Tomochain Review 2019: What is TOMO??


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πŸ“ Overview πŸ“

Tomochain is building a transactional system that will be highly secure, have low latency and low fees.

It is also a blockchain that developers can use in order to build decentralised applications – that’s dApps.

Technologically, one of the key components of Tomochain is their consensus mechanism. They use something called Proof-of-Stake Voting (PoSV).

This is a masternode based Proof-of-Stake consensus algorithm that relies on a network of 150 masternodes.

These masternode operators have to stake 50,000 TOMO tokens to become a candidate. Token holders will vote for those masternode operators that will secure the network.

The TOMO token is utility token on the Tomochain network. They were initially issued on the Ethereum network in a crowd sale as ERC20. However, they were converted to native tokens in a one-for-one swap not long after that.

The TomoChain team consists of 30 members and most are located in Singapore, although the project also keeps offices in Vietnam and Japan.

The team members have a diverse range of experience including finance, software development and blockchain engineering.

Tomochain can be used to build your own dApps. External developers can use their developer portal to build their decentralised applications.

Tomochain is currently listed on exchanges including HotBit, KuCoin and BitForex. It is also listed on the Binance DEX.

Across these exchange books, there is strong liquidity which means limited slippage.

If you are going to be staking your coins then you are best served to use the proprietary TomoWallet. However, there are a number of other storage options including the Trust wallet and a hardware wallet.


πŸ“œ Disclaimer πŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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