What Is TOMO Coin?
TOMO is the native cryptocurrency of TomoChain – the second generation blockchain-platform, sometimes called “Vietnamese Ethereum”.
TOMO Brief History
TomoChain founder and CEO is Long Vuong, a Vietnamese technologist and entrepreneur.
TomoChain was founded in 2017. Its ICO took place in March 2018. Although the crowdsale was pre-planned for a period of twenty days, it finished in three days, when the project met the hardcap of $8,500,000.
TOMO means “curiosity” in Vietnamese; “friends” in Japanese; it can also mean “tomorrow” in English.
After some period of intensive research and development, TomoChain mainnet was activated on December 14, 2018.
TomoChain Key Features
The idea behind TomoChain is to solve the Ethereum scalability problem. Currently, Ethereum can handle 15 transactions p. s. It is too little, compared with VISA that processes 20 000 transactions p. s. TomoChain has answered this challenge with a new unique technology which includes:
- Masternodes (required to lock up at least 50 000 TOMO coins) submit blocks and store the blockchain state. The masternodes are selected via a voting system with the help of TomoMaster dApp.
- Fast chain: block time equals two seconds; TomoChain can handle 2000 transactions p. s.
- TomoZ protocol that permits instant transaction confirmation and paying moderate transaction fees with the TRC-21 tokens converted to their equivalent in TOMO.
- TomoX protocol that empowers a multifarious system of decentralized exchanges and different projects to cooperate in a decentralized fashion. TomoX allows individual users with limited technical knowledge to launch DEXs at minimal operating costs. TomoX supports all TomoChain standards, TOMO native asset and TRC-21. It is assumed that in the future TomoX will be able to support other native tokens and leading cryptocurrencies like Bitcoin and Ethereum.
- TomoP private transfer protocol, which is in the development stage. It empowers private transactions on the TomoChain blockchain and allows the creation of anonymous transactions. TomoP relies on Pedersen commitments, Ring Confidential Transactions and bulletproofs.
What Are The Possibilities Of TOMO Coin?
TOMO was created as an ERC-20 token but later transitioned to the original token standard TRC-21.
TOMO can be used in the following ways:
- As the reserve cryptocurrency for all dApps on TomoChain.
- As the protocol token for the TomoChain infrastructure.
- As a mean of funding for the development of protocol’s ecosystem (TomoScan, TomoMaster, TomoWallet, etc.).
- As a reward to encourage building of the TomoChain ecosystem.
- As a governance tool of TomoChain network.
There is no such a thing as Tomochain mining, because unlike Bitcoin that uses the mining process to attain consensus, TomoChain uses staking to that end.
TomoChain token (TOMO) can be bought on several crypto trading platforms including Hotbit, Binance, Kucoin, Coinbase, Gate.io, BitForex.
The best TomoChain wallets are desktop and mobile Atomic Wallet, mobile and web TomoWallet, web MyEtherWallet, mobile Coinbase Wallet, Coinomi Wallet, Trust Wallet, Bread Wallet, hardware Ledger Nano S/X and Trezor Wallet, and browser extension MetaMask.
- Innovative solution of the scalability problem.
- Low-fee atomic cross-chain transactions.
- Auditability of financial transaction records.
- Decentralized governance.
- Fast transaction speed.
- Ability to help other projects create effective decentralized applications on TomoChain.
- Tomochain masternodes and service nodes systems with secure and immutable databases; they provide investors with a passive income and voting capacity.
- TomoChain CEO Long Vuong was the co-founder and the chief executive of NEM blockchain (New Economy Movement), one of the most successful crypto startups since Bitcoin's inception.
- TomoChain is an almost purely Southeast Asian project, with the main office based in Singapore, offices in Vietnam and Japan, and team members who come mainly from Singapore, China, Vietnam and Japan.
- Especially in Vietnam, the project actively cooperates with institutions, businesses, retail investors and even the government: for example, Vuong has been working with the Ministry of Justice on regulative issues.
Development And Future Plans
2019 was quite successful for TomoChain: it was the second project that earned the free listing on Binance; the project signed a deal with Chainlink for cooperation and integration; it appeared on NASDAQ and was covered by Forbes.
Currently, in 2020, TomoChain is working on a new look and going to launch TomoP testnet. It also cooperates with a subscription service Wisepass for paying with TOMO.
Where To Buy TOMO Crypto?
Today TomoChain price is 2.4836 USD. The best way to exchange your coins to TOMO is StealthEX. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in TOMO, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to TOMO.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your TOMO coins.