Loom is a cryptocurrency platform that is created on the fundamentals of the Ethereum blockchain. Its main task is to solve the problem of performance, which users of the Ethereum network were suffering from. The developers of Loom Network offered their solution to the problem. Instead of running all applications on a single network, they introduced a set of tools to create a DAppChain — a sidechain or a mini-blockchain. That is, each individual application will run on its blockchain and thus not overload the main Ethereum network.
In general, Loom Network is mainly aimed at the creators of games and social applications. Also, financial issues that require increased security and honesty are implemented in the main Ethereum blockchain. The Loom network uses a second layer that is called the DAppchain. This chain contains functionalities that require less security. Examples are, chat functionality, changing an avatar or game commenting.
How to earn Passive Income with LOOM
First of all, users can earn LOOM dividends, by locking up LOOM tokens in collateral. Staking LOOM tokens goes as follows:
1. Acquire LOOM tokens at a cryptocurrency exchange
4. Click on 'Validators' in the menu and select one out of the list
5. Deposit LOOM to the chosen validator and click 'Delegate'
$0.04(-7.33%)24h
17.00%Annual yield
Ranking: 342
Loom Network(LOOM)
$0.04(-7.33%)24h
17.00%Annual yield
Loom is a cryptocurrency platform that is created on the fundamentals of the Ethereum blockchain. Its main task is to solve the problem of performance, which users of the Ethereum network were suffering from. The developers of Loom Network offered their solution to the problem. Instead of running all applications on a single network, they introduced a set of tools to create a DAppChain — a sidechain or a mini-blockchain. That is, each individual application will run on its blockchain and thus not overload the main Ethereum network.
In general, Loom Network is mainly aimed at the creators of games and social applications. Also, financial issues that require increased security and honesty are implemented in the main Ethereum blockchain. The Loom network uses a second layer that is called the DAppchain. This chain contains functionalities that require less security. Examples are, chat functionality, changing an avatar or game commenting.
How to earn Passive Income with LOOM
First of all, users can earn LOOM dividends, by locking up LOOM tokens in collateral. Staking LOOM tokens goes as follows:
1. Acquire LOOM tokens at a cryptocurrency exchange
4. Click on 'Validators' in the menu and select one out of the list
5. Deposit LOOM to the chosen validator and click 'Delegate'
Ranking: 342
Loom Network Dividends Calculator: How much passive income($) is possible with staking?
Calculate your Loom Network earnings in the tables below and see what your profits will be on a daily, weekly, monthly, and annual bases. Also, you have the possibility to see your earnings based upon the number of dollars invested vs the rewards of a given number of tokens.
Loom Network(LOOM)
