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Jobs at BTCManager Don’t miss out on the latest news Get BTCMANAGER delivered right to your inbox The Berlin Summit is attended by the full gamut of the cryptocurrency sector starting from the biggest exchanges to brokers, March 20, 2018 1:45
by Nuno Menezes Loom Network says it has developed a next-generation Ethereum-based blockchain infrastructure that is faster, more stable and scalable to the point where it can support large social apps and games such as the World of Warcraft. Loom Network was founded by Matthew Campbell, Luke Zhang, and Duffy in 2017 and is a Platform as a Service (PaaS) built to allow Solidity-based decentralized applications (DApps) to be run on the Ethereum blockchain.
The Bangkok-based platform has claimed it has recently raised $25 million in funding. The company was responsible for the development of CryptoZombies, a learning resource that teaches developers how to write smart contracts using a sequence of interactive guides.
The tutorial purpose is to allow developers build their own crypto-collectable Zombie Game. Despite the fact that the CryptoZombies learning resource app launched a couple of months ago, over 130,000 developers have used the resource to learn how to write smart contracts.
According to VentureBeat, co-founder of Loom, James Duffy, said: “With Bitcoin came the world’s first blockchain Ethereum took it a step further by allowing developers to upload indelible pieces of code into the blockchain, called ‘smart contracts.’ Loom Network is the next logical step in this evolution – it allows developers to run these unstoppable applications on a massive scale.” The infrastructure of a decentralized blockchain relies on an instant spread of information across a worldwide network of computers across the internet, enabling them to keep transparent and accurate tamper-free records; however, this sort of process is slow and affects the overall speed and capacity of the network. Cryptocurrencies are now known to have a speed and scalability limit, and right now developers are struggling to present new ways to solve the issue.
Back in December, the Ethereum network experienced some kind of congestion when CryptoKitties, a popular game where you breed kittens to sell them afterward, brought Ethereum to its knees as the number of transactions demanded every second was such that the network got “bloated.” With this new blockchain infrastructure, Loom Network is looking to sort the issue out. The company wants to allow access to more computing power at lower costs to app developers has an incentive for the development of new DApps as well as new smart contracts developed for small tasks such as applications that can run independently from the blockchain. Read more from btcmanager.com…
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