Loom is on a rocket: soars over 60 percent in 24 hours

04 May, 2018
by Matthew Kim
News
Loom is on a rocket: soars over 60 percent in 24 hours

After being listed on Binance, the world’s biggest cryptocurrency exchange, Loom Network, a blockchain platform for large-scale online games and social apps, has risen by 61 percent in the last 24 hours and a whopping 600 percent in the last month.

Built on the Ethereum blockchain, Loom strives to become a network that can withstand massive amounts of volume generated by transactions of global-scale decentralized applications. Loom first went live in mid-March with the launch of DelegateCall, and subsequently announced the Alpha release of the Loom SDK, giving select developers access to the Loom Network.

Currently, Loom network supports CryptoZombies and EthFiddle on its network. In the future, Loom plans to release the 0.8 support of solidity to open the network to more users at some point in May, and will open it up to all users in June with the 1.0 public data release. Loom still needs to exponentially improve its scalability if it intends to support multi-million user applications, but the team seems confident, and the investors have enjoyed a big price jump in the recent days.

Read more about: Loom Network (LOOM)

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