TomoChain Price Today TOMO Price Chart & Market Cap

what is tomocoin

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. This is when things will come together and investors will be excited. You need an account in order to star coins, keep track of your portfolio, set up alerts, vote on coins as well as use all the other advanced features.

The vision for Tomochain is to add a nee network of chains that can support instant transactions and charge minimal transaction fees. According to the ICO this sort of technology would pay dividends for decentralized apps, token issuances, and token integrations for businesses of all sizes. TomoChain is seeking to solve the scalability problem through sharding and a stake voting solution. That has led to a Tomo blockchain that provides up to 5,000 transactions per second, 2 second transaction times, and low transaction fees for users. Once sharding is achieved the development team claims TomoChain can reach 20,000 to 30,000 transactions per second.

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TomoChain 1.0 uses Proof of Authority nodes to make sure the database is secure and immutable. TomoCoin builds blockchain infrastructure for decentralized applications, token issuance and integration. Scalability is a one of the biggest issues preventing mainstream use of cryptocurrency and Tomocoin aims to address it through a platform that is actually a series of platforms rolled into one.

what is tomocoin

TomoChain also includes a 150-Masternode architecture with a Proof of Stake Voting (POSV) consensus for almost zero-fee, instant transactions. LuaSwap is the largest DeX on TomoChain and is based on the TomoX protocol. Scalability covers a number of related issues which include network congestion, long wait time for transaction validation, and the high transaction fees that come along with these issues. Interoperability refers to the ability for Ethereum to link with other blockchains to provide cross chain interaction.

Why are TOMO tokens valuable?

TomoChain released its mainnet back in December 2018 and it came with a large number of changes. The changes included the move to an independent chain, the addition of masternodes and the addition of Proof-of-Stake Voting (POSV). All content on CaptainAltcoin is provided solely for informational purposes. It is not an offer to buy or sell any security, product, service or investment. Long Vuong, Founder & CEO – Also operates as TomoChain’s

Project Lead, Vuong is the co-founder and the former project lead of the NEM

blockchain (New Economy Movement). From “killers” to “second layer solutions looking to support it”, the evolution of the Ethereum imitators/innovators market has been an interesting thing to behold.

  • TomoChain markets itself as an “innovative solution” to the

    problem of scalability that troubled Ethereum ever since its inception.

  • Only time will tell which one of these projects will bring us the scalable, efficient, cheap, and user friendly blockchain of the future that everyone is looking forward to.
  • Managing your DeX is a breeze with TomoRelayer’s easy-to-use app interface.
  • At their most basic level, they are nothing more than servers contributing computing power to the network to sign blocks.
  • This goes counter to the popular Proof-of-Work consensus mechanism, which rewards those who have the most raw computing power, leading to centralized mining cartels and monopolies.

The development is currently ongoing as the ICO prepares to begin its token sale. Later this year they will address token integration and officially release both the Tomoapp and the Tomochain. Some of their undated future goals include building infrastructure and community, along with decentralized governance. Its refreshing to see such an amazing project at ICO which already has a testnet, beta wallet and app, whilst not asking for a large amount of investment.

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The Tomowallet would focus on ensuring security while being able to send and receive tokens and messages. Additionally, it would provide APIs that can be used by third party apps. TomoChain is the blockchain solution for TomoApp and other mainstream applications which require low fee and instant high speed transactions and is built on Geth.

The Tomoapp would provide a contributor’s network and would allow data mining through contributing. The app would give user’s complete privacy for their transactions, and there would be no fees for micro payments. Contributors of content or knowledge would be rewarded using Tomocoin while building a unique social network.

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However, a big cloud that hangs over the shorter-term future of the project is Ethereum’s upgrade to a PoS platform. With Ethereum achieving far higher speeds, compared to TomoChain, what is tomocoin after the upgrade TomoChain’s key market advantages may simply dissipate. The TRC21 standard allows you to create TomoChain-based tokens that have cross-chain interoperability.

what is tomocoin

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