Tomochain (TOMO) is a project that is building an efficient Blockchain infrastructure for decentralized apps, token issuance, and integration. Tomochain is trying to provide innovative solutions to the scalability issues faced by Ethereum and other similar blockchains, besides that Tomochain is also aiming to solve interoperability issues.
Scalability is a major issue in current blockchain projects with even major projects like Ethereum having speeds of 15 transactions per second are way too slower than MasterCard and Visa who have 5000-6000 TPS. TomoChain is seeking to solve the scalability problem through sharding and a stake voting solution.
TomoChain relies on a system of 150 Masternodes with Proof of Stake Voting (POSV) consensus that can support near-zero fees and 2-second transaction confirmation times. The PoSV consensus enables TomoChain as an EVM-compatible and scalable public blockchain, on which every Ethereum smart contract can be effectively run with almost instant transaction confirmation. The mainnet with POSV Masternodes delivers 2000-5000 transactions per second. Once sharding is implemented, it is expected to do 20,000-30,000 TPS.
TOMO is the native cryptocurrency of TomoChain and will be the reserve cryptocurrency for all third-party apps running on TomoChain. As a protocol token of TomoChain infrastructure, TOMO will be needed by parties utilizing TomoChain to build apps or issues and integrate tokens into their apps.
In addition, TOMO is an integral part of the TomoChain network for a number of reasons, such as -to fund the development of TomoChain and its ecosystem.
-used as a reward to incentivize the building of the TomoChain engine/ecosystem. -used as a long-term, decentralized governance instrument of the TomoChain network.
The Tomocoin held its ICO in March 2018 which was successful in reaching its hardcap of $8.5M USD. It started as an ERC20 token and was successfully swapped 1:1 to mainnet TOMO tokens in Dec 2018. TOMO is traded in major exchanges such as Binance, Kucoin, and BitForex.
The Market Cap is $22M USD and the daily volume is $6M USD. The total and circulating supply of the coins is 100 million and 65 million respectively.
The TomoChain team consists of nearly 40 full-time working people and the main advisors include Roger Lim of NGC group and Thuc Vu founder and CEO of Kambria and Ohmnilabs.
The team is based in Singapore with offices in Japan and Vietnam. The founder and CEO Long Vuong is a well-known person with vast experience and a successful track record. He was also the co-founder of NEM, a top 20 project on Coinmarketcap.
TomoChain is working vigorously on building its ecosystem and has sealed many partnerships from all fields such as agriculture, robotics, gaming, IT solution providers, advertising, pharmaceutical tracking, education and research, payment, communication, name service, food traceability, tourism.
TomoChain has developed several unique products that help facilitate interactions between users (including voters and masternode owners) and the TomoChain blockchain:
-TomoScan: Shows all blocks, transactions, finality, smart contracts, D-Apps, and token information
-TomoMaster: Allows users to apply for a Masternode Candidate position; to vote for Masternodes and shows Masternode performance statistics
-TomoWallet: Securely store, send, receive TOMO and other tokens issued on TomoChain; Allows users to vote and track rewards
-TomoX: A secure and efficient relayer-master node decentralized exchange protocol
-TomoZ: is a TomoChain on-chain protocol that allows any token holders to transfer tokens without holding TOMO in their wallet. The transaction fees will be paid in the token the user is holding.
Apart from this, many DApps have been launched on TomoChain such as TomoBowl, Triip Protocol, Maxbet, Tomo3D etc.
TomoChain with its continuous development has impressed everyone so far, the team is solid and has a clear vision and direction, the token metrics are very strong which show the potential for further growth.
TomoChain’s main competitors are base layer blockchains like Ethereum, Neo, NEM, EOS, Cardano, Lisk etc. This could be a bit of a concern as everyone is competing in same field, but it is too early to focus on competition right now, as it is more important to expand the whole blockchain ecosystem rather than to compete with each other.
Once they implement sharding TomoChain will have an edge over others to be in the forefront of the blockchain revolution.