Loom Network, the small company is launching a developer toolkit that deploys ethereum apps that are scalable and easy to make. This plan leapfrogs efforts from competing cryptocurrencies such as Plasma and Raiden Network.
For Ethereum users, this release offers the network to be able to accept more users on its platform without losing processing speed. This project was made as a response to CryptoKitties, which congested the network’s space in late 2017.
Other developers created a few off-chain solutions that are currently in testing phase, Loom Network uses “dappchain” which acts like small blockchains off the main network.
Creating Decentralized Chains
To make scalable apps, Loom Network, which generated over $25 million in funding in its private token sale – uses a different method than competing scaling projects. When a developer makes a new program, it creates a new blockchain for the app and connects it to ethereum’s main network.
The process is used to create multiple sidechains and helps the apps have their own network and platform to run on. However there is a one small catch. Cullinan added “It won’t have the same security as Ethereum’s network. This is because the sidechains will be on Loom’s Network. As a result, it reduces the amount of actions sent on ethereum’s network which helps users scale and use their apps without taking too much space.
“Changing a profile picture or commenting doesn’t need ethereum’s mainchain for security.” Cullinan stated “Smaller actions will happen on Loom Network’s sidechains”. However, the project plans to use ethereum’s censorship and security that it offers”
Knowing that each transaction will be handled differently and are separate from each other is one of the many reasons why Cullinan is hopeful for Loom’s success. The startup offers a wide range of options and allows developers to decide how much data they want to send over to the ethereum network.
And Loom Network will “open” its network as time progresses in order to make it more decentralized.
What’s Next for Loom Network?
Loom Network is a scalability project that’s first to use a centralized model for each application that’s developed on it. Crypto enthusiasts argue if this approach will work, since apps already made on Loom Network work, and reduces the difficulty of having to make ethereum blockchain applications in the future.
Earlier this week, Loom Network created Delegate Call, the first app that uses their blockchain framework. It’s similar to Stack Overflow, the question-and-answer developer forum that’s increased in popularity over the ears. And, the team created three other apps that have their own Loom Network “sidechains.”
For now, Loom Network remains in closed-beta. It’s open to a few ethereum developers that want to test building apps on its platform. As time progresses, Loom Network will become open sourced so developers can work together and help debug small issues that might appear within its coding.
Ultimately, Loom Network proves to be a good startup crypto project. When it’s fully launched, we hope to see more high-quality apps that can scale and not be limited by Ethereum’s network. So, we’ll have to wait to see how this project applies itself within the next couple of months.
Disclaimer: The content produced in this post should be used for information and not financial advice. When investing in the cryptomarket, do so at your own risk.