US startup announces Ethereum boosting solution

Posted 16 March, 2018

USA's Lool Network has developed a new solution designed to expand Ethereum network performance.

According to the media reports, the company has presented a developer toolkit which can allow launching Ethereum-based scaling applications. The key feature of the project is dappchains or mini-blockchains in the other words. In reality, Loom Network creates separate sidechain every time when a developer launches a new application, which is connected with the Ethereum blockchain. This solution is aimed at easing off the load from the main network.

"Basically, the Loom platform is a developer platform to make it simple to make highly-scalable apps on the blockchain," commented a company representative.

At present, dappchains are centralized and controlled by Loom Network, though decentralization is possible in the future. The company believes that decentralization is not required everywhere, so sidechains will be useful for less significant tasks, while the major ones should be made via the key Ethereum network.

However, the business development manager added that along with benefits, the project naturally has some weaknesses. "It's not going to have the same level of security that the main Ethereum network will have," he said. 

It stands to mention that the project is in beta now and available to limited number of Ethereum-developers.

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19 March, 2018 11:12

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