Loom Network (OLD) Price
LOOMOLD
Convert LOOMOLD to your currency
Last Updated on Nov 18, 2025 03:17 PM
What is Loom Network (OLD)?
About the coin
Loom Network is a next-generation blockchain application platform designed to enhance the scalability of Ethereum. It operates as a Layer 2 scaling solution, utilizing a network of Delegated Proof of Stake (DPoS) sidechains. This setup allows developers to create highly scalable games and user-facing decentralized applications (DApps) while maintaining the security provided by the Ethereum mainnet.
Main features
Loom Network's DPoS sidechains are often referred to as EOS on Ethereum due to their high scalability and throughput capabilities. These sidechains offer the same performance benefits as alternative platforms like EOS, but with the added advantage of being fully compatible with Ethereum. This compatibility ensures that developers can leverage the robust security features of Ethereum while enjoying enhanced scalability.
How it works
The Loom Network has been operational since March 2018, providing a live production environment for developers to build on. One of its key innovations is the implementation of Plasma Cash, which allows Ethereum-based tokens to be utilized on Loom sidechains. This integration ensures that tokens retain the full security guarantees of Ethereum, making Loom Network a secure and scalable solution for blockchain applications.
Wallet for Loom Network (OLD)
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Tangem supports networks for Loom Network (OLD)
- Ethereum
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Loom Network (OLD) FAQ
- Owning cryptocurrency can be important for several reasons: it provides a decentralized way to store and transfer value, offers potential for investment growth, enables participation in emerging financial technologies, and can be used for secure and private transactions.
- A cryptocurrency wallet is a tool or device that allows you to store, manage, and use your cryptocurrency. It keeps your private keys secure and enables you to interact with various blockchain networks, including Bitcoin and Ethereum.
- When choosing a cryptocurrency wallet, consider factors such as security, ease of use, and cryptocurrencies supported. Also determine whether you prefer a hardware or software wallets. Research reviews and compare features to find the best option for your needs.
- LOOM is thedigital token used to pay for services on the Loom Network. It is built on Ethereum in accordance with the ERC20 standard for tokens. In order to run a decentralized app (dApp) on the Loom Network, a developer must stake LOOM. The Loom token is not mined.
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