loom network
Loom Network
LOOM
$0.11

Sector

Interoperability

Exchange Debut

2018-03-15

Market Cap

131,080,214

Maxim Supply

Circulating Supply

1,219,425,698

Circ. Supply(%)

loom network

Loom Network

LOOM

Price

$0.11

Market Cap

Sector

Exchange Debut

131,080,214
2018-03-15

Volume 24h

High 24h

Low 24h

8536282
0.109161070305
0.099931169523

Change 24h

Change 7d

Change 30d

2.8268
3.9316
28.3324

Maxim supply

Circulating supply

Circulating supply(%)

1,219,425,698

The opinion of artificial intelligence (AI), based on the fundamental analysis of the Loom Network cryptocurrency:

 

Loom Network, launched on October 1st, 2017, presents itself as a revolutionary platform atop Ethereum, aimed at enabling developers to run expansive decentralized applications. Powered by Plasma for enhanced transaction speed, it promises smart contract developers a seamless transition without the need to learn a new programming language, offering an interface with third-party APIs off-chain. This versatility should, theoretically, appeal to a wide array of application creators. However, a comprehensive fundamental analysis of the Loom Network cryptocurrency reveals a score of 5.56 out of 10, prompting us to delve deeper into its strengths and challenges.

SOCIAL & MASS MEDIA

Score 3.1 out of 10 The Loom Network’s presence on social media appears lackluster. With a mere score of 1 out of 10 for its capacity to attract followers and relatively low community activity, it’s evident that its brand engagement needs significant boosting. Though the community size on chat groups and the activities of social media administrators have fared slightly better, a stronger media strategy might be essential for future growth.

AUDIT & SECURITY

Score 5.85 out of 10 From a security perspective, Loom seems to maintain a moderate stance. Its audit results and liquidity on exchanges garner satisfactory scores. However, to inspire more confidence among potential investors, enhancing transparency of publicly available information might be a viable path.

TOKENOMICS

Score 7.4 out of 10 The token economy of the Loom Network is one of its stronger facets. The low inflation rate is commendable, yet concerns arise regarding the centralization of its monetary mass. A more decentralized approach might benefit its broader acceptance.

ECOSYSTEM DEVELOPMENT

Score 4.4 out of 10 For a platform that promises so much, its ecosystem development score indicates there’s much work to be done. Although there’s evidence of achieving objectives and plans for future developments, a fundamental analysis of the Loom Network cryptocurrency suggests that more consistent progress is required.

TEAM & DEVELOPERS

Score 7.24 out of 10 The Loom Network’s team brings to the table a reasonable amount of experience, yet the number of software developers is slightly underwhelming. For a platform of its promise, expanding the development team might be beneficial.

PRODUCT & UTILITY

Score 7.48 out of 10 On a positive note, the utility of the Loom Network’s product and tokens in its ecosystem holds promise. The scores here indicate that, when utilized, the product can meet users’ expectations.

PARTNERS & INVESTORS

Score 3 out of 10 In the domain of partnerships and investments, Loom faces challenges. With low scores in both investor capacity and partnership quality, it might be pivotal for Loom to seek stronger collaborations and influential backers.

Fundamental analysis of the Loom Network cryptocurrency – The final conclusion

Diving deep into the fundamental analysis of the Vulcan Forget cryptocurrency, it’s evident that while Vulcan Forged has its merits, there are clear areas that need attention. The team and partnership dimensions, in particular, require reinforcement. From an investment perspective, it offers a moderate opportunity but is not devoid of risks. Potential investors should exercise caution, stay updated with the project’s progress, and make informed decisions. With certain improvements, Vulcan Forged can truly forge its mark in the crypto realm.

What is Loom Network?

Loom Network, launched on October 1st, 2017, represents a PaaS (platform as a service) built atop Ethereum, offering developers an avenue to operate extensive decentralized apps (DApps). Its primary advantage is allowing smart contracts to harness greater computational strength when needed or save costs without compromising security. Moreover, it grants integration with third-party APIs off-chain, ensuring a seamless experience for smart contract developers.

Unique Attributes of Loom Network

What sets Loom apart is its ability to run Ethereum Solidity apps via sidechains, enabling DApps to employ distinct consensus models tailored to their requirements. Loom promotes enhanced scalability of DApps on Ethereum, capitalizing on DPoS sidechains to bridge the security of the Ethereum mainnet. The intrinsic LOOM token offers membership perks, granting access to all apps within Loom’s ecosystem. Furthermore, it facilitates the transfer of assets and information between Ethereum and Loom DAppChains.

Security Measures of Loom Network

Ensuring robust security, Loom employs the zkLoom protocol, a highly efficient blockchain mechanism. With Ethereum’s reputation as a leading open-source blockchain for smart contracts, the zkLoom blockchain eliminates the need for trust in validators. Instead, it capitalizes on Ethereum’s security framework, permitting blockchains to operate securely with minimal validators, thus streamlining the creation and cost-effective operation of new blockchains.

Founders Behind Loom Network

The brainchild of Matthew Campbell, James Martin Duffy, and Luke Zhang, Loom has an illustrious founding team. Campbell boasts a diverse tech portfolio, from spearheading software projects at renowned firms to revamping major brand websites. Duffy, apart from his role at Loom, leads Epictetus Ventures and has an impressive developer background. Zhang’s expertise includes roles at BlockMason and Elemica, emphasizing his proficiency in the blockchain domain.

Fundamental analysis of the Loom Network cryptocurrency

Loom Network - LOOM performance

GENERAL CRITERIA:

Score

SOCIAL & MASS MEDIA
0
AUDIT & SECURITY
0
TOKENOMICS
0
ECOSYSTEM DEVELOPMENT
0
TEAM & DEVELOPERS
0
PRODUCT & UTILITY
0
PARTNERS & INVESTORS
0
Content description – Go to Metholodogy

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

Go to Methodology

Content description

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

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