Loom Network (LOOM), a blockchain-gaming network that also facilitates social applications, recently emphasized that the games will lead to the adoption of blockchain. This was in particular the Ethereum network which facilitates the creation of decentralized Apps.
According to Loom's report, two major challenges for the adoption of blockchain were inadequate DApps & UX practical inefficiencies. Therefore, most of the target market LOOM still uses current centralized applications.
The Decentralized Apps of Ethereum did not receive the traffic they expected from the point of view of the problems mentioned above. EOS, which is also in the intelligent contract space, was subsequently interested. Today, countable DApps have succeeded in registering over 500 active users on a daily basis. However, decentralized exchanges (DEX) have significant traffic but are disconnected from the practical scenarios in existing systems.
Loom emphasizes that games are a possible solution to DApp's current challenges as they are an outlet in most markets,
"Games, unlike apps, do not have to do anything 10 times better than any previous app and get users to skip the ship." Players are always looking for new fun games every month and try them on a whim "
The pioneering game developed by Loom & Zombie Battleground & # 39; it's relatively similar to mobile games, but uses the blockchain network.
Loom's competitors in the blockchain gaming networks
Enjin (ENJ) is one of the players in this arena; the blockchain-gaming project was launched in July 2018 on the Ethereum network. This milestone has allowed gaming enthusiasts to be able to enhance their gaming activities by counting token ERC-1155, so no encoding is required. These tokens facilitate the storage of collectibles on a single contract and ensure that they can be easily distinguished.
Head of Binance Labs, Ella Zhang is among the influential figures of cryptography who have stated that the game industry is the best entry point for blockchain technology. This major stock market has expanded its portfolio recently by partnering with the parent company NEO Global and others and raised $ 40,000 to support Cocos-BCX, a new company. The intention of start-ups is to provide a platform that facilitates the creation of games using blockchain.
Another player in this sphere is Kin Foundation, his native token known as "KIN" recognized the potential in games and blockchain. According to statistics, 20% of the $ 5 million Incubation money has been allocated to games that use the blockchain network. Kin is a popular supporter of DApps and so far the projects launched on his blockchain are showing good prospects. Kinit & Kik Messenger beta are the two main active networks on Kin at the moment. Their operations involve awarding prizes to survey participants or other audiences for feedback.
From the current market figures, Loom's idea that DApps will soon be in balance is not unlikely considering the traffic in the gaming industry,
Once you have a ONE ONE app that integrates one million users, it all accumulates on itself and snowballs from there.
Furthermore, Loom's blockchain initiative aims at a broader market with game developers in mind. The network facilitates the creation and execution of its DApps by using sidechains to increase the efficiency of the platform. Alternatively, users of this network can use their own SDK to develop their DApps with their preferred programming language.
Loom's team is very optimistic that a long-term solution will be created for the challenges in blockchain oriented games,
"By the end of 2018, we will have completely solved the problems of UX faced by blockchain games, making them feel perfectly equal to normal mobile games".
The native digital currency LOOM is in position 89 in the market capitalization with a value of $ 51 million according to the AltDex 100 index (ALT100). This is a proxy for large capitalization digital resources.