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Loom Coin Fundamentals

Loom Network is a decentralized scaling solution for Ethereum that enables developers to build scalable dApps without sacrificing security. Loom Network uses a unique architecture called Basechain and Sidechain to achieve this. Basechain is a security layer that is responsible for validating transactions and maintaining the state of the network. Sidechains are application-specific chains that are connected to Basechain. Sidechains can process transactions much faster than Basechain and can be tailored to the specific needs of each dApp.

Loom Network has a number of advantages over other scaling solutions. First, it is very secure. Basechain is secured by the Ethereum network, which is one of the most secure blockchains in the world. Second, Loom Network is very scalable. Sidechains can process thousands of transactions per second, which is much more than Basechain can handle. Third, Loom Network is easy to use for developers. Developers can use the Loom SDK to build dApps that are scalable and secure.

Recent Loom Coin News

Loom Network Launches Loom SDK 2.0: On September 15, 2023, Loom Network launched Loom SDK 2.0, a major update to its development kit. Loom SDK 2.0 makes it easier than ever for developers to build scalable dApps on Loom Network. It also includes a number of new features, such as support for EVM smart contracts and a new developer portal.
Loom Network Partners with Chainlink: On September 12, 2023, Loom Network announced a partnership with Chainlink, a leading provider of oracle solutions. This partnership will allow Loom Network developers to access Chainlink's network of oracles to securely and reliably connect their dApps to real-world data.
Loom Network's PlasmaChain Alpha Test Goes Live: On September 10, 2023, Loom Network launched the alpha test of its PlasmaChain solution. PlasmaChain is a new scaling solution that will allow Loom Network to process millions of transactions per second.
Disclaimer

I am not a financial advisor and this is not financial advice. Please do your own research before investing in any cryptocurrency