The startup offers a multichain interoperability platform that enables developers to deploy large-scale decentralized applications without requiring users to download crypto wallet software. By integrating with major blockchains like Bitcoin and Ethereum, the platform enhances user experience and simplifies onboarding, facilitating high-performance application launches across multiple chains.
Funding
$25.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
DApp developers face challenges in achieving scalability and seamless user experience due to the limitations of individual blockchain networks and the complexities of onboarding users with crypto wallets. Siloed blockchain environments also restrict dApp reach and create vendor lock-in risks.
Solution
Loom Network provides a multichain interoperability platform that enables developers to build and deploy high-performance dApps accessible across multiple blockchain ecosystems. By leveraging its Basechain and integrations with major blockchains like Bitcoin, Ethereum, Binance Chain, and Tron, Loom Network allows developers to scale their applications and reach a wider user base without requiring users to download crypto wallet software. The platform offers fast transaction speeds, low costs, and a frictionless user experience, making dApps more accessible to mainstream users. Loom's architecture supports both zkRollup and Optimistic Rollup scaling solutions, ensuring security and efficiency.
Target Audience
The primary target audience includes DApp developers seeking scalable, user-friendly, and multichain solutions for deploying decentralized applications across various blockchain platforms.
Features
- Multichain interoperability with Bitcoin, Ethereum, Binance Chain, and Tron
- Basechain, a Delegated Proof of Stake (DPoS) blockchain optimized for fast confirmation times and high transaction throughput
- zkLoom protocol, a zkRollup-based scaling solution for improved performance and security
- Loom SDK for quickly deploying specialized Loom chains
- Cross-chain oracles for secure data transfer between chains
- Support for custom transaction types, including account creation, messaging, and voting
- Universal Transaction Signing, allowing users from any major chain to access dApps with their native wallets
- LOOM token staking for securing Basechain and earning rewards