Loom is a coin being offered on Etherium as a scaling solution for running dapps. It plans to be comparable to an Eos on top of Etherium. It’s primary feature will be a Software Development Kit for building sidechains called dappchains on Etherium. The SDK will provide coding for underlying blockchain infrastructure. Developers will be able to choose various consensus mechanisms, including DPoS to achieve highest transaction rates. Loom will also support Plasma cash enabling ERC-721 tokens. This all translates into scalable, sub-second, gas-less transactions, like EOS. Users will stake coins to run their dappchain, it will have no further cost.
DPoS provides massive scalability but requires transaction validators. Dapp developers might need that high performance, but not want to set up an entire validator candidate system. Loom will be launching a shared sidechain named ZombieChain that dapps can be built on for a fixed monthly price. The cost will be set by resource consumption. At launch the fee will be 1 Loom coin per month and a minimum 10 Loom coins staked to run a dapp. This fee will be paid out of the staked amount and will need replenished monthly as they are spent. Transaction validators will be paid by the fees.
There is a 1 billion coin market cap on Loom. They have developed delegate call a Q&A dapp, cryptozombies a solidity code school, and have launched a beta SDK. The team states they want to develop product first, before writing documentation. There is no Loom whitepaper. This has proven effective for them to remain fluid in ideation and constantly growing in development progress. Loom seeks mass adoption and is doing a kickstarter for publicity of their first dappchain game, Zombie Battleground. It will be a collectible card game resembling magic the gathering. Backers will receive monthly beta versions starting in August for testing, and limited edition rare cards. The game passed its pledge goal of $250,000 with 40 days to go.
