What is the Loom Network project:
The Loom Network project develops side chains for blockchain projects. These side chains are small chains connected to the main blockchain network.
The Loom project serves as a platform through which developers can create their own blockchain networks, with the ability to customize sidechains to tweak security, decentralization, and scalability requirements rather than relying on key features of the parent blockchain.
The project is built on the Ethereum network and on the “Layer 2” scale and does not depend on any change in the basic Ethereum protocol, but instead focuses on providing an environment for building fast applications that rely on Layer 2 solutions and rely on the proof-of-stake protocol to authenticate transactions.
Loom has developed several types of sidechains such as PlasmaChain, DAppChains, GameChain, and SocialChain.