TomoChain is a high-performance blockchain project and is among the very few blockchains that are being used commercially by enterprises and government bodies. There are quite a few interesting reasons why you should deep-dive into this project.
Ten Reasons to Buy TomoChain
1. TomoChain is a blockchain platform that supports instant transactions with near-zero fees. The team’s mission is to create a financial system that is more reliable, transparent, dynamic, and usable for everyone.
2. TomoChain is building a core engine for central bank digital currencies (CBDCs), which banks will use globally in the future. The platform uses an encrypted algorithm to secure transactions and to keep all customers’ financial data secret.
In addition to this, the platform uses IoT technology to trace vehicle critical data across different parties. Furthermore, it also records digital certificates on Tomo; thus, the digital certificates become tamper-proof and easy to verify.
3. The TomoChain Ecosystem
It provides an ecosystem for high-performance blockchain projects. It enables developers to create high-performance decentralized applications (dApps). Additionally, they have an energy exchange through which consumers can trade energy. Besides, in Tomochain’s healthcare records system, personal healthcare data is owned by the patient.
4. Tomo runs with a speed of up to 2,000 transactions per second and has a two second block time. Because of this, its financial transactions get confirmed within seconds. This is why the transaction fees on TomoChain are 1,000 times smaller than the Ethereum transaction fees.
5. It utilizes the proof-of-stake consensus mechanism that allows stakers to secure the chain and earn TOMO as rewards. Additionally, stakers can earn up to 7% annual interest as passive income by staking TOMO on the TomoMaster contract.
6. Tomo Wallet is the official wallet of TomoChain. Users can also cast their votes, track rewards, and play games by using the dApps on TomoChain. Additionally, users can also control their wallets without any mediators between the sender and receiver of a transaction.
7. TomoDEX is a decentralized exchange powered by the TomoX protocol. Its interface is user friendly and has a mechanism to issue TRC21 tokens. Tomo blockchain is transparent which shows blocks, transactions, and token holder statistics. Moreover, it does not store tokens. Hence, all the tokens remain safe in the wallet.
8. TOMO is an ERC-20 token; users can store it in the mobile wallet developed in-house. It is also compatible with Trust Wallet, Ledger hardware wallet, and My Ether Wallet.
9. TomoChain DeFi Ecosystem
It allows token holders to pay transaction fees with the tokens they hold. Because of its reliable exchange platform, anyone can create decentralized exchanges and lending platforms within a few minutes.
10. It is designed to create safe and untraceable transactions. The transaction value between the users and addresses remains private. Moreover, its cross-chain swap allows traders to trade cryptocurrencies on other chains such as Bitcoin, Ethereum and more.
TomoChain Team
Long Vuong is the CEO of TomoChain. Earlier, he was the project lead of the NEM blockchain project.
TomoChain’s advisory board is composed of innovators like Kyn Chaturvedi, the Chief Business Development Officer. Earlier, he worked as Chief Operating Officer with BattleBards LLC, which is the most expansive premium audio library created for the tabletop gaming experience.
TomoChain Partnerships
- TomoChain partnered with PAID Network. With this partnership, PAID users now operate on TomoChain instead of Ethereum to eliminate gas fees.
- Tomo partnered with Vietnam’s Ministry of Education and Training to issue and protect millions of diplomas on the blockchain.
- Tomo shook hands with Decentr to integrate Tomo into Decentr’s ecosystem, and Tomo also partnered with Frontier to integrate TOMO and TRC-21 into its cross-chain DeFi platform.
- In order to raise funds in a decentralized manner and to enable new projects, swapping protocol Poolz partnered with TomoChain. Besides this, they also auction fungible and non-fungible (NFT) tokens with OTC deals.
- To reach a global audience, TOMO was integrated into King Wallet for deposits/withdrawals and to be used in the Kingdom Game 4.0’s payment network.
- TomoChain partnered with MANTRA DAO in which MANTRA DAO will launch a masternode on Tomo as well as integrate TomoChain and $TOMO into its DeFi platform. Tomo also partnered with Bluzelle, in which Bluzelle price oracles will provide TomoDEX with reliable, real-time price feeds.
- Ledger Nano S supports TomoChain. It also partnered with BlackCat Blockchain Investments. Users can also buy TOMO using Visa and Mastercard with the Simplex application.
- To bring TOMO to the Binance Chain, they collaborated with Binance to create a cross-chain bridge. Additionally, TomoChain also integrates Chainlink oracles to deploy data-driven smart contracts.
- TomoChain collaborated with Neo to grow the blockchain ecosystem. They also joined with ThreeFold to decentralize the Cloud Computing and TomoChain masternodes.
Upcoming Events
The events that are coming in the first quarter of 2021 for Tomo are as follows:
- TomoChain recently announced its Zorro release. This upgrade will happen at the block height of 30,915,660. It will bring an upgraded version of EVM (Ethereum Virtual Machine).
- TomoChain’s first halving is expected to take place in February 2021. With this event, its token supply will decrease.
28 days left to $TOMO halving 👀
-> https://t.co/PJUHuR7CHO#TomoChain pic.twitter.com/5xAqieMMOC
— TomoPool (@TomoPoolANN) January 9, 2021
TomoChain Technical Analysis
TomoChain price, at the time of writing, is $1.22 with a 24-hour trading volume of $11,004,169 and a circulating supply of 76.7 million TOMO coins. The maximum supply of TOMO is 100 million coins. The top exchanges for trading TOMO are currently Binance, KuCoin, BitForex BiKi, FTX, and Hotbit.
It has already bottomed out and is trying to break out from the $1.42 level. If it will breakout, then it can reach a new all-time high of $1.80 to $2.00, with immediate support at $1.22.
Conclusion
TomoChain is a decentralized finance ecosystem with a great community. Interestingly, Tomo is touching on the latest innovations happening in the DeFi space now.
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