Tomochain switched to its mainnet in December 2018. Tomochain has POSV (Proof-of-Stake Voting) consensus, 150 Masternodes architecture and immediate transaction approval at a price close to zero. PoW-based miners have low costs because they try to eliminate Tomochain and the operations on the network are very fast. Tomochain uses a dual validation mechanism to prevent forks and to detect useless nodes. And the block creation sequence is pre-determined for each chain.
EVM (Ethereum Virtual Machine) is applicable on the TomoChain network. So TomoChain supports all Ethereum smart contracts, protocols, decentralized applications. This is also a big plus for those who want to switch from the Ethereum network to the Tomochain network.
By staking your TOMO coins to the masternodes that confirm the transactions, you will get a share of the earnings of the masternodes in every epoch (every 30 minutes). For details, please read the STAKING heading below.
- 2 seconds block time.
- Near to zero transfer fee.
- You do not need to know coding to issue a token with TomoIssuer; create your token easily.
- With TomoZ, you don't pay TOMO for token transfers; pay with which token is transferred.
- TomoX protocol will coming soon. Tomochain will launch its own DEX platform. It will present the SDK that will help you to build your own DEX. There can be created 150 dexs which will share the same liquid pool.
- The TomoP protocol is coming. You will be able to create and use your own privacy token. You will be able to hide your TOMO transfers if you wish.
- Lending protocol is coming.
Total Supply: 100.000.000 TOMO
Circulation Supply: 69.830.825 (25 February 2020)
Staked Amount on Masternodes: 38,929,323 (25 February 2020)
CEO: Long Vuong (From Creator Team of NEM).
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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, you will get a share of the earnings of the masternodes every epoch (every 30 minutes). You can easily do this with the TomoWallet app or with your Ledger cold wallet.
You will receive the rewards to your regular wallet; so they will be unlocked. Your staked TOMOs will be locked by a smart contract. When you want to unstake/unlock your TOMOs, you have to wait 96 epochs (aprx 48 hours) until your TOMOs leave the smart contract. After 96 epochs (48 hours), you will receive notifications and you will be able to withdraw your TOMOs in your wallet.
In addition to standard masternodes, TomoChain has staking pools. The founders of these pools have chosen not to earn as much as standard masternodes (they usually share more than 80% rewards) and thus provide more returns to stakeholders. Another advantage of pools is that they can fix the maximum capacity. For example, an unlimited number of stakes can be made on a standard node. In this case, the number of participants in the masternode increases and the income you earn decreases. However, the maximum capacity can be adjusted in the pool system so no more stake can be made when the maximum capacity has reached. So your income remains constant or just increases. For detailed information: https://tomopool.com/tr
⚙️ TOMO MINING
Detailed Information: https://docs.tomochain.com/wp-and-research/economics-paper/
COMPARISON WITH COMPETITORS