The TomoChain blockchain enables the development of high-performance blockchain projects.
What Is TomoChain (TOMO)?
TomoChain is a public blockchain that utilizes a consensus algorithm known as Proof of Stake Voting (PoSV). TomoChain is designed to be a scalable and performant blockchain that supports instant confirmations and near-zero fees. The native currency of the TomoChain platform is TOMO, which is used to pay for transaction fees and reward validators.
In addition to PoSV, TomoChain employs a number of innovative features to create a fast, secure, and decentralized platform for digital assets.
Some of the key features of TomoChain include:
- A system of 150 Masternodes that can process up to 2000 transactions per second.
- An Atomic Cross-Shard Transfer Protocol that allows for cross-chain transfers without the need for a third party.
- A staking rewards program that incentivizes users to stake TOMO tokens and help secure the network.
- A series of Smart Contracts that support a variety of scenarios such as decentralized exchanges, loan services, and more.
How Does TomoChain Work?
TomoChain uses masternodes which participates in the verification of the new blocks. In order to become a masternode, you will be required to deposit 50 thousand TOMO tokens, then you need to become one of the top 150 voted candidates. If selected, they will be compensated in TOMO tokens for the number of blocks they manage to sign. This implementation of masternodes provides a scalable, faster and cost effective blockchain.
TomoChain also developed Tomox and Relayers, which is a decentralized exchange protocol allowing other businesses to create their own decentralized exchanges. Then you have the TomoP which is a privacy protocol developed for safe and untraceable transactions. And finally, TomoZ or Zero Friction protocol which allows token holders to conveniently pay transaction fees in a token of their choice.
The History Of TomoChain
Long Vuong is the CEO of TomoChain. He was previously the project leader of the successful NEM blockchain project. The second co-founder and CFO of the project is Le Ho. The overall team consists of 30 experienced people, and most of them live in Singapore.
The TomoChain mainnet was launched in March 2018.
Is TomoChain (TOMO) A Good Investment?
The project is still in its early stages, but if successful, it could have a major impact on the way we build high-performance, feature-rich blockchain projects..
As for the price of the TOMO token, the highest that it has ever reached is $3.76 back in September 2021, and then a few months later it dropped and is now sitting below $0.50, which makes you wonder if TOMO will see another all time high in the future.
To stay up to date with the current TOMO price data, click here.
Should You Buy TomoChain (TOMO)?
By owning TOMO, users are able to participate in the suite of products and services built within the TomoChain ecosystem.
If you have done research on the team, vision, whitepaper and you are satisfied with what TomoChain has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
How Many TomoChain (TOMO) Coins Are There in Circulation?
TomoChain has a total supply of 100 million TOMO coins.
Where Can You Buy TomoChain (TOMO) Coins?
If you would like to purchase some TOMO coins, below are a handful of cryptocurrency exchanges which list them.