what is tomocoin

Yet, one of the best rules of thumb that I use is to look at their public code repositories. This can give you a direct indication of code commits and hence https://www.tokenexus.com/hitbtc-review/ development. Nothing speaks volumes more about the state of a project like the amount of work that they are doing on their protocol and technology.

  • It needs to further develop proficiency and their extraordinary PoS voting feature which makes them unique.
  • There are a number of requirements that go into running a TomoChain masternode.
  • Very straightforward and honest comparisons, what I would’ve liked to see here how TomoChain has a competitive advantage of these projects.
  • The top 150 nodes are selected based on the vote results, and are responsible for block verification during an epoch, a time period of 30 minutes.
  • The TomoChain network evolves quickly, and moves fast and fluid, just like the blockchain itself.

The project has a lot of potential and more room for growth and will they reach newer heights is up to their ability to continuously find real-world use for their ecosystem and token. With all that being said, remember that the crypto world can be extremely volatile so it is no large surprise that experts are divided on the future of the platform. If you want to invest in TomoChain, make sure you only invest an amount you are willing to risk. 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. It has a market cap of around $37 million, with a daily trade volume of just below $1 million and a circulating supply of 59,461,225 TOMO, at the moment of writing. TomoChain is usually paired with ETH and BTC in trading and is currently available on exchanges like Hotbit, KuCoin, Vinex, Gate.io, DDEX and Dex.top.

Is TomoChain a good investment?

Other products like TomoScan, TomoMaster, TomoChain and

TomoX DEX server are being actively worked on and should see updates released

somewhere around the time of writing. Probably the biggest name that you’ll find on TomoChain’s list of investors is the one of NEO, the so called “Chinese Ethereum”. Tu Nguyen, Blockchain Lead Engineer – Seasoned Blockchain

and Cloud Computing engineering expert. Authorized Developer of Apache Software

Foundation, Cloud Native Computing Foundation. Lead engineer of multiple cloud

computing open-source softwares (kubeless, kubeapps, kompose, kubewatch). This website is using a security service to protect itself from online attacks.

  • Once confirmed, masternodes will create blocks in a round robin/double validation powered consensus model.
  • Low hard cap combined with an already working testnet with a solid team is a great combination — looking very good.
  • Second layer blockchains is the idea behind this using horizontal scaling, which will be intergrated with Ethereum network for backup and atomic cross-chain transfer.
  • TomoCoin’s role is still unknown, except that they aim to make it the most valuable and important digital assets for millions of people.
  • Their votes are credited through a Voting dApp; the user is listed in the app after depositing tokens.
  • OmiseGo concluded its Initial Coin Offering(ICO) recently, and the current market capitalization is around US$1.4 billion.

OmiseGo concluded its Initial Coin Offering(ICO) recently, and the current market capitalization is around US$1.4 billion. TomoChain and TomoCoin aim to integrate a social blockchain-based ecosystem with cryptographic tokens to facilitate decentralized storing of value. We have mentioned that TomoChain has low transaction fees but to check the whole fee what is tomocoin structure click here. If you want to use the TOMO tokens for short-term profits by trading them on any of the exchanges which support them expect a trading fee in the range of 0.1 to 0.2%. The withdrawal fee on these exchanges also varies from 0.01 to 1.3 TOMO. The fastest way to get your hands on some TOMO tokens is to use the peer-to-peer exchange.

About TomoChain Masternodes

And finally, it will be use for native payment method within Tomo application and other third-party services. Next to serve as the Internet of Value, TomoChain will also try and solve the scalability problem of Ethereum. All of this with instant confirmation, near zero transaction fees and smart contracts? Even more ambitious, curious to keep on reading and see if they have have a working product already. TomoChain is based on the Ethereum codebase and supports all EVM-compatible smart-contracts, protocols, and atomic cross-chain token transfers. The team also aims to incorporate sharding, EVM parallelization, and private-chain generation.

  • Steve has been writing for the financial markets for the past 7 years and during that time has developed a growing passion for cryptocurrencies.
  • That recovery has also come without TOMO being listed on any of the top exchanges other than KuCoin.
  • It features transaction speeds that are considerably faster than Ethereum’s, and are roughly comparable to those on Tron (TRX), a blockchain well-known for its fast speed.
  • You should do some research on your own on TomoChain before making your final decision if this is something you want to get yourself into or not.
  • A minimum of 1 million USD worth of token will be sold to public contributors in a later date.

She was previously Senior Investment Manager at BVIM and a former Director of the Investment Banking Division at HSC securities company. And after the first two years, the stakeholders can also receive block rewards if the masternode they voted for wins and becomes a validating node. In comparison with Ethereum, the TOMO fees are just 1% of those charged for Ethereum transactions, and the TomoChain has 2-second transactions versus 15-second transactions for Ethereum. Besides attempting to solve the known scalability issues with the Ethereum blockchain, TomoChain is also aiming to solve interoperability issues as well.

TomoChain Token Sale

It features transaction speeds that are considerably faster than Ethereum’s, and are roughly comparable to those on Tron (TRX), a blockchain well-known for its fast speed. In the PoW system, miners invest in hardware and are separate from the network since they are able to switch mining to any PoW coin they like. In the TomoChain network, the masternodes are invested in the tokens, and this makes them an inseparable part of the network. Governance is a big deal for decentralized networks, and there are many different approaches to making it work. Some have claimed that a masternode network is the best way to govern a blockchain network, and the wider the network of masternodes, the better.

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