Staked To Validate Loom Network Plasma Chain! How?


A New York-based startup company Staked, announced its partnership with BlockTower Capital. Basically, Staked helps institutional investors lend their holdings in PoS cryptocurrencies, to join the validator pool.

A blockchain ecosystem for games and social apps, Loom Network declared that

The LOOM holders can now become delegators and lend their tokens on the PlasmaChain. The Plasmachain normally refers to a high-performance DPoS sidechain that acts as a bridge between Ethereum and multiple chains.

Additionally, the startup provides a secure infrastructure necessary for staking. Currently, it supports six cryptocurrencies, Tezos, Dash, Decred, Livepeer, Factom, and EOS.

Staked partnering with Loom Network delegator pool is not surprising, as the startup firm also lists this network as a future addition to the service.

James Duffy, the co-founder of Loom, claim that

Our goal in bootstrapping the network is bringing on board a diverse set of competent and reliable partners as validators. Also, we’re super excited to have Staked and Blocktower be a part of that.

On the other hand, recently, the Loom Network also announced that it will accept Binance Coin (BNB) as a payment method.

According to Loom Network’s management, the BNB token will be accepted as a payment mode across multiple applications on its Plasma Chain platform.

Hence, to celebrate this partnership, the developers of the Loom Network provided various opportunities to users

What is your opinion on this partnership? Share your thoughts on our Twitter and Facebook pages.

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Back to top button