What is TomoChain (TOMO)? Complete collection of virtual currency TOMO

By F | Coins & Tokens

tomochain (tomo)

TomoChain (TOMO) is one of Blockchain Vietnam projects which are very interested and supported by the community.

Founder and CEO of TomoChain (TOMO) is Mr. Long Vuong - the eldest brother of Crypto Dev Community in Vietnam.

Today I will find you about the coin of this project $ TOMO.

TomoChain (TOMO) is a Blockchain Platform (Blockchain platform).

The goal that dev team set is to build TomoChain (TOMO) to become a Public Blockchain integrated EVM (Ethereum Virtual Machine) with advantages such as low transaction fee, fast authentication time, high security.

TomoChain (TOMO) will be the Blockchain platform that allows building dApps decentralized applications with the above advantages.

What is the problem that TomoChain (TOMO) poses?

Blockchain is one of the important elements of the 4.0 technology era. However, some Blockchain platforms are currently facing some limitations.

The closest example is Bitcoin and Ethereum are 2 popular platforms, but the transaction speed is only 7-15 Transactions per second.

This number is too small compared to the current payment speed of Visa and Master Card at about 5,000 - 6,000 transactions per second.

The common problem that today's Blockchain platforms (especially Ethereum) face is:

  • The congestion problem in the Ethereum network.
  • High transaction fees.
  • Limited scalability.
  • The vast majority of other blockchains are still highly centralized, and difficult to interact with.

How will TomoChain (TOMO) solve these problems?

  • TomoChain (TOMO) currently has 150 Master Nodes with a Proof of Stake consensus mechanism Voting (POSV) helps extremely low transaction fees and Confirm 1 Transaction time of only 2 seconds.
  • Supports all Smart Contract, integrated protocol EVM and Atomic Cross-Chain. As a result, all Ethereum Smart Contracts can be easily switched to TomoChain.

In this article, I will focus on the Tomo Coin (TOMO), and the TomoChain project in general, Coin98 will spend a separate article for further analysis.

What is TOMO Coin?

TOMO is a coin running on TomoChain's Blockchain. TOMO Coin is an important component, motivating activity in TomoChain's network.

Prior to TomoChain's December 14, 12 Mainnet event, TOMO was a token running on Ethereum's ERC-2018 platform.

The Mainnet event marked TomoChain's dramatic transformation when it officially launched its own Blockchain, with 150 Master Nodes, TOMO officially becoming a coin running on its platform.

TOMO is the Native Currency within TomoChain's ecosystem (TOMO) to motivate users to contribute to the system.

At the same time, it is also used by third parties to use services on TomoChain's Ecosystem.

Basic information about TomoChain (TOMO)

  • Ticker: TOMO
  • Blockchain: TomoChain
  • Block time: 2s
  • Total Supply: 100,000,000 TOMO
  • Circulating Supply: 59,701,975 TOMO

Token Allocation

token allocation tomo

Token Sale

Updating ..

Token Distribution Plan

token distribution plan tomo

TomoChain (TOMO) rate for today

What is TomoChain's blockchain (TOMO)?

Proof of Stake Voting (PoSV) consensus mechanism

As mentioned at the beginning, TomoChain (TOMO) has its own consensus mechanism, they called it Proof of Stake Voting (PoSV). This is considered the heart of both TomoChain.

With POSV, TomoChain (TOMO) can integrate EVM (Ethereum Virtual Machine). As a result, Ethereum's smart contracts can run with transaction confirmation times almost instantly.

In this section, I will talk in more detail, because it is related to what TOMO is used for.

More details about the Proof of Stake Voting (PoSV) mechanism:

Applicants must own 50,000 TOMO in order to be eligible to become a Master Nodes.

However, these candidates also need to have the vote of other TOMO Holders to formally become Master Nodes.

These Master Nodes will be responsible for creating Blocks (Blocks) inside TomoChain.

Double Validation mechanism

With this mechanism, each Block created in TomoChain will be validated twice.

The first time is the sequential Confirm, the second is the other Masternode will confirm randomly.

This will enhance the security inside TomoChain's Blockchain network, reducing the attack rate on the system.

TomoChain is one of the Blockchain platforms that support Non-Fungible Token (NFT)

This can be considered as TomoChain's foresight for the future.

tomo highlights

Some other characteristics of TomoChain:

  • Time to close 1 Blockchain: 2 seconds.
  • Low transaction fees: only about 1/100 compared to Ethereum.

What is TomoChain (TOMO) used for?

  • Use TOMO to reward Reward for Master Nodes and Stakers.

As explained above, TomoChain (TOMO) has a consensus mechanism called PoSV.

Including the contributions of Master Nodes and Stakers who voted for Master Nodes.

These people contribute and validate transactions, block in Blockchain. TomoChain (TOMO) will reward these people in TOMO coins.

Chu ý: TomoChain (TOMO) currently has 150 Master Nodes worldwide. The selected Master Nodes will be sequentially selected to participate in the production of Blocks.

The total amount of TOMO reserved for reward is 17,000,000 TOMO and will be released in 8 years. After that period of time, rewards for Master Nodes will be taken from Transaction Fees.

Or the Master Nodes will have the right to decide to increase 0.5 - 1 million TOMO per year to use for eward purposes or not.

  • TOMO is used for Stake and reward.
  • TOMO is used by the dev team to build and develop the TomoChain ecosystem (TomoScan, TomoWallet, TomoMaster).
  • TOMO is used to pay prizes for Hackathon / sponsored competitions organized by TomoChain.
  • TOMO is used to raise capital for projects built on TomoChain's BlockChain platform.

As a Public Blockchain platform, TomoChain allows building dApps on its Blockchain.

These projects want to develop and raise capital can use TOMO Coin.

This is similar to the project ICO built on the Ethereum Blockchain, raising capital with ETH.

The first project to call ICO capital on TomoChain is Triip.me

TomoChain transaction fee (TOMO)

Currently, TomoChain (TOMO) officially officially Mainnet on 14/12/2018 and runs on its own Blockchain.

Transaction fees in TomoChain's Blockchain network (TOMO) are low. Estimated to be about 1/100 of the fee on Ethereum.

In addition, with TOMO Coin, when you trade on the exchange will be subject to additional transaction fees, withdrawal / deposit fees (if any).

Updated June 20, 6:
I have discussed with Mr. Nguyen Bui CMO of TomoChain to know more details about transaction fees on Tomo's website as follows.
Gas Price by TomoChain: 0.25GWei
Ethereum Gas Price: 10GWei (min 1GWei)
Current price TOMO $ 0.65 = 1/415 ETH price. Therefore fees on TomoChain range from 1/16000 to 1/1600 fees on Ethereum.

How to earn and own TomoChain (TOMO)

Some ways to earn and own TOMO Coin:

  • Buy directly on the exchanges: Kucoin, Hotbit, Gate.io ..
  • Become a Master Nodes, or Stakers to receive Rewards as TOMO Coin.
  • Participate in some Bounty, Airdrop programs of TomoChain to receive rewards.

How to dig TomoChain (TOMO)?

You cannot dig TOMO Coin station with excavators like BTC and ETH. Because TomoChain (TOMO) has a PoSV consensus mechanism.

However, as mentioned above, you can become Master Nodes, contribute to building blocks and receive Rewards (TOMO Coin).

Saw hosting TOMO Coin

You can store TOMO on the following types of wallets:

  • Saw Coin98 Wallet: This is the multi-chain wallet product of Coin98 Finance team. Allows to store most of the tokens of popular blockchains today such as Bitcoin, Ethereum (ERC-20, ..), Tron, Binance Chain (BEP2). So with TOMO tokens in the form of ERC-20, you can store them on Coin98 Wallet safely and conveniently.
  • Store directly on the wallets of exchanges that are supporting TOMO Coin: Kucoin, HotBit, Gate.io.
  • Hard wallets: Ledger Nano, Trezor ...
  • Soft wallet: Dappradar, Trust Wallet, MyEtherWallet.

TomoChain Exchange (TOMO)

Currently, TOMO Coin is mainly traded on several exchanges such as Kucoin, Hotbit

TOMO trading volume by each floor:

tomo volume exchange

Trading volume for each pair of Trading Pair:

volume trading pair tomo

The future of TomoChain (TOMO)

TOMO is the Native Currency in TomoChain's ecosystem.

After Mainnet (December 14, 12) TomoChain is focusing on developing its ecosystem including TomoScan, TomoWallet, TomoSwap, Tomo DEX.

Along with the expansion of the ecosystem, the demand for buying TOMO Coin will also increase in the future, many dApp projects build on TomoChain and raise capital in TOMO Coin.

In addition, NFT Token is also a direction that TomoChain is aiming.

Hopefully next time there will be many NFT development projects on TomoChain's platform.

Should you invest in TomoChain (TOMO)

Some of the key points I list here, for your reference before making investment decisions:

  • PoSV consensus mechanism, Master Nodes must Stake TOMO to be allowed to create Block. Reward the Master Nodes with TOMO from the reserve fund.
  • NFT Token development support.
  • Allows building dApps and issuing ICOs on TomoChain's platform.

summary

Above is the article about TomoChain, a Blockchain platform. Hopefully through this article, you will have a better overview of the TOMO coin.

I and the Coin98 team will regularly update the latest information about TomoChain as well as many other potential tokens / coins.

Please follow your next articles on Coin98.NET to not miss the useful information.

Hello and see you again in the next article!

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