What is TomoChain (TOMO Coin)? All About TOMO Token Cryptocurrency

The Cryptocurrency Market is witnessing a global boom in the development of Smart Contract application systems. The presence of TomoChain marks one of the key milestones in the technological transformation worldwide. So, what is TOMO Coin? How does TomoChain identify and solve problems? What is the future potential of this project? Let’s dive into the details in today’s article.

1. OVERVIEW OF THE TOMOCHAIN PROJECT (TOMO COIN?)

TomoChain is known as a Blockchain Platform developed with the goal of becoming a public blockchain that integrates the Ethereum Virtual Machine (EVM), offering high transaction speed, low transaction fees, and strong security.

In addition, the project serves as a blockchain platform that enables the development of decentralized applications (dApps) with the aforementioned advantages.

1.1. The Issues Addressed and TomoChain’s Solutions

What problems does the project aim to solve?

Blockchain is considered one of the key pillars of the 4.0 technology revolution. However, many blockchain platforms today still face significant limitations.

In fact, Ethereum and Bitcoin are the two most widely used platforms, yet their transaction speeds range only from 7 to 15 transactions per second (TPS). This number is far too low compared to traditional payment systems like MasterCard and Visa, which handle about 5,000–6,000 TPS.

Thus, it is evident that the common issues facing most current blockchain platforms (especially Ethereum) include:

• Network congestion on the Ethereum network
• Limited scalability, which hinders the growth of blockchain platforms
• High transaction fees
• High centralization in other blockchain platforms, making it difficult for them to interact with Ethereum’s ecosystem

What is TomoChain’s solution?

TomoChain addresses the above issues by:

The project currently operates with 150 Master Nodes, using a POSV (Proof of Stake Voting) consensus mechanism. This helps reduce transaction fees and enables a transaction confirmation time of just 2 seconds. When a block is created on TomoChain, it undergoes two rounds of validation:

• The project has 150 Master Nodes with POSV (Proof of Stake Voting) consensus mechanism to reduce transaction costs and the time to validate a Transaction takes only 2 seconds. When a Block is created on TomoChain, it needs to go through 2 validations. The first is sequential validation on the network and the second is validation from Master Nodes. Thus, through this mechanism, the TomoChain network will be upgraded in terms of security.
• Through this mechanism, the security of the TomoChain network is significantly enhanced. TomoChain also supports smart contracts, EVM integration, and Atomic Cross-Chain protocols. As a result, all Ethereum smart contracts can be seamlessly migrated to TomoChain.

It is evident that TomoChain has addressed the limitations present in the Ethereum Blockchain. This offers users a new experience with extremely low transaction costs (only 1/100 of Ethereum’s fees) and lightning-fast processing speed.

1.2. What are the key features of the TomoChain Project?

TomoChain has been highly rated by industry experts thanks to the following standout features:

• POSV (Proof of Stake Voting) Consensus Mechanism: POSV allows TomoChain to integrate with the EVM, enabling Ethereum smart contracts to run with near-instant confirmation times.
• NFT Support: TomoChain is among the platforms that support NFT transactions, opening the door for further development in the digital asset space.
• Double Validation Mechanism: This unique algorithm enables two-layer validation of each block. It enhances network security and minimizes the risk of cyberattacks.

2. DETAILED INFORMATION ABOUT TOMO COIN FOR INVESTORS

TOMO is the native coin running on the TomoChain blockchain. It plays a crucial role in powering and incentivizing operations within the TomoChain network.

2.1. Basic Information about TOMO Coin

• Ticker: TOMO
• Blockchain: TomoChain
• Token Type: Native token
• Block Time: 2 seconds
• Total Supply: 100,000,000 TOMO

2.2. TOMO Token Allocation

With a total supply of 100 million TOMO coins, the allocation is as follows:

• Token Sale: 55%
• Team: 12%
• Strategic Partners & Ecosystem Building Fund: 16%
• Block Rewards: 17%

2.3. Use Cases and How to Own TOMO Coin

TOMO Coin serves several key purposes within the TomoChain ecosystem:

• Ecosystem Development:
  TOMO coins are used by the development team to expand and enhance the TomoChain ecosystem.

• Staking & Rewards:
  TOMO tokens are used for staking and earning rewards within the network.

• Incentives & Competitions:
  TOMO coins are awarded as prizes in hackathons and other competitions sponsored or organized by TomoChain.

• Fundraising for Projects:
  TOMO is also utilized as a fundraising currency for projects built on the TomoChain blockchain.

How can investors own TOMO Tokens?
You can acquire TOMO coins through the following methods:

• Purchase directly from exchanges that list TOMO, such as Binance, KuCoin, FTX, Gate.io, etc.

• Participate in TomoChain’s Airdrop or Bounty campaigns to earn free rewards.

• Become a Master Node or Staker to receive TOMO tokens as rewards for supporting the network.

2.4. TOMO Coin Release Schedule & Roadmap

TOMO Coin Release Schedule

The release plan for TOMO Coin is illustrated in the table below:

TOMO Roadmap 2022

This is one of the top concerns for investors who are holding or planning to acquire TOMO Coin. However, at present, the official development roadmap of the project has not yet been publicly disclosed.

Finance Solutes will continuously update this section to bring you the latest information as soon as it’s available.

3. TOMO WALLET STORAGE OPTIONS

Investors can store TOMO coins using the following wallet types:

• Directly on exchanges that support TOMO tokens such as Binance, Gate.io, KuCoin, FTX, etc.
• Hot wallets: MetaMask, MyEtherWallet, TrustWallet, etc.
• Cold wallets: Trezor, Ledger Nano, etc.

Additionally, you can also choose to use the official wallet developed by TomoChain [HERE]. 

4. TOMOCHAIN DEVELOPMENT TEAM, INVESTORS, AND PARTNERS

In this section, let’s dive into who is behind the TomoChain project—including the development team, key investors, and strategic partners.

TomoChain is headquartered in Hanoi, Vietnam, and was founded by two talented Vietnamese founders: Long Vuong & Son Nguyen.

4.1. TomoChain Development Team

The project team includes several prominent members such as:

• Long Vuong (CEO): Co-founder and project lead of NEM Blockchain. He has also served as an advisor for major projects, most notably Serum (SRM).
• Le Ho (Chief Financial Officer): Former Deputy Director in charge of Investment & Portfolio Management at BVIM, and ex-Head of Corporate Finance Advisory at HSC Securities Company. She holds a CFA certification and has over 10 years of experience in finance and investment.
• Son Nguyen (Chief Technology Officer): Co-founder of the Blockchain Developer community, which has over 800 members specializing in new technology applications.
• Tung Hoang (Project Manager): A seasoned Fullstack and Smart Contract developer, also serving as the Product Development Director at TomoWallet.
• Nguyen Bui (Marketing Director): Holds 12 years of experience in Marketing and Finance. Previously, he was a Business Leader at Infinity Blockchain Labs.
• … 

4.2. TomoChain’s Advisory Board

• Willis Wee (Founder and CEO of Tech in Asia YC W15):
  An entrepreneur from a very young age, Willis is deeply interested in topics related to business growth such as team building, organizational culture, and product/service management.
• Roger Lim (Managing Director at NEO Global Capital):
  Chairman of Qlink and advisor to projects like SelfKey, The Key, CoinFi, Bluzelle, Fortuna Capital, and Jet8. In addition, Roger is a successful entrepreneur who founded and developed WebVision – a well-known cloud computing platform.
• Thuc Vu (CEO of Kambria and OhmniLabs):
  Former founder of Katango and Tappy, both of which were acquired by Google and Weeby.co respectively.

5. FREQUENTLY ASKED QUESTIONS ABOUT THE TOMOCHAIN PROJECT AND ITS COIN

Below is a compilation of some of the most frequently asked questions about the TomoChain project and its Coin.

5.1. Where can investors get the latest updates about the project?

You can stay updated and follow the latest information about this project through the following communication channels:

• Official Website: https://tomochain.com/
• Whitepaper: https://tomochain.com/docs/technical-whitepaper–1.0.pdf
• Transaction Checker: https://scan.tomochain.com/
• Bitcoin Talk: https://bitcointalk.org/index.php?topic=2021785.0
• Telegram: https://t.me/tomochain
• Twitter: https://twitter.com/TomoChainANN
• Facebook: https://www.facebook.com/tomochainofficial
• Reddit: https://www.reddit.com/r/Tomochain/
• LinkedIn: https://www.linkedin.com/company/tomochain/
• Blog: https://medium.com/tomochain
• Source Code: https://github.com/tomochain/

5.2. On which exchanges can I buy and sell TOMO Coin?

This Coin is currently listed on most major exchanges worldwide. Therefore, traders can buy and sell TOMO Token through reputable brokers, including Binance, Hotbit, Kucoin, FTX, Gate.io, and more.

5.3. How to evaluate the potential of TOMO Token?

Follow the price fluctuations of TOMO Crypto Coin in the chart below:

Through the information provided by Finance Solutes, it’s clear that TomoChain is a highly promising platform for the future, thanks to its outstanding advantages—especially in the realm of Blockchain technology.

However, like with any project, investors should always conduct thorough research and due diligence before making any final investment decisions. The cryptocurrency market carries inherent risks, and it’s entirely possible to lose everything overnight. Therefore, be sure to study the project carefully before getting involved in trading!

6. SUMMARY

In today’s article, we’ve introduced you to what TOMO Coin is, the challenges it aims to solve, and the development potential of the TomoChain project in the near future. We hope that the insights shared by TradaFX have given you a comprehensive and accurate overview of this project.