In the blockchain industry, LOOM token has attracted widespread attention with its unique background and technical advantages. LOOM, known as the "zombie coin", originated from the popular code school product-CryptoZombies developed by Loom Network. Since its release in March 2018, the circulation of LOOM has reached 1 billion, and the crowdfunding price ranges from 0.5 to 0.7 yuan. However, a week after listing on the Binance exchange, the price of LOOM quickly soared to 3.7 yuan, an increase of nearly 7 times. This performance attracted the attention of many investors. Although the currency price has fallen back to 0.09 yuan, trading is still active.
LOOM team and technical strength
LOOM's success is inseparable from its strong team. The team is composed of a number of technical experts and enjoys a certain reputation in the blockchain industry. The project team focuses on technology development and is committed to continuous innovation. The LOOM team has successfully implemented the Loom SDK, allowing developers to freely choose the consensus mechanism, create their own rule sets, and release turnkey node software that can run on any cloud platform. This technical advantage makes LOOM stand out among many blockchain projects.
The concept of side chain development: LOOM is a side chain development project based on the Ethereum network. The team believes that even if the public chain can achieve millions of transactions per second (TPS), when the number of users surges, network resources will still be exhausted, leading to lags. Therefore, LOOM chose to solve the problems of blockchain performance and scalability through side chain networks. This strategy not only reflects the forward thinking of the LOOM team, but also lays the foundation for the long-term development of the project.
Practical applications and landing products
Unlike many white papers where projects only remain in the theoretical stage, LOOM has successfully launched a number of practical applications. Among them, the success of CryptoZombies is a good example, and its operating experience and user reviews are quite good. In addition, the LOOM team has also developed a number of practical websites, including ethfiddle.com, ethdeploy.com, cryptozombies.io, solidityx.org, delegatecall, etc. The launch of these products shows the potential of LOOM in practical applications.
Developer-friendly environment: LOOM's development environment is extremely friendly. Developers only need to use the LOOM SDK tools, even if they are not familiar with the underlying architecture of the blockchain, they can quickly develop various applications and easily deploy them on the network. This simplified development process greatly improves the operational efficiency of the project and enables more developers to participate in the LOOM ecosystem.
Team and community building
The LOOM team currently has 51 members, most of whom are highly qualified developers with high code quality and active maintenance. The team has launched 5 high-quality implementation projects. In the long term, LOOM still has broad development space. However, LOOM still needs to be strengthened in terms of community building. At present, the social media followers in its Telegram group are few and inactive, and the publicity of the plan is relatively insufficient. Therefore, LOOM needs to make further efforts in community operations and marketing in the future.
Future Outlook: Although the price of LOOM has experienced large fluctuations, its technical advantages and team strength make the project still worthy of attention. With the continuous development of blockchain technology, LOOM's exploration in the field of side chain development will bring new opportunities to it. In the future, LOOM is expected to occupy a place in the blockchain industry and become the choice of more developers and investors.
Conclusion
To sum up, LOOM token, as a side chain development project based on Ethereum, has shown good development potential with its strong technical background and team strength. Although it currently faces some challenges, its advantages in practical applications and development environments make LOOM worthy of attention. For investors looking for investment opportunities in the blockchain field, LOOM is undoubtedly a project worth studying.