Loom Network (OLD) Price
LOOMOLD
How Much is 1 Loom Network (OLD) (LOOMOLD)
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Last Updated on Dec 20, 2025 05:07 PM
What is Loom Network (OLD)?
About the coin
Loom Network is a next-generation blockchain application platform designed to enhance the scalability of Ethereum. It operates as a Layer 2 scaling solution, utilizing a network of Delegated Proof of Stake (DPoS) sidechains. This setup allows developers to create highly scalable games and user-facing decentralized applications (DApps) while maintaining the security provided by the Ethereum mainnet.
Main features
Loom Network's DPoS sidechains are often referred to as EOS on Ethereum due to their high scalability and throughput capabilities. These sidechains offer the same performance benefits as alternative platforms like EOS, but with the added advantage of being fully compatible with Ethereum. This compatibility ensures that developers can leverage the robust security features of Ethereum while enjoying enhanced scalability.
How it works
The Loom Network has been operational since March 2018, providing a live production environment for developers to build on. One of its key innovations is the implementation of Plasma Cash, which allows Ethereum-based tokens to be utilized on Loom sidechains. This integration ensures that tokens retain the full security guarantees of Ethereum, making Loom Network a secure and scalable solution for blockchain applications.
Wallet for Loom Network (OLD)
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Tangem supports networks for Loom Network (OLD)
- Ethereum
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Loom Network (OLD) FAQ
- Loom Network (OLD) is a blockchain-based digital asset used for transferring value and interacting with decentralized applications. It operates without central control, relying on distributed network technology.
- Loom Network (OLD) offers efficient transactions, strong network security, and support for decentralized applications. Its design aims to provide a reliable user experience.
- Yes. LOOMOLD is the trading symbol used to identify Loom Network (OLD) on exchanges and charts.
- You can buy Loom Network (OLD) using on-ramp services available in Tangem Wallet or exchanges. After purchasing on an exchange, you can transfer it to your Tangem Wallet.
- The safest option is to use a hardware wallet that keeps your private keys offline. Tangem provides secure cold storage protection.
- LOOM is thedigital token used to pay for services on the Loom Network. It is built on Ethereum in accordance with the ERC20 standard for tokens. In order to run a decentralized app (dApp) on the Loom Network, a developer must stake LOOM. The Loom token is not mined.
How to secure Loom Network (OLD) with Tangem Wallet?
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