What is TomoChain? Tomochain is a Layer1 blockchain that uses a consensus mechanism Proof-of-Staking Voting (PoSV) allows developers to build applications with high performance coupled with security and high compatibility with EVM. So what’s special about Tomochain? Let’s find out through this article.
To have a clearer view of the project, people can refer to some of the articles below:
- What is EVM? EVM Highlights
- What is NEAR Protocol (NEAR)? Near Protocol Cryptocurrency Overview
- What is Blockchain Layer 1? The Importance of Layer 1 in the Crypto Market
Overview of TomoChain
What is TomoChain?
Tomochain is a Layer1 Blockchain that uses a consensus mechanism Proof of Staking Voting (PoSV) allows developers to build applications with low transaction fees, fast confirmation times, guaranteed security, and high compatibility with EVM.
TomoChain has achieved a transaction processing speed of 2000 transactions per second, a block confirmation time of 2 seconds, with almost $0 transaction fees along with decentralization.
Highlights of TomoChain
PoSV forward kinetic mechanism
TomoChain is a leader in introducing consensus mechanisms Proof-of-Staking Voting (PoSV), this is an improved mechanism from Proof-of-Stake. With this consensus mechanism, TomoChain has brought impressive parameters in improving network performance.
- At least 2000 transactions are processed per second while ensuring security through Double Validation
- It only takes 2 seconds to create a block and validate transactions within 4 seconds.
Double Validation provides an additional layer of trust that further enhances the security of Tomochain’s lazy network, reducing the risk of attacks within the network.
Masternode
In TomoChain’s network, there are a total of 150 Masternodes operating and ensuring the safety of the entire system. The necessary condition to become a Masternode is that the user needs to lock at least 50,000 TOMO along with basic hardware parameters of the computer.
In addition, the sufficient condition is that they must also become the 150 most nominated Masternodes on TomoMaster. This also helps the Tomochain network become more decentralized, avoiding problems such as group interests and this is a necessity of every blockchain.
Development Roadmap
Update…
Investor
Coin98 invests in TomoChain
TomoChain has received investment from famous funds in the Crypto market such as: NeoFoundation, Hashed, Connect Capital, One Block Capital, Coefficient Ventures, Hyper chain Capital, Signum Capital….
Most recently in 2023, TomoChain received a strategic investment from another Vietnamese unicorn project, Coin98.
Core Team
Behind TomoChain is a team with extensive experience in both traditional and blockchain markets.
Long Vuong: CEO
- He became a PhD in economics at Massachusetts Amherst in 2014. Before that, he was a lecturer in economics for 4 years from June 2009 to June 2013, also at Massachusetts Amherst.
- He then continued to hold many positions such as product development team leader at NEM Blockchain, CEO at CityMe.
- In December 2016, he founded TomoChain Lab, and he also developed as CEO.
- January 2021 He became CEO at Solscan
Son Nguyen: CTO
- He earned an engineering degree in electricity and electronics from Hanoi University of Technology in 2008. In 2013, he continued to receive a doctorate in electricity and electronics at Hanoi University of Technology.
- In the past, he held many positions such as Web Team Leader at Sigma Solutions, he also founded Koor.IO, Technical Director at TomoApp and then became CTO at TomoChain.
- September 2021 He holds the position of Co-Founder and Advisor at AMAKUNI-The Metaverse
Le Ho: CFO
- She achieved CFA level 3 certification in 2011. Previously she received a master’s degree in social sciences (Master of Arts) at ISS of Erasmus University Rotterdam
- Her career progressed through jobs such as Investment Manager and Senior Manager at BIDV. Director Investment at HSC.
- In December 2016, she and her colleagues founded TomoChain and she holds the position of CFO until now. She is also currently on the board of directors at Solscan
Tokenomics
General information about TOMO token
- Token name: TomoChain
- Code: TOMO
- Blockchain: TomoChain
- Token classification: Native & ERC-20
- Contract: ERC-20:0x05d3606d5c81eb9b7b18530995ec9b29da05faba
- Total supply: 100,000,000
Token Allocation
The total supply will be a fixed $100,000,000 TOMO for the first 8 years. After 8 years TomoChain will plan to pay transaction fees to Masternodes or the Masternode council will decide to increase the supply to 0.5-1 million TOMO per year as a reward (equivalent to an inflation rate of 0.5%-1% per year). year) $17,000,000 TOMO will be used as rewards to pay Masternodes with the following schedule:
- Year 1 and year 2: each year there will be $4,000,000 TOMO distributed
- Years 3, 4, 5: $2,000,000 TOMO per year
- Years 6, 7, 8: $1,000,000 TOMO per year
Token Allocation TomoChain
- TomoMasterDAO Team: 21.00%
- Governance Treasury: 50.00%
- Public Sale (IDO): 4.00%
- Airdrop: 12.00%
- Liquidity Pair Creation: 4.00%
- Initial Farming Rewards: 4.00%
- Active Voters: 3.00%
- Future Farming Rewards: 2.00%
Token Release
Token Release TomoChain
Token Use Case
TOMO is used for the following purposes:
- Used as a reward for Masternodes
- As transaction fees in the network
- Vote to find quality Masternodes
Exchanges
Currently, people can buy TOMO tokens on CEX exchanges such as Binance, Bitger, Pionex…
TomoChain’s Information Channel
- Twitter: https://twitter.com/BuildOnViction
- Website: https://viction.xyz/
- Telegram:
Summary
TomoChain is one of the Layer1 blockchains with fast transaction speed, high security, compatible with EVM and improved PoSV consensus mechanism, promising to be a potential place for developers and investment opportunities. for investors. Hopefully through the article, everyone has received the necessary information about the project. HakResearch’s team will continuously update the latest information about the project to everyone.
