Loom Network introduced the solution for scaling Ethereum

The blockchain startup from the USA of Loom Network has developed the decision which purpose is the increase in productivity of Ethereum network. This information is given by CoinDesk.

The decision represents set of tools for application developers on a blockchain of Ethereum which application will positively affect scalability. The key moment in the solution of Loom Network is the application of “dapp-chains” which are the mini-blockchains having communication with the main network.

In other words, at the time of creation of the new Loom Network application by the developer isolates from him separate sidechain which is connected to the main blockchain of Ethereum. Thanks to it additional loading will be removed from Ethereum network, “which could appear because of the start of the new application.

“It is possible to tell that Loom is a platform which will allow developers to create applications with high scalability” — the manager on the development of the Loom Network company Michael Kullinan has said.

At the same time, he was honest and has specified that this decision, not a panacea, and it has a number of defects.

“Safety of sidechain the is at the much lower level than Ethereum network” — quotes Michael CoinDesk.

At the moment dapp-chains work is centralized and Kullinan considers that decentralization is necessary far not everywhere — sidechain can be used for tasks which importance is small, only for unloading of the main network.

It is supposed that developers will be able to divide processes into those to which decentralization is required also on for what her existence isn’t critical. Now testing of the platform is at a stage of the closed beta check and access to him is open only for several members of the team of Ethereum.

In due time during the closed sale of tokens of Loom Network has managed to attract $25 million. The incubator of startups of TechStars which is based in Colorado promotes the company.

We will remind that last week Vitalik Buterin has announced the decision for scaling of Ethereum Plasma network which is intended to increase blockchain productivity.

Share:

Related Posts

You may like these post too

Leave a Reply

it's easy to post a comment