#LOOM NETWORK CODE#

It has more than 10,000 users and lets those users compile, test, then run various snippets of Solidity code from all over the web. There will also be future token-based rewards for those who finish lessons, providing educational proof.ĮthFiddle is the top Solidity code sharing site, designed for sharing snippets of code. Very soon, this DAppChain will let you transfer zombies to the mainnet, then import them into other games with a related theme simply by holding a LOOM membership token. So far, there are about 130,000 students. It teaches players to write their own smart contracts with Solidity by creating their own crypto-collectibles game. The dapps span a range of topics and uses, showing the versatility of Loom Network.ĬryptoZombies, for example, lets you code your own game as a way to teach coding Ethereum dapps. Other dApps on LoomĪlthough DelegateCall was the first DAppChain from Loom Network, it is no longer the only one. From there, you can sell them for ETH and turn your token earnings into money. To give an example of the LOOM token’s functionality with DelegateCall, by owning a LOOM token, you are able to transfer the DelegateCall karma points that you earn to Ethereum. With DelegateCall, users can earn tokens simply by posting and/or answering questions. It is the very first DAppChain to go live that was built by Loom Networks, utilizing real tokens backed by Ethereum that run on a scalable and lightning-fast network. DelegateCallĭelegateCall is a Q&A website that is based fully on the blockchain and runs with a DAppChain. You can buy them via the Loom Network website with the MetaMask plugin. Otherwise, you will have to buy at least one token before completing the transfer.Īt the time of writing, tokens were on sale for $1.99 each (0.003 ETH), compared to $4.99. As long as you have a minimum of 1 LOOM token, the asset transfer will continue. Anytime you try to transfer an asset from one of the Loom DAppChains to Ethereum or complete a transfer between DAppChains, the dapp will first check your LOOM token balance. It is an ERC20 token, and you hold it in an Ethereum wallet since it is on Ethereum.

#LOOM NETWORK SOFTWARE LICENSE#

This functionality as a membership token works since the token acts as a software license key.

Think of the LOOM token as your lifetime membership card to everything on the Loom Network. The token functions on all DAppChains that run on Loom Network and lets you transfer digital assets and data between Ethereum and Loom DAppChains. The LOOM token is a membership token that gives users an all-access pass for the dapps that run on Loom Network. Instead, the social apps are monetizable thanks to karma tokens and allow for the minimization of trust and the ability to expand with multiple-client apps. In terms of social apps, the big news is that Loom Network allows for applications that are not driven by advertising. This can include universes that span multiple games, eternal worlds, tradeable tokens, and items that are provably scarce. With Loom Network, it becomes possible to build a range of games that simply are not possible without using blockchain technology. The Loom SDK lets developers focus on creating their application instead of having to implement a consensus layer. You can then release the node software that is fully containable and will run on any of the major cloud platforms. You can select every single element of the sidechain, including your consensus mechanisms and a ruleset that you build yourself. The Loom SDK makes it possible for developers to create their own DAppChain. Examples include Ethereum-based crypto collectibles and token-based karma, with everything being based on blockchain rulesets that are decentralized, forkable, and readable by humans.

The Loom Network DAppChains were specifically built for social apps and games. Each dapp has its own DAppChain, allowing for forkable, public data, as with Bitcoin and Ethereum. DAppChains are essentially a more advanced version of Ethereum sidechains that have been optimized for their ability to scale data instead of financial transactions. The DAppChains on the Loom are full-featured blockchains that were built to run parallel with Ethereum smart contracts.

Loom network