Loop Network (LOOP)

Author

Alex R.
October 04, 2022

Loop Network (LOOP)

Loop Network - Super Scalable Blockchain

LoopNetwork is a digital currency framework that supports smart contracts without the adaptability and security impediments of prior frameworks like Ethereum. The project permits parties to make savvy contracts utilizing code to indicate the conduct of the virtual machine (VM) that executes the agreement's capacity

https://www.theloopnetwork.org/

Summary

Market Cap: $8,494,874

Total Supply: 200,000,000

Circulating Supply: 180,000,000

Consensus Protocol: Proof of Stake and Authority (PoSA)

PoSA is a combination of PoA and PoS. Blocks are created by a limited set of validators, they are elected in and out based on a staking based governance. Validators take turns to produce blocks in a PoA manner

In Layman's Terms, Loop acts as an off-chain/external scaling solution similar to the Polygon's of the world.

Commonly referred to as the Blockchain Trilemma, Loop Network aims to tackle one of the main Trilemma "corners" by improving scalability and handling transactions off-chain. This inherently speeds up transaction speed and takes computational strain off the main network. In order to tackle the other two "corners" of the trilemma, Loop Network developed Blockchain with Advanced Consensus (pBFT), which stands for "Practical Byzantine Fault Tolerance".

Loop Network is EVM compatible, meaning that any smart-contract written to run in EVM can be easily passed to LOOP Chain.

Utility: 5.2

Loop Network reached a total 5000 holders on September 28th 2022. This makes it very challenging to judge utility with such a small sample size of users. You will find numerous YouTube videos shilling LOOP as a revolutionary coin that will 100x. I really do not see this being the case, and actually find it extremely irresponsible for content creators to promote such false information with little backing.

I understand that scalability is one of the main drivers behind most L2 coins out there, but in my eyes, LOOP seems to be very similar to many other L2's out there.

Roadmap: 1.0

I'll give LOOP a 1.0 because they have somewhat of a roadmap for Q1,Q2, Q3. No roadmap for 2023 is listed on their website. Checked their twitter and see that LOOP is more concerned with which DEX's they will be listed on instead of putting out a roadmap.

Partners 5.6

Not seeing any real partnerships other than being listed on a couple DEX's .

Staking 0.0

Not present as of now. Maybe they will incorporate in the near future, but nothing in writing on the website.

Ecosystem 3.0

Other than being able to build your own Dapp, I don't see how this is even an ecosystem yet. Tough to have an ecosystem when you only have roughly 5000 users.

iRankCrypto Overall 2.96

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*Each rating criteria is ranked out of 10. Overall ranking is determined by the 5 subjective variables (Utility, Roadmap, Partners, Ecosystem, Staking)

Disclaimer:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.