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What Is TomoChain (TOMO)?

Released in December 2018, TomoChain (TOMO) is a project that attempts to improve the scalability of the Ethereum ([ETH]) blockchain. This is primarily done via increasing its transactions per second (TPS) capacity.

The eventual goal of the project is to build a blockchain infrastructure for decentralized apps ([DApps]) and improve integration and security. TomoChain’s solution is to offer smart contract scalability, a task that requires solving how the blockchain can handle a higher number of transactions per second, exponentially increasing the utility of the smart contracts for real-world use cases and applications.

Who Are the Founders of TomoChain?

TomoChain was founded by Long Vuong, who is also the CEO of TomoChain Pte. Ltd.

Before that, he was the CEO of CityMe and a co-founder and project lead of the NEM ([XEM]) blockchain at Alternative Blockchain. He is an expert in the fields of blockchain and economics and has been an advisor to a number of blockchain projects in the past.

What Makes TomoChain Unique?

TomoChain has a range of unique features, such as its proof-of-authority consensus, the masternode system, 2-second confirmation, almost non-existent transaction fees, built-in exchange protocol, ICO smart contract templates, API support for token insurances and integrations and cross-chain transaction function without any fees between Ethereum and TomoChain.

The TomoChain mainnet was launched in 2018 and included proof-of-stake voting. The switch to masternodes made TOMO a mintable currency, and these masternodes participate in both creation and verification of the blocks. They are compensated for maintaining the network with minted TOMO.

If a user wants to become a masternode candidate, they need to deposit 50,000 TOMO. Masternodes are allowed to eventually resign, but the deposited TOMO remains locked for 1,296,000 blocks after the resignation had been issued. Once a user becomes a masternode candidate, they need to become one of the top 150 voted candidates. If chosen, they will receive TOMO rewards in proportion to the number of blocks they manage to sign.

As such, TomoChain provides a scalable blockchain that can be faster and has lower fees. TomoChain has a wide range of use cases.

TomoChain provides a general blockchain platform that allows for near-zero-fee and instant confirmation transactions, a proof-of-stake chain, staking as a voter and running a masternode.

It also offers the TomoZ or Zero Friction protocol that allows token holders to pay transaction fees in a token of their choice. Other services offered by TomoChain are Tomox and Relayers, which is a decentralized exchange protocol that allows businesses to make decentralized exchanges and landing platforms. TomoP is a privacy protocol that was developed on TomoChain to enable safe and untraceable transactions.

Related Pages:

Learn about [Badger DAO].

Learn about [Utrust].

Learn how to stake crypto in 2021 on [CMC Alexandria].

Learn more about cryptocurrencies on the [CoinMarketCap blog].

How Many TomoChain (TOMO) Coins Are There in Circulation?

TomoChain (TOMO)has a circulating supply of 80,540,663 tokens and no maximum supply data is available as of February 2021.

How Is the TomoChain Network Secured?

TomoChain has a proof-of-stake voting consensus, making it a scalable public blockchain where every Ethereum smart contract can be run with instant transaction confirmations. The Tomo application was one of the first apps built on the TomoChain and is a decentralized social media platform focused on knowledge sharing.