WOO announced $TOMO-PERP started trading on WOO X, with up to 20x leverage. With a 53% price gain over the past 3 months, will $TOMO see a further climb, or witness a drastic pullback?
TomoChain introduction
TomoChain is a highly scalable and secure blockchain network in mainnet since 2018, taking a community-driven approach to accelerate the mass adoption of web3 applications. TomoChain achieves 2000 TPS, 2-second blocktime, and ~$0 gas fees without compromising decentralization.
Their mission is to accelerate the onboarding of millions of users by empowering today’s web3 applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits.
The TomoChain blockchain allows web3 builders to build high-performance, and feature-rich blockchain projects on an enhanced EVM-compatible platform. An array of products designed to support users’ speed, privacy, usability, and liquidity needs all in one platform.
TomoChain’s tagline:
- POWERFUL by nature
- POWERED by people
- EMPOWERING for builders
TomoChain’s main advantages in technology
TomoChain is an EVM compatible blockchain powered by the scalable Proof-of-Stake Voting (PoSV) consensus mechanism that allows every Ethereum smart contract to run with almost instant transaction confirmation. With the PoSV consensus protocol, TomoChain network provides:
- At least 2,000 TPS while still enhancing security through Double Validation
- 2-second block-time and transaction confirmed within 4 seconds
Moreover, Proof of Stake Voting consensus gives an incentive to all TomoChain token-holders to play an active part in staking across a network of 150 high-quality Masternodes, and to monitor their performance and governance actively. 150 Masternodes work to secure the entire TomoChain ecosystem. Each Masternode is a server which uses its computing power to create and sign blocks.
Double validation provides an additional trustworthy validation layer for security enhancement through provable uniform distribution decentralized randomization. Specifically, when a block is created by a Masternode, it must be verified by another Masternode that is randomly selected among the set of Masternodes before being added to the blockchain. Double validation strengthens TomoChain’s security, reduces the risk of forks, and nothing-at-stake attacks, making TomoChain unique among Proof-of-Stake based blockchains.
TomoMasterDAO - TomoChain’s community focus
TomoMasterDAO is a decentralized autonomous organization (DAO) built on the TomoChain blockchain. The TomoMasterDAO project puts forward a solution of governance to further build the TomoChain network and build a strong community.
The scope of TomoMasterDAO is to offer fundings for promising projects built on TomoChain and community initiatives. In simple words, look at this DAO as a tree branch to extend TomoChain’s network.
The launch of the new token (tDAO) has the potential for bringing in new users and engaging users past and present. With tDAO, users can vote for projects applying for grants provided by the TomoMasterDAO. The goal of tDAO is to allow users to have a say in funding decisions, in which allocations will be distributed to projects built on top of the TomoChain ecosystem.
TomoMasterDAO gives you the opportunity to explore, experiment, and innovate in the world of web3 and blockchain. They believe in order to develop the financial and social tools of the future, contributions to projects in their early stage is a fundamental component. They have built a platform to offer grants decided by the community, for projects looking to innovate with the TomoChain ecosystem.
TomoChain’s ecosystem
To facilitate interactions between users (including Voters and Masternode owners) and the TomoChain blockchain, a set of products has been built to support speed, privacy, usability, and liquidity needs all in one platform. Their goal is to develop highly innovative products and technologies to make TomoChain an ideal platform for decentralized finance (DeFi), web3 applications, and blockchain games.
- TomoMasterDAO: TomoMasterDAO is a community-governed platform that propels the development of the TomoChain ecosystem
- TomoScan: TomoScan provides a user-friendly and detailed blockchain explorer user interface for TomoChain. All blocks, transactions, finality, smart contracts, Dapps and token information are captured. Also offered are technical visualizations and useful statistics about TomoChain performance, token holders and other functionalities.
- TomoDashboard: TomoDashboard is a dashboard for TomoChain's network status. It shows various metrics, including the current number of masternodes, masternode performance, current TPS, block time, confirmation time, finality and other useful metrics.
- TomoStats: TomoStats is a system for checking current and historical operational status of all TomoChain infrastructure.
- TomoMaster: TomoMaster is a governance dApp that allows users to see a list of Masternodes and Masternode Candidates. TomoMaster is also used to launch a Masternode Candidate, vote for Masternodes, and view Masternode performance statistics.
- TomoWallet: TomoWallet is the official mobile wallet of TomoChain. Users can store TOMO, tokens issued on TomoChain, vote for Masternodes, track rewards and interact with Dapps.
- TomoBridge: TomoBridge connects TomoChain and other chains. It allows users to easily migrate native TOMO from TomoChain mainnet to another chain and vice versa.
- TomoIssuer: TomoIssuer is a dashboard to issue a TRC20 or TRC21 standard token without requiring any programming skills.
- LuaSwap: LuaSwap is a multichain AMM. It allows users to swap, add liquidity, yield farming and stake for passive income. Built on LuaSwap is the multichain launchpad LuaStarter.
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The above information and graphical content were quoted from tomochain.com, as accessed on October 17, 2023, with all materials belonging to their respective owners.
The content above is neither a recommendation for investment and trading strategies nor does it constitute an offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by themselves.
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