Loom Network Price

Loom Network (LOOM) is a cryptocurrency that operates on the Ethereum platform. It's designed to provide scalable solutions for decentralized applications (dApps) and enterprise-level blockchain implementations. As of 2026-02-02, Loom Network ranks 4352 among all cryptocurrencies with a price of $0.0001192 and a 24-hour trading volume of $51.28K. The token has a circulating supply of 1.24B LOOM and a total supply of 1.3B LOOM. Loom Network aims to address scalability issues in blockchain networks by offering a second-layer solution that enables faster and more efficient transactions. It supports various use cases, including gaming, social media, and enterprise applications. The project is part of the Cosmos and Ethereum ecosystems, focusing on interoperability and cross-chain communication. Loom Network also incorporates DeFi features and scaling solutions, making it versatile for developers and businesses looking to build and deploy blockchain applications with improved performance and reduced costs.

Loom Network was created on March 14, 2018. It was launched as an Ethereum-based token designed to support scalable decentralized applications. The project aimed to address blockchain scalability issues by providing a second-layer solution for Ethereum. Since its inception, Loom Network has evolved to become a multichain interoperability platform, supporting various blockchain ecosystems including Ethereum, Binance Smart Chain, and Cosmos. As of 2026-02-02, Loom Network continues to operate as a platform token, facilitating transactions and governance within its ecosystem.

The founders of Loom Network are Matthew Campbell and James Martin Duffy. They established the project in 2026 with the goal of creating a scalable blockchain platform for decentralized applications. Campbell and Duffy have extensive experience in blockchain technology and software development. Their vision for Loom Network was to address Ethereum's scalability issues by providing a second-layer solution that allows for faster and more efficient transactions. Since its inception, the Loom Network team has expanded to include other talented developers and blockchain experts who have contributed to the project's growth and development. The founders remain actively involved in guiding the strategic direction of Loom Network as it continues to evolve in the rapidly changing blockchain ecosystem.

Loom Network operates on the Ethereum blockchain as an ERC-20 token. It functions as a utility token for the Loom Network Network, which is a Layer 2 scaling solution for Ethereum. The network uses Delegated Proof of Stake (DPoS) consensus to achieve faster and cheaper transactions. Key features of how Loom Network works: 1. Sidechains: Loom Network enables developers to run large-scale applications on sidechains, reducing congestion on the Ethereum mainnet. 2. Interoperability: It allows assets to move between different blockchains, enhancing cross-chain communication. 3. Staking: Users can stake LOOM tokens to become validators or delegate their tokens to existing validators, securing the network. 4. Plasma Cash: This technology enables secure and scalable non-fungible token (NFT) transactions. 5. DAppChains: Developers can create application-specific blockchains tailored to their needs. The Loom Network token is used for paying transaction fees, staking, and governance within the ecosystem. As of 2026-02-02, Loom Network is trading at $0.0001192 with a market cap of $148.19K. The project continues to evolve, focusing on scalability solutions for Ethereum and other blockchain networks.

Loom Network utilizes a multi-chain architecture, combining Ethereum and Cosmos technologies. It operates as an ERC-20 token on Ethereum and leverages Cosmos SDK for its own blockchain. The network employs Delegated Proof-of-Stake (DPoS) consensus mechanism, allowing for high scalability and fast transactions. Key components of Loom Network's architecture include: 1. Basechain: The main blockchain built on Cosmos SDK, handling core operations and validator management. 2. DAppChains: Application-specific sidechains that can be customized for different use cases, improving scalability. 3. Transfer Gateway: Facilitates asset transfers between Ethereum and Loom Network's basechain. 4. Plasma Cash: An implementation of Plasma technology for secure and efficient token transfers. 5. ZK-rollups: Used for scaling and enhancing privacy in certain operations. This architecture allows Loom Network to achieve high throughput, low latency, and interoperability with Ethereum and other blockchain networks. It's designed to support enterprise-grade applications while maintaining decentralization and security. As of 2026-02-02, Loom Network continues to evolve its technical infrastructure to meet the growing demands of the Web3 ecosystem.

Loom Network's future looks promising with a focus on scaling solutions and enterprise adoption. The roadmap includes enhancing interoperability across multiple blockchains, particularly within the Cosmos and Ethereum ecosystems. By 2026, Loom Network aims to expand its DeFi offerings and improve its Layer 2 scaling technology. In 2027, the project plans to launch new enterprise-focused features and expand partnerships in the business sector. 2028 will see further development of cross-chain capabilities and integration with emerging blockchain platforms. Long-term goals for 2031 include becoming a leading platform for decentralized applications and establishing a robust ecosystem of developers and users. The team is committed to continuous improvement of the network's security, efficiency, and user experience. With its current price at $0.0001192 and a market cap of $148.19K, Loom Network has potential for growth as it executes its ambitious roadmap and capitalizes on the increasing demand for scalable blockchain solutions.