Posted on

Loom Network – A Fertile Ground For Trendy dApps

750 Views
0 Total shares
Loom Network - A Fertile Ground For Trendy dApps

One industry which has witnessed a swift adoption of blockchain is the online gaming and gambling industry. There is a lightning-fast growth in the number of decentralized applications (dApps) developed in this lucrative space.

Gaming and Gambling dApps to Boost Mass Crypto-Adoption

According to the stats provided by the State of the dApps, there are 367 gambling dApps with nearly 20K monthly active users. Similarly, there are 408 gaming dApps with over 13.3K monthly active users.

In comparison to other categories, it is apparent that these two sectors have the highest number of decentralized applications. Moreover, if you observe carefully, gaming and gambling apps together account for 1 million monthly transactions.

Thus, the online gaming and gambling industry is a major contributor to propel cryptocurrency mass adoption. Surprising to see that it has also overtaken exchange and wallet dApps by a huge margin.

However, the Ethereum network is currently very much over-crowded. As a result, it is in no position to accommodate the growing demand of users and transactions. There is no need to worry as we already have the Loom Network, currently under live production, to address scalability issues.

Loom Network – A Layer 2 Solution for Scalable Blockchain Games

Popularly dubbed as the “EOS of Ethereum,” the Loom Network allows development of dApps with very high transaction volumes atop the Ethereum network without causing any sort of congestion.

In short, it is a Layer 2 scaling solution for Ethereum currently under live production. The Loom Network enabled Delegated Proof-of-Stake (DPoS) as its consensus mechanism that allows for highly-scalable games and user-facing dApps. More importantly, it promises the same security as that of the Ethereum network.

Additionally, the Loom Network also boasts the building of the world’s first Plasma Cash implementation. It allows Ethereum-based security tokens to be used on Loom’s DPoS sidechains while keeping the security intact.

Spreading Knowledge on Developing dApps

Loom Network’s first successful product was the free interactive code platform – CryptoZombies. It helps developers to learn to build decentralized applications and games on the Ethereum network.

CryptoZombies has now over 300,000 users. James Duffy, co-founder of Loom Network says, “It’s been such a popular resource that it’s now become the world’s number one resource for getting started learning Ethereum development.

The Loom Network team has got its indigenous DelegateCall, a social Q&A platform bringing developers together to share knowledge and information relating to dApps development. Developers can get complete information, as well as post their queries on the official website.

RISK DISCLOSURE

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

 

Join our Telegram Group To Stay Up To Date With Crypto News

 

Daily updates








LATEST CRYPTOCURRENCY NEWS FROM CRYPTOBLOCKWIRE

We are your go-to news source for everything cryptocurrency and blockchain in the U.S. and internationally.

CryptoBlockWire is your home for the latest cryptocurrency and blockchain news. It’s our job to provide you with access to the latest breaking news regarding Bitcoin, altcoins, and blockchain technology. There is nothing more exciting than being at the forefront of the cryptocurrency movement and financial consumer technology. CBW’s extremely knowledgeable writing staff use their experience and enthusiasm to publish the most current, accurate, and helpful stories in the entire crypto-sphere.