What is TomoChain (TOMO)? Things to know about TOMO coin 2020

tomochain-tomo-coin

TomoChain (TOMO), a blockchain platform developed by Vietnamese people. You do not hear wrong, it is completely developed by Vietnamese people. So…

  • What is TomoChain? What is TOMO coin?
  • Should I invest TOMO coin?
  • Buy and sell TOMO coin Where is the reputation?
  • TomoChain Wallet Which should be used?

If you are looking to find out TomoChain platform and potential invest TOMO coin, this article is what you need to find

What are you waiting for, let’s start the article!

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What is TomoChain? What is TOMO coin?

TomoChain is a platform blockchain, developed with the purpose of becoming a public blockchain integrating Ethereum’s virtual server (Ethereum Virtual Machine – EVM) with fast transactions, low transaction fees and high security. .

You may not know:

What is Ethereum? Ethereum Basics for Beginners

Besides that, TomoChain It also provides developers with a platform to develop decentralized applications on the Internet (dApps) it.

Why was TomoChain born?

When Bitcoin and Ethereum was born, it introduced the world to blockchain technology and what blockchain technology can do. However, these two platforms soon revealed shortcomings that made it difficult for them to realize their full potential. That is why blockchain platforms are similar to TomoChain was born to address those shortcomings.

So what are the disadvantages? TomoChain What is aiming to solve?

They are:

  • High transaction fees.
  • Limited scalability hinders the development of blockchain platforms.
  • There are times when the Etherem blockchain becomes overloaded and congested which impedes transactions.
  • There are many blockchains that are not optimal in interacting with the Ethereum blockchain

What are the issues raised above? TomoChain aiming to solve. So TomoChain’s solution what?

How TomoChain Solves The Problem

tomochain

To solve the problems mentioned above, TomoChain towards a solution using consensus protocol PoS (Proof-of-Stake) instead PoW The beginning of Ethereum. Along with that is the integration of support for all Smart Contract, protocol EVM and Atomic Cross-Chain.

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With PoS, TomoChain improved and upgraded to Proof of Stake Voting (PoSV). So what’s different about PoSV?

PoSV of TomoChain ask those who want to be the Master Nodes need to own 50,000 TOMO, along with receiving votes from TOMO Holders. Master Nodes will play the role of creating new blocks in TomoChain.

When a new block is created on TomoChain, it needs to pass 2 authentications. The first is a sequential confirmation on the network and the second is a confirmation from the Master Nodes. Through this mechanism, the network TomoChain Improved security.

Due to new developments, TomoChain fixed the outstanding problems in the Ethereum blockchain. Thereby bringing a new experience with extremely low transaction fees (only 1/100 of Ethereum) and fast transaction speed.

What is TOMO coin?

TOMO coin is the base currency of TomoChain. It plays a key role in maintaining stability, security, and economic impetus for network participants.

At the time of its release, TOMO coin is an ERC-20 token that runs on the Ethereum blockchain.

However, after completing the mainnet on December 14, 2018, TomoChain has its own blockchain and TOMO coin officially works on the blockchain. TomoChain.

Token symbol TOMO
Blockchain TomoChain
Maximum total token supply 100,000,000 TOMO
Total tokens in circulation 71,103,475 TOMO
Basic information of TOMO coin

Ratio distribute TOMO coin

tomo-coin

What is TOMO coin used for?

TOMO coin Mainly used for:

  • Join staking and get rewarded as block reward.
  • Used to reward staking participants.
  • Used to raise capital for projects deployed on TomoChain.
  • When developers want to release dApps, or applications on TomoChain, they must use TOMO coin.

How to mine TOMO coin

Because TomoChain uses the PoSV protocol, a variant of PoS, not a PoW protocol like Bitcoin, you cannot mine TOMO coins like you can mine BTC.

However, you can participate in staking or become a master node on TomoChain to receive a reward of TOMO coin.

Should I invest TOMO coin or not?

Deciding exactly which coin or token to invest in is very difficult because the cryptocurrency market is very volatile. So, I will outline some key points for you to refer to then learn more and make your own judgment and investment decisions.

TomoChain Development Team

TomoChain-Team
TomoChain Team

Team TomoChain come from many different fields, but share the same ideal of a decentralized future powered by blockchain technology. Most of the key members of the development team are Vietnamese nationals.

The project leader is Mr. Long Vuong, as Co-Founder and CEO of TomoChain. Besides his role in the TomoChain project, Mr. Long is also the co-founder and project manager of the NEM blockchain project, PhD in Economics, University of Massachusetts. If you want to learn more information about the development team can visit Go to the project’s information page: About or TomoChain’s youtube channel: TomoChain.

TomoChain Development Roadmap

TomoChain Roadmap

In the first half of 2020, the development team completed all the plans outlined for the platform TomoChain.

The last update the team mainly introduced upgrades to increase the effectiveness of TomoX, a protocol layer in the ecosystem of TomoChain to support building decentralized exchanges on top of it.

If you want to check out the development roadmap of TomoChain The most up-to-date way, can be accessed at the link: https://tomochain.com/tomochain-roadmap/

With the completion according to the group’s set schedule, it partly shows the professionalism as well as the high concentration of the members on the project. TomoChain.

This will ensure the growth potential of TomoChain and promises groundbreaking innovations in the future of TOMO coin.

TOMO coin price

Currently, at the time of writing TOMO coin price is being traded at 0.496 USD and in the last 24 hours the fluctuation is very slight, less than 1%. The highest price of TOMO coin ever was set at 2.3 USD (April 2018). That is, compared to the peak price, the current price of TOMO coin is dividing more than 4 times.

Meanwhile, the lowest price ever of TOMO coin at 0.14 USD was set on March 13, 2020.

Where to buy and sell TOMO coin?

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy TOMO, sell TOMO coin has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell TOMO coin in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy TOMO coin For prestige, I think the best currently is the Bitmoon exchange.

See more articles:

What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

International reputable TOMO coin trading platform

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the name of the exchange and a comparison table of transaction fees for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Mainly trading TOMO coin Your account on international exchanges all use BTC, USDT … to conduct trading.

Tomochain coin wallet should use

Depends on usage TOMO coin your wallet that you will choose for yourself the appropriate wallet.

Suitable for those who want to store TOMO coin long term and few transactions.

The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.

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The best choice for this wallet is Trust Wallet, with a friendly and easy-to-use interface.

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What is Trust Wallet? How to create a Trust Wallet and use details

This wallet is suitable for those who regularly trade.

Some Reputable trading platform that you can refer to are: Bitmoon exchange, Huobi exchange, Binance exchange…

In addition, you can choose to use a wallet developed by TomoChain itself at: https://tomochain.com/tomowallet/

Conclude

This article has summarized the most basic information you need to know about Tomochain and TOMO coin. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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