Cryptocurrency Q&A
What is the loom coin used for?
What is the loom coin used for?
HanjiArtist
Fri Oct 18 2024
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6 answers
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I'm wondering about the purpose of the loom coin. I've heard about it but I'm not sure what it's specifically used for.
6 answers
CryptoMaven
Sun Oct 20 2024
The LOOM token serves as the fundamental unit of the Loom Network platform, playing a pivotal role in maintaining its security and integrity.
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KpopHarmonySoulMate
Sun Oct 20 2024
This digital asset enables developers to harness the power of decentralized application (DApp) hosting by anchoring their creations to the Basechain, the mainnet of the Loom Network.
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KatanaBladed
Sat Oct 19 2024
The process involves bonding LOOM tokens to the network, effectively staking them as a commitment to the platform and its ecosystem.
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CryptoElite
Sat Oct 19 2024
For developers looking to deploy their DApps on Loom Network's DAppChains, this bonding mechanism ensures a secure and scalable environment tailored to their needs.
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Bianca
Sat Oct 19 2024
As part of the hosting agreement, developers are obligated to contribute a monthly fee in the form of LOOM tokens. This fee covers the operational costs associated with their DApps, ensuring a seamless user experience for end-users.
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