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      Loom Network

      Loom Network

      Total Supply
      Circulating Supply
      Max Supply

      Loom Network(LOOM) price, charts, marketcap

      1 LOOM = 0.0300000 USDT 0.33%

      About Loom Network

      Loom Network is a cryptocurrency with a total marketcap of 30,000,000.00. The total supply is 1,000,000,000.00 with a circulating supply of 967,809,036.00 and a max supply of 0.00.Loom Network is a great cryptocurrency ranking in the top 500 of our coin ranking.The total traded volume in the past 24 hours on the exchanges our watchdog keeps his eyes on is 342.26 and the opening price of the day is 0.03. The change in price in the past 24 hours is 0.00.Add Loom Network to your watchlist for better visibility or add an alert for Loom Network so you’re always up-to-date and aware of any price movements.

      Read more about Loom Network

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      Total Supply
      Circulating Supply
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      Loom Network



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      History of Loom Network(LOOM)

      Loom Network like all other cryptocurrencies is based on the model of the first actual cryptocurrency, Bitcoin. However, before Bitcoin’s and Loom Network’s time , cryptocurrencies were much more different, relying instead on a centralized power structure rather than the decentralized governance we see today. If it weren’t for the works of cryptographers such as David Chaum, Wei Dai, Nick Szabo and Hal Finney, who established some of the ground concepts for modern cryptocurrencies, Bitcoin, Ethereum and Loom Network would not exist today. However, the most important reason why Loom Network was made possible is thanks to a person or a group of people under the alias Satoshi Nakamoto. He took the concepts that cryptographers before him established and managed to create an actual peer-to-peer electronic money system that couldn’t be counterfeited. If Satoshi Nakamoto didn’t create Bitcoin, it is hard to say if Loom Network or most cryptocurrencies would exist today.

      Loom Network is a cryptocurrency with the symbol LOOM and it’s price ticker on our website is 0.03. Its current price is 0.03 and the total change over the past 24 hours is 0.00. Loom Network boasts a volume of 342.26 in the past 24 across your selected exchanges.

      Loom Network Characteristics

      Cryptocurrencies like Loom Network use strong cryptographic protocols, or very complex computer code to secure transfers of information, in order to create a safe system that is notoriously difficult to crack. The programmer of digital currencies such as Loom Network base these protocols on complex mathematic and computer engineering fundamentals, creating a structure that makes it impossible to replicate funds for Loom Network and also hides the identities of the parties involved on any transaction on Loom Network network , unless the participants freely disclose their information.

      Loom Network Operates on a Blockchain

      Loom Network, like most cryptocurrencies operates on a blockchain, a new and disruptive technology that offers benefits for storing, securing and transferring information that was not otherwise possible before its inception. The idea of blockchain was first discovered in 1991 by Stuart Haber and W. Scott Stornetta, however it was not until an anonymous person or group under the alias of Satoshi Nakamoto that created the first functional blockchain (Bitcoin’s blockchain) and improved on the ideas of Haber and Scornetta to create a truly functional distributed ledger.

      You can imagine the blockchain that Loom Network is based on as a giant, distributed database where every transaction’s information is recorded and then spread on a massive network of connected nodes or computers. The information for transaction of Loom Network is then multiplied and stored on each individual node, so in order to change it you would have to access he majority of the Loom Network’s nodes at the same time, which has so far proven to be impossible.

      The advantages that Loom Network runs on a blockchain are that it is very cost effective to run, compared to other centralized resources, due to the cost of operating being split amongst all the network participants.

      No one can alter the defining characteristics that govern Loom Network base, unless certain conditions are met and changes are implemented by the developer team or a network wide consensus is reached for the changes to be applied.

      One disadvantage of operating on a blockchain is that generally, transactions with Loom Network are final, meaning that is very unlikely that a transaction can be rolled back if a mistake occurs. Be careful when transacting cryptocurrencies such as Loom Network and make sure you double check all the details of the transaction before submitting it.

      Loom Network also boasts a higher degree of safety, as the mechanisms of the blockchain are incredibly hard to crack

      Loom Network Advantages

      Decentralized Point of Control

      Loom Network (LOOM) is defined by a decentralized governance system, which does not rely on a single point of control to manage transactions on the network in the same way a bank would. Because of this Loom Network’s network features a distinct advantage that makes it very difficult to counterfeit or imitate. Another advantage of being decentralized is that any attacks on Loom Network’s network will have to be in multiple places at the same, whereas a bank or any centralized system will have an host of servers in one place.

      Cost Efficient

      Generally speaking, auditing records is a time consuming and expensive process, whereas for Loom Network which stores all its records on the blockchain, this can be done with minimal effort and in a much shorter time.

      Establishing a Digital Identity

      You can create your own identity on the Loom Network blockchain, which can be though of as an account of sorts. Whenever you open an “account” on the Loom Network blockchain, you will be given a private key, which lets you interact with the blockchain, and a public key, which let others identify and interact with you.


      Since all information that is transmitted on the Loom Network blockchain is stored and secured on a wide network of computers or nodes, you can always be sure that the information presented is valid and has not been tampered with.

      Loom Network Supply Details

      Loom Network is distinguished from traditional fiat currencies due to way the supply works for most cryptocurrencies. Another interesting fact about Loom Network’s supply is there can be two other types of supply aside from the maximum supply. One is the total supply which indicates the amount of coins there are currently in existence. For Loom Network the total supply is 1000000000. This is the sum of all Loom Network units that have been mined or created since the network’s creation. . The other one is the circulating supply which for Loom Network is 967809036. This can be different that the total supply due factors such as funds being locked in escrow, coins being locked in masternodes.

      How to Store Loom Network

      There are a few way to store your Loom Networks , and they all involve a certain types of both physical and electronic wallets. Regardless of what kind of wallet you will use, in order to access your Loom Network funds you will need to have a private key and a public key. With the private key, you can access your funds and send them to whoever you like, just as long as it is an address that Loom Network is compatible with. Never ever disclose your Loom Network private key or also called private address, as this will give anyone who has it full control over your wallet. The other type of key is the public key or address, which is used for other people to send Loom Network to your wallet, and this one can be freely disclosed but it can be used to identify you if a name is ever associated with your public address.

      Loom Network Paper Wallet

      The only physical and non-electronic way to store your Loom Network is through a paper wallet, and this is possibly the safest way to protect your Loom Networks. Simply write the private and public keys of your Loom Network wallet on a sheet of paper, however you will need access to an electronic device should you choose to send or move your Loom Network funds to another address. The risk here is losing or damaging the sheet of paper with your Loom Network public key.

      Loom Network Hardware Wallet

      You can store Loom Network on a device like a Trezor or USB drive. You are able to make online transactions by plugging them into any any net enabled device to send Loom Network to another address. Usually the hardware device that you store your Loom Network on is offline which is a great security advantage. Please conduct proper research before purchasing any hardware wallet to store Loom Network funds on as many are outdated or of poor quality.

      Loom Network Desktop Wallet

      Desktop wallets are a convenient and easy way to store your Loom Network coins. Find a reliable wallet software that support Loom Network install it on your PC and that’s pretty much it. It can be dangerous if any virus infects your PC or if any physical damage comes to it, which can result in the loss of all your Loom Network funds.

      Loom Network Online Wallet

      For online wallets, they operate in the cloud and your private and public keys for your Loom Network funds are stored in the cloud as well. Very handy if you plan to access it from multiple devices but they also put your Loom Network at great risk due to security breaches in the cloud storage which is not that unheard of.

      Loom Network Mobile Wallet

      The most easy-to-use method of storing Loom Network is on a mobile wallet. It is a simple smartphone application where you set up an account and you can use it to send Loom Network by scanning a QR code or even use it to pay in any shops that accept Loom Network. However, your Loom Network funds can be lost if your phone is damaged or if its security is breached.

      Loom Network Summary

      Loom Network’s network can be defined as a payment system, with accounts, transactions and balances. You can store Loom Network on one of the wallet types mentioned above and it will act as your own personal bank account that you are responsible of maintaining and keeping your private keys secure. Loom Network as a cryptocurrency allows you to make secure transactions and you can always check the transaction details by checking the Loom Network public ledger, if applicable. This revolutionary method of being your own bank assured that Loom Network and other cryptocurrencies will play a vital role in the way we conduct transactions and how we define currencies in the future.

      What you can do with Loom Network on CoinExchangeData.

      You can add Loom Network to your watchlist on our platform, in order to keep better track of its price movements. Another handy way to always be up-to-date with any prices changes is to add alerts for Loom Network and you can do so by set up your personalized alerts by creating an account and going to the alerts tab. Charts and price metrics for Loom Network are readily available and we guarantee that the information supplied by CoinExchangeData is as accurate as possible. All the volume and price information regarding Loom Network reflects the same information you can find on exchanges, so it is very easy to find the best exchange to purchase or sell Loom Network on. Our converter lets you find accurate conversion quotes for Loom Network against other cryptocurrencies and most traditional fiat currencies. You can use it to see if exchanging Loom Network for another digital currency can be a more profitable investment or just to check the value of your portfolio.

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