Loom Extends Support For EOS And TRON through PlasmaChain Ecosystem
After last month’s announcement that Chorus One will act as a validator for Loom’s PlasmaChain ecosystem, Loom Network continues its rally of good news. Chorus One is a popular U.S. staking and node validation service known for its Cosmos network involvement.
On Wednesday, Loom Network revealed that both TRON (TRX) and EOS (EOS) would be integrated into PlasmaChain to improve the ecosystem of the dApp development company further.
Loom Network is a blockchain platform that takes into account major social applications and games. The platform has been developed to show that blockchain technology applications are not only transactions. Loom Network is a blockchain platform that has been designed to support large – scale social applications and games. The platform was designed to demonstrate that blockchain technology applications are not restricted to transactions.
PlasmaChain is a leading Loom project that aims at the side of a delegated proof- of – stake (DPoS) link multiple blockchains with Ethereum (ETH). The platform is designed primarily to support developers with increased interoperability between several blockchains.
PlasmaChain acts literally as an extension of the current Ethereum user account, which enables developers to access the entire pool of existing Ethereum users, but also to produce highly scalable and frictionless DApps which could not be built alone on Ethereum.
The EOS and TRON users can easily buy different products from the PlasmaChain dApp with the use of the TRX and EOS tokens after further questions. However, this is not all because only their TRON or EOS wallets can sign for transactions. This ensures that the PlasmaChain is integrated directly into the layer of your choice
The collaborative effort will enable users to complete transactions on all decentralized PlasmaChain apps (dApps) using the ETH, TRX or EOS touchstones without having to accommodate the three networks separately. The new development will allow “dap developers to offer dApps” Loom, co-founded James Duffy.
This ultimately expands the potential user base of each PlasmaChain game or dApp developed while limiting instances in which gamers are distinguished simply because of differences in blockchain platforms. Although the project seems to have anticipated the news of Ethereum zealots, it appears to have gained market reception as LOOM is eight.8% up on the day at $0.072598, which gives the altcoin a market capital of $55.4 million.
The decision comes after a massive increase in dApps on blockchains Tron and EOS. In a blog post, LOOM confirmed that the platform still focuses mainly on Ethereum, but recognizes the advantages offered both by EOS and Tron to the dApp development group.