Friday, 24 May 2019

Binance Coin (BNB) to Be Accepted on Loom Network's Gaming Apps

Loom Network (LOOM), a blockchain-based ecosystem for developing online games and social media apps, has announced that it will be supporting Binance Coin (BNB) as a payment method.

According to Loom Network’s management, the BNB token will be accepted as payment across various applications on its PlasmaChain platform. This initiative has been launched through a partnership with Binance, the world’s largest crypto exchange in terms of trading volume.

As explained in the announcement, the additional support for payment with the BNB token will allow decentralized applications (dApps) built on the Loom Network to expand beyond the Ethereum (ETH) network and traditional payment methods (such as credit and debit cards).

"Integrating ERC-20 Based Payments On A Sidechain"

Commenting on the initiative, James Duffy, the co-founder and chief marketing officer (CMO) at Loom Network, remarked:

We’re excited to be pushing things forward not only technologically (by integrating ERC20-based payments on a sidechain), but also by injecting a bit more fun and lightheartedness into the space.

To celebrate the partnership with Binance, the developers of the Loom Network are offering a “limited time” opportunity to users that will allow them to purchase “collectible Binance-themed Zombie Battleground (ZB) card packs, and get a chance to win $10,000 in BNB prizes.” Additionally, eligible account holders will be give an “ultra-rare ‘Funds are SAFU’ trading card.”

Notably, one of the exclusive cards that will be available in the promotion features “CZ”, or Changpeng Zhao, the founder and CEO of Binance.

"Truly Owning" Game Cards On A Blockchain

As described by Loom Network’s developers, the Zombie Battleground is a “strategic, adrenaline-pumping, loot-filled trading card game that runs 100% on the blockchain.” Because it’s built on a decentralized network, each player can “truly own [their] cards forever, and [they] can trade them with other players on a massive (peer-to-peer) P2P marketplace — or sell them for [their] crypto of choice.”

As noted on Loom’s official site, players will also be able to use their cards to “play in dozens of user-created custom game modes, and compete in tournaments with big crypto prize pools.”

According to its developers, the Loom Network is a second-layer “scaling solution for Ethereum that is live in production.” The Loom Network has been developed on several delegated proof-of-stake (DPoS)-based sidechains, which is a design feature that aims to “allow for highly-scalable games and user-facing dApps.” In order to maximize security on the Loom Network, the platform’s architects periodically back up Loom Network data to the Ethereum blockchain.


source: cryptoglobe.com 
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