Cobo initiated Loop Network, joined with first eight members including F2Pool

The goal of Loop Network is to solve the problem of congestion and high fees in transactions on blockchain network, in a way which is similar to clear settlement between traditional financial institutions. It is like Bitcoin‘s Lightning Network and Liquid sidechain, both are designed to reduce congestion and high fees on main blockchain network. In the future, Loop Network will directly connect to Lightning Network and Liquid sidechain, and will greatly improve the scalability of main chains such as Bitcoin, reduce transaction costs and promote healthy development of the ecosystem.

The first eight Loop Network member companies include Cobo, Bibox, CITEX, CoinTiger, F2Pool, MXC, OceanEx and ZG.com. In addition, there are many blockchain companies such as mining pools, exchanges, market makers, lenders, wallets, and media that are highly interested in participating Loop Network.

Taking MXC, CITEX, and ZG.com users for example, if they try to make transactions within Loop Network, they can enter the corresponding Loop Network address, and the funds will arrive into the account in real time.

If users encounter a delay during the transaction , they can log in to Loop.top to check the latest transaction status. All transactions can be found on the website, which gives users a query experience similar to using a block explorer.