The edge that pays for itself.
Loom Network (LOOM) Price
Loom Network Price
Advantages of Cryptocurrency
Decentralization & Financial Freedom
Cryptocurrencies operate on decentralized networks, removing the need for intermediaries like banks. This enables peer-to-peer transactions, financial inclusion for the unbanked, and resistance to censorship or government control.
Transparency & Security
Blockchain technology provides an immutable, transparent ledger of all transactions. Cryptographic security makes it extremely difficult to counterfeit or double-spend, offering strong protection against fraud.
Global Accessibility
Anyone with an internet connection can send and receive cryptocurrency worldwide, 24/7, without geographic restrictions or banking hours. This is particularly valuable for international remittances.
Investment Potential
Cryptocurrencies have demonstrated significant long-term appreciation potential. Early investors in Bitcoin and Ethereum saw extraordinary returns, and the asset class offers portfolio diversification benefits.
Risks of Cryptocurrency
High Volatility
Cryptocurrency prices can fluctuate dramatically – often by 20–50% or more within short periods. This high volatility makes them inherently risky investments, and significant capital losses are possible.
Regulatory Uncertainty
The regulatory landscape for cryptocurrencies is still evolving globally. Sudden regulatory changes can significantly impact prices and accessibility, creating legal and compliance risks for investors and businesses.
Security Risks
Hacks, scams, and phishing attacks are prevalent in the crypto space. The irreversible nature of blockchain transactions means stolen funds are rarely recovered. Users must secure their private keys and wallets diligently.
Environmental Impact
Proof-of-Work cryptocurrencies like Bitcoin require substantial computational energy, raising environmental concerns. While the industry is transitioning toward more energy-efficient consensus mechanisms, the carbon footprint remains a significant criticism.
History of Cryptocurrency
The history of cryptocurrency begins with Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto. The Bitcoin whitepaper, published in October 2008, proposed a peer-to-peer electronic cash system enabling online payments directly between parties without going through a financial institution.
Bitcoin's first recorded commercial transaction occurred in May 2010 when Laszlo Hanyecz paid 10,000 BTC for two pizzas – a transaction now celebrated annually as Bitcoin Pizza Day.
The Rise of Altcoins
Following Bitcoin's success, thousands of alternative cryptocurrencies (altcoins) emerged. Ethereum, launched in 2015 by Vitalik Buterin, introduced smart contracts – self-executing agreements coded into the blockchain – enabling decentralized applications (dApps) and decentralized finance (DeFi).
The ICO Boom and Market Crash
The years 2017–2018 saw an explosion of Initial Coin Offerings (ICOs), where new projects raised funds by selling tokens. Bitcoin reached nearly $20,000 in December 2017 before crashing dramatically in 2018, triggering a prolonged crypto winter.
Institutional Adoption
The 2020–2021 bull run saw unprecedented institutional interest, with companies like MicroStrategy and Tesla adding Bitcoin to their balance sheets. Bitcoin hit new all-time highs above $60,000. The launch of Bitcoin ETFs and growing regulatory clarity further legitimized the asset class.
DeFi, NFTs & Web3
Decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), and the broader Web3 movement transformed the cryptocurrency landscape. Platforms like Uniswap, Aave, and OpenSea enabled entirely new financial and digital ownership models.
Today, the cryptocurrency market encompasses thousands of digital assets with a combined market capitalization in the trillions of dollars, representing a fundamental shift in how the world thinks about money, finance, and digital ownership.
Exchange
| Exchange | Market Pair | Price | Depth +2% | Depth -2% | Volume 24H | Volume % | Type | Liquidity Rating | Freshness |
|---|---|---|---|---|---|---|---|---|---|
| Upbit | LOOM/KRW | 0.00 | 8,969.97 | 4,494.72 | 106.62 M | 0.00 | cex | 1.00 | 5/7/2025, 8:00 AM |
| Bithumb | LOOM/KRW | 0.05 | 6,139.64 | 10,450.81 | 1.86 M | 0.19 | cex | 286.00 | 4/1/2025, 6:36 AM |
| OrangeX | LOOM/USDT | 0.00 | 941.63 | 1,715.76 | 793,251.90 | 0.11 | cex | 138.00 | 7/9/2025, 6:18 AM |
| Gate | LOOM/USDT | 0.00 | 138.67 | 307.05 | 121,154.76 | 0.00 | cex | 102.00 | 7/9/2025, 6:23 AM |
| SuperEx | LOOM/USDT | 0.02 | 245.74 | 345.55 | 119,960.23 | 0.00 | cex | 1.00 | 4/8/2025, 5:00 AM |
| MEXC | LOOM/USDT | 0.00 | 134.90 | 387.45 | 116,662.41 | 0.00 | cex | 52.00 | 7/9/2025, 6:18 AM |
| BYDFi | LOOM/USDT | 0.00 | 254.89 | 452.05 | 103,590.62 | 0.07 | cex | 1.00 | 7/9/2025, 6:21 AM |
| Bitget | LOOM/USDT | 0.02 | 1,691.67 | 2,888.36 | 91,450.27 | 0.00 | cex | 138.00 | 4/10/2025, 3:30 PM |
| Gate.io | LOOM/TRY | 0.03 | 25.28 | 117.68 | 52,748.74 | 0.00 | cex | 16.00 | 4/21/2025, 3:40 PM |
| CoinCatch | LOOM/USDT | 0.02 | 281.37 | 288.77 | 51,544.52 | 0.00 | cex | 114.00 | 4/10/2025, 12:21 PM |
Loom Network FAQ
Loom Network is a platform-as-a-service built atop Ethereum, designed to enable developers to run large-scale decentralized applications. The platform was launched on October 1, 2017. Its aim is to provide application developers with smart contracts that offer enhanced computing power when necessary, or maintain existing power levels at reduced costs for tasks such as onboarding new users or for applications that do not require the full security of blockchain initially. The system facilitates interaction with APIs developed by third parties that are not on-chain. Loom Network seeks to establish itself as the premier platform for smart contract developers to create applications without needing to adopt a new programming language. This allows for seamless integration of applications with external environments. Loom Network operates on Plasma, a scaling solution that enables faster transactions across the network. For more detailed information on Loom Network, you can find it on Eulerpool.
The Loom Network was established in 2017 by Matthew Campbell, James Martin Duffy, and Luke Zhang. Matthew Campbell is a co-founder and a principal of Loom Network. In addition to his role at Loom Network, he serves as the principal of Hyperwork Inc. His previous positions include lead software engineer at Digital Ocean, architect of an instant messaging server at Thomson Reuters, engine mechanic and co-founder of Errplane, Scala Dude at Tapad, architect at Bloomberg, technical architect at Thomson Reuters, senior R&D engineer at Bertelsmann, and lead technical engineer at Superdeluxe. Notably, he revamped the Gucci website using Ruby on Rails and served as a software analyst at Bellsouth, building on his programming background with Listman Home Technologies and Insurance House. James Martin Duffy holds the position of CMO at Loom Network. He is also CEO of Epictetus Ventures and founder of Auragin. His career history includes development work with the Cryptocurrency Trading Bot, founding KoreaJobFinder, and serving as lead developer at Casual Steps Inc. Prior to these roles, he was engaged as a freelance web developer and online marketer. Luke Zhang is a co-founder of Loom Network. Prior to this, he made significant contributions as a lead developer at BlockMason, and held developer roles at Elemica and Workopolis. Additionally, he has expertise in prototyping from his time at Shifthub.
Loom Network is a platform as a service that enables Ethereum Solidity applications to operate through side chains. This approach allows applications to implement consensus mechanisms tailored to their specific requirements and threat models. Loom facilitates the scaling of decentralized applications more efficiently and rapidly on the Ethereum network by utilizing DPoS sidechains for scalability of DApps while leveraging the security of the Ethereum mainnet. The LOOM token serves as a membership token that each participant acquires to gain access to the full suite of applications running on the Loom Network. This token functions across all DAppChains operating on the Loom Network and allows for the transfer of digital assets and data between Ethereum and Loom DAppChains.
The Loom Network is safeguarded by the zkLoom protocol, designed for efficient blockchain operations. As one of the most renowned open-source blockchains for smart contracts, the Ethereum network is supported by the second largest cryptocurrency. The zkLoom blockchain eliminates the need to trust validators by relying on the security assurances provided by Ethereum. By utilizing Ethereum for security, zkLoom blockchains can function securely with a minimal number of validators, facilitating the launch of new blockchains and enabling their operation at a reduced cost.
LOOM serves as the digital token utilized for transactions and services on the Loom Network. It operates on the Ethereum blockchain, adhering to the ERC-20 standard. It's important to note that the LOOM token is not mined. Rather, it is acquired by users who participate in DApps on the Loom Network. The total supply of LOOM tokens is capped at 1 billion.
The leading exchanges for trading Loom Network include: - Huobi - VCC Exchange - Coinbase Pro - Upbit - Bilaxy - Bittrex - Bithumb - HitBTC Additional exchanges can be found on our crypto exchanges page on Eulerpool.
Similar Cryptocurrencies to Loom Network
Discover cryptocurrencies similar to Loom Network and explore alternatives in the same category.