Loom Network (LOOM) Plans to Expand Beyond Gaming Into DeFi

via Loom Network

Loom Network (LOOM), a multichain ecosystem for games and social apps, released its 2020 roadmap on Thursday, detailing its plans to expand its focus to areas beyond gaming.

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 ‚ÄĒ 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:

Basechain top-level objectives for 2020 (Loom Network)

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.

More: Loom Network Roadmap 2020: Focus, Growth, and Speed
Recent: How to Stake Your LOOM and Help Secure Basechain

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.

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