Loom Network introduced the solution for scaling Ethereum

Loom Network introduced the solution for scaling Ethereum


The American startup Loom Network introduced a new platform designed to increase Ethereum’s performance, reports CoinDesk.

As the publication states, the company introduced a set of tools for developers that allows you to run scalable applications based on Ethereum. The key feature of the Loom Network solution is the use of so-called “dapp-chains”, which are mini blockchains that are linked to the main network.

So, when the developer creates a new application, Loom Network allocates a separate Sydney for him. The latter is connected with the main blockchains Ethereum and is intended to remove excessive load from it.

“In essence, Loom is a platform for developers, which makes it easy to create high-scalable blockchains applications,” said Michael Cullinan, Loom Network business development manager.

At the same time, he noted that the new solution is not a “silver bullet” and he has a number of significant disadvantages.

“He does not have the same level of security as the Ethereum core network,” he added.

So, at the current stage, the blockchain works centrally and controlled by the Loom Network. However, Cullinan believes that decentralization is not needed everywhere, and therefore such sydney can be used for less significant tasks, while key processes can be performed using the resources of the main Ethereum network.

“Commenting or changing an avatar does not necessarily require the level of security provided by the core network of Ethereum. All this can be done with the help of sidechain, “- said Cullinan.

Thus, it is assumed that developers themselves can decide which processes to remain decentralized and which ones do not. At the same time, the project intends to “open” the Loom Network over time, making it more decentralized.

Currently, the solution is in the closed beta test and is only available to several Ethereum developers.

It should be noted, before the startup Loom Network has attracted $ 25 million during the closed tokensale. The development of the company is based on the Colorado TechStars Startup Incubator.

Recall that a week ago, Vitalik Buterin introduced a solution for scaling the Plasma system, designed to increase the productivity of the  Echo blockchains.

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