

Loom coin is listed on many cryptocurrency exchanges and can be purchased from these exchanges. But before trading, it is necessary to make sure that the stock market is “RELIABLE”.

So which exchange is LOOM on? Loom coin is listed on exchanges like Binance, Huobi Global, KuCoin, HitBTC, etc.

Loom Network founders!

The founders of Loom Network are James Martin Duffy, Luke Zhang and Matthew Campbell.

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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