Loom Network (LOOM) is a Platform as a Service intended to allow Ethereum-based Solidity applications to be run on side chains. With the belief that applications should be allowed to have more relaxed consensus mechanisms depending on their needs and potential threat model, Loom aims to make scaling decentralized applications faster and easier while remaining on the Ethereum network. Loom Network’s DPoS sidechains allow for truly scalable blockchain games and DApps with the security of Ethereum mainnet.
Loom Network is represented on our ticker as LOO
As of November 21, 2020, LOO has been delisted from Bitfinex. While withdrawals remain open until December 04, 2020, at 12:00 AM UTC, trading and deposits will cease by November 23, 2020, at 12:00 PM UTC.