What is TomoChain?
The TomoChain coin or TOMO is the official currency of TomoChain - an EVM-compatible blockchain with a set of unique products and protocols.
TOMO plays an important role in securing the network. TOMO holders can vote for a masternode by staking. This enables users to earn staking rewards if the masternode the holder voted on is chosen.
Users who want to become masternodes themselves must hold at least 50,000 TOMO coins to be considered.
TomoWallet is the only digital wallet that supports TOMO coins. This makes it a necessary tool for TOMO coin holders. Although, when the coin was initially launched, it was possible to store it on the majority of Ethereum-compatible wallets.
TOMO does not have a max cap. This makes TomoChain inflationary.
As with many other cryptocurrency projects, the TOMO price tends to fluctuate. In order to keep up with these fluctuations, check out the TomoChain price history on the graph above.
What are the Main Features of TomoChain?
TomoChain is a blockchain-based platform with a focus on bringing real-world value.
One of the primary goals of the project is to provide a type of highly scalable blockchain ecosystem that facilitates the development of decentralized applications (dApps).
TomoChain has already achieved scalability as it’s able to execute more than 2,000 transactions per second (TPS) and maintain a block time of 2 seconds. In addition to near-instantaneous transactions, TomoChain offers extremely low transaction fees.
All smart contracts built on TomoChain are EVM-compatible. Moreover, smart contracts built on Ethereum can be transferred onto TomoChain as well.
Some of the first projects built on TomoChain include Tomobowl, Maxbet, Tomo Building, and Tomo 3D
TomoChain operates using a Proof-of-Stake Voting consensus mechanism that’s powered by a network of 150 masternodes. This consensus mechanism is the sole reason why the TOMO coin is mintable.
As the project was initially built on Ethereum, it enables cross-chain atomic swaps.
There are 3 core protocols running on the TomoChain blockchain - TomoX, TomoZ, and TomoP. These protocols facilitate the development of dApps.
As discussed in the What is TomoChain section, TomoWallet is a crucial part of the TomoChain ecosystem. In addition to storing TOMO coins and ERC-20 tokens, TomoWallet facilitates the governance of TomoChain itself.
The mobile version of TomoWallet is available on the App Store and Google Play. Additionally, users can download it directly from the official website of the project.
Other products featured in the TomoChain ecosystem include TomoMaster, TomoScan, TomoBridge, TomoRelayer, LuaSwap, TomoIssuer, TomoStats, and TomoStatus.
Who Developed TomoChain?
The TomoChain crypto project was launched in late 2018. It’s a Singapore-based blockchain company co-founded by an entrepreneur duo - Long Vuong and Le Ho. In addition to offices in Singapore, some TomoChain team members are working from Japan and Vietnam.
Long Vuong is a tech entrepreneur with a background in economics and programming. TomoChain isn’t his first blockchain rodeo as he was part of the founding team at NEM. Besides his ventures in the crypto industry, Long Vuong was the CEO of CityMe before stepping down from the position in early 2017.
Currently, Long Vuong serves as the CEO of TomoChain.
The project wouldn't be the same without Le Ho who is a professional with over a decade of experience in the investment sector. She holds a bachelor’s degree in International Economics and a master’s degree in Economics. TomoChain is her first blockchain project where she currently takes up the position of CFO.
TomoChain has managed to sign partnership agreements with major players in the crypto sector including Chainlink, CoinGecko, and Ankr, among many others.
If you're interested in the project, make sure to check out the current TOMO price on the graph above.