As the blockchain industry is being built rapidly around the globe, TomoChain is a leading part by seamlessly merging an ecosystem of applications with cryptocurrencies used by millions of mainstream users. These cryptocurrencies can be used with a unique blockchain infrastructure architecture allowing for a fast, secure, frictionless payment and trusted store of value.
TomoChain is an innovative solution to the scalability problem found in most blockchain platforms and developments. It is designed to support compatible smart contracts, protocols, and atomic cross-chain token transfers. It is an ideal scalable smart-contract public blockchain for decentralized apps, token issuances, and token integrations for small and big businesses.
TomoChain tackles several bottlenecks affecting blockchain platforms like the issue of efficiency. Due to low efficiency, major cryptocurrencies platforms do not scale effectively to handle a large transaction volume and this small throughput severely hinders the widespread adoption of such cryptocurrencies.
The blockchain solution also addresses the issue of confirmation times. Originally, the 10 minutes Bitcoin block-time is significantly larger than network latency and a Bitcoin block requires 5 subsequent blocks following it so that it can be confirmed; thus it takes on average one hour for a transaction to be confirmed. These long confirmation times hinder many important applications, especially smart contract applications.
It also provides solutions to the problem of fork chain consumes computational energy, time, and creates potential vulnerabilities for different types of attacks. TomoChain’s persistent and ultimate goal of research proposes a solution to the above problem using several key strategies.
One of the key strategies is the use of double Validation to strengthen security and reduce fork. Also, the randomization to guarantee the fair and prevent handshaking attack and the fast confirmation time and efficient checkpoints for finality or rebase enforce a permanent solution to these problems.
TomoChain blockchain is developed and maintained by a set of masternodes consistently through the TomoChain consensus protocol. Its new scaling techniques such as sharding, EVM parallelization, private-chain generation, and hardware integration will be continuously researched and incorporated into TomoChain’s Masternode architecture.
The Proof-of-Stake Voting (PoSV) consensus is a Proof-of-Stake (PoS)-based blockchain protocol with a fair voting mechanism, rigorous security guarantees, and fast finality. With this mechanism, the blockchain has a low probability of forks, fast confirmation times, plus the contributions and benefits of masternodes are fair in the sense that the probability distribution function is uniform eventually.
TOMO is the name of the official token of the TomoChain platform and helps to run the network by providing a standard value for the chain. It acts as a requirement for participating in the network and will also be the key factor of voting in the future, making it extremely valuable. It was initially created as an ERC-20 token but later changed to a 1:1 basis token in December 2018.
Who are the founders of TomoChain (TOMO)?
Long Vuong is CEO and Founder of TomoChain, He is a blockchain guru and economics expert. He has a 10-year background in the business field, with 2 years of undergrads in Holland and 8 years of Ph.D. in the U.S.
Long has advised several blockchain projects all around the world and contributed to affirming this technology value by developing practical products. Currently, at TomoChain.
What is TomoChain (TOMO) used for?
Building DApps (Decentralized Applications)
The TomoChain platform can be used to build decentralized applications and other features that facilitate transactions on the DApps.
The inbuilt governance DApp called TomoMaster allows users to vote on the masternodes.
TomoChain allows its users to stake their TOMO tokens for rewards. They pay out staking rewards approximately every 30 minutes, meaning you do not have to wait for months to receive income from your investment. There are also two main ways to stake your TOMO: one on mobile and one on desktop. The process involves holding tokens in a staking-compatible wallet and activating the process so you can receive a regular reward.
What is the unique point of TomoChain (TOMO)?
One of the unique points of the TomoChain platform is the Masternodes. These masternodes are full nodes that hold TOMO and for a coin-holder to become a master node, two requirements must be satisfied: The coin-holder must hold at least a minimum required amount of coin and must also be one of the most voted masternode candidates in the system.
It is worth noting that, TomoChain does not have miners as in the current Proof-of-Work-based blockchain systems such as Bitcoin and Ethereum. This goes counter to the popular Proof-of-Work consensus mechanism that rewards those who have the rawest computing power or machinery. Its decentralized nature allows everyone to benefit from and not just those who can afford high-tech computers.
Unlike in the PoW system, miners invest in hardware and are separate from the network, the TomoChain network uses the masternodes. Also, they have collaborated with other companies like Axie, Binance, Terra, and JCT to strengthen their position.
How many TOMO coins are in circulation?
There are 69,266,750 TOMO in circulation and a max supply of 100,000,000 TOMO.
How is TomoChain (TOMO) secured?
The TomoChain ecosystem is secured by the TomoChain Masternode network. It uses a Proof-of-Stake Voting consensus algorithm that allows for a decentralized and cost-effective transactional system for developers to create innovative, scalable applications with minimal cost.
How do I buy TomoChain (TOMO)?
TOMO tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy TOMO through your trading account.
Which Cryptocurrency Wallet Supports TomoChain (TOMO)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as TomoChain (TOMO). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies.
Additionally, users can easily use PTPWallet as their TOMO wallet because it offers a simple TOMO interactive interface making it easy for people to navigate its system.