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Loom Network Price
Loom Network price

Loom Network Price(LOOM)

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LOOM
1 LOOM =
USD $0.103466
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Last updated 2024/04/06 01:13 (UTC)
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$ 0.103466
+2.99%
1D
Page last updated: 2024-04-06 13:13 (UTC+0)
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Price of LOOM today

The live price of Loom Network is $ 0.103466 per (LOOM / USD) with a current market cap of $ 126.67M USD. 24-hour trading volume is $ 9.88M USD. LOOM to USD price is updated in real-time. Loom Network is +2.99% in the last 24 hours with a circulating supply of 1.22B.
LOOM Price History USD
Date ComparisonAmount Change% Change
Today$ 0.003+2.99%
30 Days$ -0.004227-3.93%
60 Days$ 0.01925+22.86%
90 Days$ 0.00769+8.03%

LOOM Price Information

24h Low & High
The highest and lowest price paid for this asset in 24 hours.
Low: $ 0.100466
High: $ 0.105203
The highest and lowest price paid for this asset in 24 hours.
All Time High
The highest price paid for this asset since it was launched or listed.
$ 0.774454
The highest price paid for this asset since it was launched or listed.
Price Change (1h)
The percent change in trading volume for this asset compared to 1 hour ago.
-0.26%
The percent change in trading volume for this asset compared to 1 hour ago.
Price Change (24h)
The percent change in trading volume for this asset compared to 24 hours ago.
+2.99%
The percent change in trading volume for this asset compared to 24 hours ago.
Price Change (7d)
The percent change in trading volume for this asset compared to 7 days ago.
-12.38%
The percent change in trading volume for this asset compared to 7 days ago.

LOOM Market Information

The percentage of Binance customers who increased or decreased their net position in BTC over the past 24 hours through trading.
Popularity
Popularity is based on the relative market cap of assets.
#421
Popularity is based on the relative market cap of assets.
Market Cap
Market cap is calculated by multiplying the asset's circulating supply with its current price.
$ 126.67M
Market cap is calculated by multiplying the asset's circulating supply with its current price.
Volume (24hours)
The total dollar value of all transactions for this asset over the past 24 hours.
$ 9.88M
The total dollar value of all transactions for this asset over the past 24 hours.
Circulation Supply
The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.
1.22B
The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.
Total Maximum Supply
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
--
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
Fully Diluted Market Cap
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
$ 134.51M
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.

About Loom Network (LOOM)

Loom Network is an Ethereum-based decentralized platform that enables applications built on the Ethereum Network without developers needing to understand the advanced concepts required to build on Ethereum natively. Loom Network is also designed to enable off-chain applications to integrate easily into the blockchain environment, thereby existing in both spaces and economies. The Bangkok, Thailand-based Loom Network is also positioned as a protocol that is able to assist decentralized applications (dApps) in scaling on the Ethereum platform by implementing three key components of its network infrastructure.

The first, Loom Network’s software development kit (SDK), is purported to enable simpler application development for engineers who desire to build on the platform. Solidity programming language is typically required for a developer to be familiar with to make on the Ethereum native network directly. The SDK provided by the Loom Network implementation removes the need for developers to comprehend or be able to program in Solidity deeply. Applications developed using the Loom Network SDK can be integrated into the Ethereum network as sidechains with their own associated consensus standard, data protocols, and rules, further securing the dApp, which also leverages Ethereum’s native consensus architecture.

The second key component of Loom Network is the consensus mechanism. Loom Network implements a Delegated Proof-of-Stake (DPoS) consensus mechanism, an efficient modification of Proof-of-Stake (PoS), the consensus algorithm at work in the Ethereum Network. DPoS works by individuals staking their native Loom Network tokens to delegate the validator of their choice, essentially voting for candidates to represent a political residential district or territory. DPoS makes processing more efficient because validator nodes are already chosen when transactions are presented to the network.

The third key component at work within Loom Network, which sets the network apart from others, is the dAppchain, purportedly an effective layer-2 Ethereum scaling solution. The sidechain referenced in the description of Loom Network’s SDK refers to the dAppchain. Layer-2 is a protocol that works on top of a layer-1, independent blockchain such as Bitcoin, Ethereum, or BNB. Efficiency, ease of development, and integration are key influences in developing and implementing the Loom Network dAppchain, or layer-2 sidechain. The design enables processing to be done off of the main chain, thereby increasing speed and efficiency in the decentralized application while still being fundamentally powered by the underlying Ethereum mainnet blockchain. As referenced above, dAppchains are distinct in that they can each possess their own independent rules, consensus algorithm, and data protocols.

Loom Network operates on the Ethereum blockchain, and the digital currency associated with Loom Network is deployed as an ERC-20 cryptocurrency token. The native Loom Network digital currency is known by its token ticker $LOOM. The live price of Loom Network is updated and available in real-time on Binance.

People Also Ask: Other Questions About Loom Network

  1. What is LOOM Used For?

    The LOOM digital token is used to pay for transactions and other fees associated with Loom Network activity. Developers who wish to launch decentralized applications through the Loom Network must stake LOOM to do so.

  2. How Does Network Consensus And Validation Work On Loom Network?

    Loom operates on the Ethereum network, which fundamentally works by PoS consensus mechanism, but Loom Network is secured by DPoS consensus. DPoS consensus empowers all network participants with the ability to delegate validators, which then support the model by signing off on transactions presented to the network.

  3. Who is the Founder of the Loom Network?

    Loom Network was founded in 2017 by three co-founders in Bangkok, Thailand. Matthew Campbell, Loom Network principal, is an experienced software engineer, engine mechanic, technical architect, and tech leader. James Martin Duffy is an experienced lead developer, marketer, and tech founder. He occupies the role of Loom Network CMO at the time of writing. Luke Zhang is a former lead developer at BlockMason and possesses extensive experience as a blockchain developer.

  4. What is the Maximum Token Supply of LOOM?

    There is no established maximum supply for the LOOM network cryptocurrency. The circulating supply of LOOM is 1,132,425,698 at the time of writing.

  5. How To Buy Loom Network (LOOM)?

    Loom Network (LOOM) can be purchased directly from Binance using a debit or credit card. Loom Network (LOOM) can also be traded for other cryptocurrencies on Binance. Live Loom Network price is updated in real-time. Additionally, LOOM coin price and purchase information are available for users in our How to Buy Loom Network (LOOM) Guide.

LOOM to Local Currency

FiatPriceOperation
1 LOOM to TRY$ 0.103466
1 LOOM to RUB$ 0.103466
1 LOOM to EUR$ 0.103466
1 LOOM to AED$ 0.103466
1 LOOM to AUD$ 0.103466
1 LOOM to BRL$ 0.103466
1 LOOM to VND$ 0.103466
1 LOOM to IDR$ 0.103466
Last updated 2024/04/06 01:13 (UTC)

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