Loom Network (LOOM) Plans to Expand Beyond Gaming Into DeFi
Loom Network Roadmap 2020 🛸
2020 will be all about narrowing in and focusing on what matters most. We’ll be reaching new markets, keeping competitors at bay, and driving forward at breakneck speeds.
Buckle up, buckaroos!https://t.co/woO6lFVzB4
— Loom Network (@loomnetwork) November 14, 2019
According to the blog post, Loom Network projects it will see a 10x improvement in speed and reliability in 2020, due in part to the project’s implementation of sharding and Wasm as key building blocks. Additionally, the team plans to begin executing on a larger vision for Basechain, with a focus on decentralized finance, government and enterprise applications.
“2020 is the year of maturity for Loom Network — focusing on what matters most, as well as growing our customer base and users,” stated the Loom Network team. “We will reach new markets in DeFi, government, and enterprise. Of course, we will keep supporting the many games and social apps that continue to launch on the network.”
Apart from the planned expansion, Loom Network hopes to see the percentage of LOOM staked with validators increase from 20% to 50% moving forward. The project notes this will be a primary focus as it benefits the network and helps secure Basechain.
Here are the other main objectives for Basechain in the new year:
Additional plans include integrating TRON (TRX), EOS (EOS) and Cosmos (ATOM) into Basechain, as well as every other popular blockchain, and bringing native LOOM staking to a variety of popular wallets like Trezor and Trust Wallet.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.