Tomocoin (TOMO) is marketed as a unique token designed for use in the Tomochain. The coin is the native cryptocurrency to Tomo network, which includes the Tomo infrastructure, Tomo application, and Tomo wallet. So, what is Tomochain and how does it work.
What is Tomo network?
Tomochain is the blockchain infrastructure solution for scalability problems that the blockchain technology faces. According to Tomo website, “Tomochain is a public permission blockchain with integrated smart contract functionalities (currently based on the Ethereum code-base) which allows for nearly zero fees & instant transaction speed with public auditability of financial transaction records. Tomochain opts to use Proof of Authority and build nodes in multiple locations to make sure the database is in a highly secure, immutable state.”
The network wants to become the leading force in designing its infrastructure and building the internet of value. It’s also working towards creating an alternative more secure, efficient, inclusive, equitable and transparent financial system for everyone.
Tomo Network features
The Tomo Network feature includes:
Tomochain: this feature is used for scalable blockchain infrastructure, fast and easy token integration and trustworthy by auditability and transparency. The Tomochain Testnet on MyEtherWallet includes:
- POA consensus based on Ethereum codebase
- Zero transaction fee for transaction and 2 second confirmation
- Support all Ethereum smart contracts
Tomowallet: the Tomowallet focusses on the security and UX of the network Sending/receiving multiple token and messages and APIs for third-party apps. The wallet is secure and user-friendly giving users the financial control. This is the most important aspect of the infrastructure of the “internet of Value”.
TOMOApp: the TomoApp is for contributor’s network, mining by contributing, users privacy and built for zero fee micropayment. The application is known as the Tomo knowledge-sharing application. It’s flagship consumer application with the network. The App is available on Google Play Store and on Apple App Store.
The Team includes co-founders Long Vuong, CEO, CTO Son Nguyen, CFO Ho Le, and Product Manager Tung Hoang. Long is the former project leaf of a successful NEM blockchain. He holds Ph.D. in economics. Son on his side is an experienced and accomplished technical leader and founder of a blockchain developer group. With more than 10 years of experience in finance and investment, Ho is a CFA charterholder and Tung is a versatile engineer.
The team includes other experts and professional with many years of experience between them. The teams plan to build community, ICO platform on Tomochain, infrastructure upgrade and a decentralized governance in the future.