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TomoChain Takes Giant Steps

TomoChain Pte Ltd, developer of the TomoChain public blockchain started to take giant steps starting from the last quarter of 2020.

Singapore-based TomoChain Pte Ltd with offices in Vietnam and Japan reached a giant agreement with the Vietnamese Government at the end of 2020. Vietnam's Ministry of Education and Training partnered with TomoChain to store student records on the blockchain. Thus, all diplomas and certificates in the country will be stored in the TomoChain network. Demo product presented to the government and the product will be ready for final launch soon. This means that $TOMO coin will be used to transfer diplomas and certificates to the blockchain. In the first phase, approximately 1.5 million diplomas and certificates will be move to the TomoChain blockchain.

Again before the end of 2020, TomoChain Pte. Ltd had acquired Lition. This acquration; includes all blockchain-related assets such as technology, human resources, treasury and digital properties, but does not include Lition's German peer-to-peer electricity trading product (Lition Energie GmbH). TomoChain Pte. Ltd emphasizes that this agreement is very important for Central Bank Digital Coin (CBDC). So much so that TomoChain CTO Mr. Son said that "We want the Vietnam Central Bank Digital Coin" upon this purchase:(check the tweet).

TomoChain agreed with Poolz before the year ended. TomoChain will become the second platform to join Poolz after Ethereum. Thanks to the integration of Poolz with TomoChain, DApps will be easily moved from Ethereum to TomoChain. This will bring more scalability to applications and lower the cost of operation.

These Are Coming On TomoChain In Early 2021

Beginnig of 2021, TomoChain agreed to collaborate with the PAID Network to integrate PAID's smart contracts, to solve the complex problem of creating, signing and managing legal contracts.

With TomoIssuer and TomoBridge’s last updateensured any token in the Ethereum network can be wrapped/unwraped into the TomoChain network without permission.

With the statement made by TomoChain yesterday, the network upgrade (TomoChain 2.3 ~ The Zorro), which is expected to coincide with 22 January 2021 will take place effective in 30.915.660 blocks. With this upgrade;

  • EVM Update — Support for Solidity v0.6.6:It will allow developers to easily transfer codes from other EVM (Ethereum Virtual Machine) chains to TomoChain with minimal customization effort.
  • LuaSwap MultiChain: LuaSwap, the defi platform currently running on Ethereum will become multi-chain. LuaSwap was launched on Ethereum in October 2020 and will run on TomoChain shortly after The Zorro upgrade. Thus, it will get rid of the high transaction fees experienced in Ethereum.
  • TomoP Code Integration — Preparation for Mainnet Launch: A code will be uploaded to the TomoChain network for the mainnet of TomoP which is one of the unique privacy protocol ever exist. With this code, the technical requirements to enable TomoP will be completed. TomoP will be the first EVM and regulation compatible hidden transaction protocol that enables the fastest secret transfers under 4 seconds without requiring an intermediary.
  • TomoX Update: The current order cancellation fee in TomoX dexs was aimed at preventing malicious users from sending spam to the network with fake orders. However, with this update a fixed cancellation fee (0.001 TOMO) will be set for TOMO pairs and will be set to 0 for all non-TOMO trading pairs irrespective of value placed on the order book.
     

TomoChain Halving – Block Prize Halving Coming

TomoChain is powered by Proof of Stake Voting. Only 150 nodes can be selected as masternodes in the TomoChain network. TOMO owners control which nodes will create and verify new blocks on TomoChain netwok. TOMO holders stake their TOMO coins to one or more masternodes through the smart contract mechanism and vote on them. This way, the TomoChain community chooses who will verify transactions and create blocks.

By staking your TOMO coins to the masternodes that confirm the transactions, users get a share of the earnings of the masternodes in every epoch (every 30 minutes) and thus TOMO's are going in circulation.

After the genesis block in December 2018: block reward for the first and second year 4 million TOMO per year; for 3-4-5. years block reward is 2 million TOMO annually; for 6-7-8 years block reward is 1 million TOMO per year.

With the halving that will take place in the 31,536,000th block (estimated to be equivalent to 7 February 2021), the annual amount of TOMO driven will decrease from 4 million to 2 million. The approximately 2160 TOMO produced by a masternode in a month will fall to 1080. In short, the $TOMO coin's inflation will drop by 50%.

EXTRA LINKS

  • For more information about TomoChain click here.
  • For general information about TomoPclick here.
  • For more information about TomoChain halvingclick here.
  • For more information about TomoChain The Zorro upgradeclick here.

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