VALUE TRANSFER REDEFINED WITH TOMOCHAIN

There is no doubt whatsoever, that one of the major highlights of the 21st century will be the birth of cryptocurrencies and the blockchain technology that powers them., After centuries of being forced to accept highly corrupt and grossly inefficient centralized monetary systems, the world was ushered into a new paradigm where the creation of value is no longer the exclusive forte f centralized authorities and corrupt banking systems. Now people all over the world have the option of conducting transactions with one another on almost anything, both liquid and traditionally non-liquid assets without the need to resort to banks or expensive middlemen.

Despite the searing rise of the blockchain industry, however, a myriad of challenges have come up especially n the last few years which if not taken care of can spell the doom of the industry. notwithstanding the treats by authorities especially in Asia, it is the internal problems of the blockchain industry that pose the most threat to its survival. Chief among these problems is the growing costs of sending value between individuals using the blockchain technology. With Bitcoin, for example, it can cost up to $30 in transaction fees alone in order to send any kind of payment on the Bitcoin blockchain. Another worrying trend is the inordinate amount of time it takes for these transactions to go through, as Bitcoin transactions take a minimum of 10 minutes and can take even days to confirm with lower transaction fees attached to them. Even blockchains like Ethereum are proving to be very slow as they were not created with anticipation of the widespread use they have managed to attract. Ethereum has the capacity of processing only 15 transactions per second, which is grossly inadequate and raises the seemingly intractable problem of scalability in the industry.

The Tomochain Solution

Tomochain is a blockchain based startup whose eyes are set on the plethora of problems that currently plague the blockchain industry, whose goal is to provide the industry with sweeping solutions that will shake things up and redefine the standards of sending value from any part of the world. Tomochain is platform that aims to provide cryptocurrency enthusiasts with an effective alternative that take their transactions well above the present standards of the industry aiding it in delivering the promise of providing citizens of this planet with a seamless, decentralized, cost-efficient, and instant means of sending anything of value between any two points of the planet without the use of any kind of middleman. Tomochain is the next-gen solution that will aid blockchains such as Ethereum for example, with a seamless tool to make transactions as affordable and as swift as possible.

A Cost-Friendly Alternative

Tomochain is set to turn the industry upside down and create new rules with which people can send money to their loved ones, and business partners around the world. In order to achieve this, Tomochain wants to deliver a near-zero transaction fee ecosystem that will not only revive the feasibility of micropayments using the blockchain technology, it will enable businesses that have abandoned cryptocurrencies with a way back in that will help them attend to a wider spectrum of clients and customers. One of the greatest points of attraction of cryptocurrencies have been their stark contrast from banking institutions which charge high fees to process transactions, and the Tomochain platform will aid the industry deliver this promise once again with its revolutionary technology.

Tomochain is a platform that is designed from the ground up with the present and even potential future problems that will arise for the blockchain technology in mind. Tomochain will finally solve the scalability problem that plagues the Ethereum blockchain, for example, allowing decentralized autonomous organizations the necessary leverage to issue tokens and process their transactions near instantaneously and with as close to zero transaction fees as possible. The Tomochain platform is the timely solution that all lovers of the blockchain technology have been hoping for, and it is finally here.

Unique Features of Tomochain that will make it explode as a Blockchain Product

Cryptocurrencies are growing at an astounding rate, and if you do not keep up, you may get left behind. The exponential growth of cryptocurrencies and blockchain is due to the fact that every second more people are joining the crypto community because of the wonderful features they pack. It is no news that centralized monetary systems are just a corrupt means of surcharging unsuspecting customers, and little wonder Governments, Agencies and Institutions get agitated and keep making moves to regulate or blacklist cryptocurrencies. Unfortunately for the agitators, these cryptosystems are decentralized. One of such decentralized system is the “Tomochain”

Tomochain is a basic framework of blockchain created to be used for decentralized applications, integration and the issuance of tokens. It is also designed to proffer solutions to the problem of scalability where the Ethereum blockchain is concerned. Tomochain intends to be an integral part of the internet of value, and this basically means a point on the blockchain where there is the existence of digital assets in the form of information packets. Tomochain aims to achieve frictionless, fast transactions and a trusted, decentralized and trusted store of value.

Highlights of Tomochain

· ICO Hosting

The platform will deal with token integrations and token issuances for both big and small businesses; there is also the availability of smart contracts for the hosting of decentralized apps.

· Scalability

There is an ingenious solution to tackle the scalability problem as regards the Ethereum blockchain (public permissions)

· Proof of Authority

An Ethereum-based codebase agreement for proof of authority.

· Fast and Free

Confirmation takes 2 seconds and there are no transaction fees.

· System

Servicenode and masternode system

· API Support

Token integrations and issuances have API support.

· Smart Contracts

Transactions and mining are smart contracts based.

· Exchange Protocol

ICO smart-contract templates, and an integrated exchange protocol.

· Decentralized

The governance and overseeing of the application is decentralized.

· Nearly Zero Fee

Cross –chain transactions between Ethereum and Tomochain enjoy zero-fee.

· Mining

Transactions (cashing in and cashing out features) are smart contracts-based

TOMO Network

The TOMO network is divided into four, namely:

· TomoChain: Public-permissioned blockchain system with embedded smart-contract features like: instant confirmation, high performance, near zero fee, open-source.

- Scalable infrastructure based on blockchain.

- Horizontal scaling is supported by adding good performance second layer blockchains embedded with Ethereum for atomic cross-chain transfer and backup.

- Auditability and transparency makes the system trustworthy.

- Token embedding is easy and fast.

- Community building program to implement various sets of token community and DApps.

· TomoCoin: Currency to regulate and oversee the TomoChain system.

- Payment method within the Ethereum and Tomo network

- A means for the reward engine to expand the TomoNetwork contributor’s community.

- A way to raise funds for the expansion of Tomo network.

· TomoApp: Decentralized question and answer social network, that rewards the contributors.

- Application to share knowledge

- fast, easy, cheap micropayments.

- Maintenance of user privacy.

- Contributors mine by contributing.

- Contributors create content of value while answering questions on the question & answer social app.

- Sets a price for contributors to watch your content.

- Live streamers can get virtual gifts and also get videos boosted.

- Users can create channels and charge access fees to the channel.

- Integration of a reward engine.

- Users can use the private messaging feature, this enables secure communication

- Prices can be set for extended answers to fans.

- Connects celebrities and experts with users in rewards concerned structure for the creation of good content

- Users can post questions, and experts or other contributors answer.

· TomoWallet: User-friendly and secure coin wallet for the safe storage of TomoCoin, Ethereum, and other cryptocurrencies on the Tomochain or Ethereum network.

- Users have the ability to receive and send multiple messages and tokens

- Integration of APIs for 3rd party apps and bots.

- Focus on user experience and security

One unique feature of the Tomochain that makes it stand taller than other cryptocurrencies is the creation of the TomoApp. The TomoApp is the only social app that makes use of its own native cryptocurrency, it was designed based on the Microservice architecture to enable extensibility and flexibility.

The first social media application to use the TomoChain system is the TomoApp. The app uses decentralized control by a combination of stakeholders on the app. The app successfully solved the problem of creating a network for contributors by creating a motivational system that attracts users synergy to build a new network for knowledge exchange.

Authentication

There will be a cross-user identity database to enable users to use one account for the TomoNetwork (TomoWallet, Tomochain, TomoApp) APIs for 3rd parties will be published to also use the same service. The development of Tomochain is the key to a decentralized and secure identity system for the TomoNetwork.

Keys

Users of the TomoWallet can use and control multiple keys/addresses and these addresses span across different blockchains like Ethereum, Bitcoin, and Tomochain. There will be an encryption of the private key using a passphrase and client and server will have access to this information. However, only the client can do the encryption or decryption. This invariably means there is no access the passkey to anyone other than the client, without the passphrase. Security is an important factor to consider, hence the use of BIP32 and BIP39 for the generation of random passphrases and also to enable secure safekeeping of the passphrase.

Tomochain

Tomochain is used on both Tomowallet and TomoApp and is issued according to the ERC-20 standard. Tomowallet and TomoApp intend to reach the highest level of performance attainable for applications which have ultra-fast transaction speeds and extremely low transaction fees. Tomochain by using an allowed public blockchain with embedded smart contract features is the solution to having transparency and security. Tomochain connects with Ethereum public blockchain with the aid of smart contracts allowing for interoperability between Ethereum public blockchain and Tomo network. It is also intended that Tomochain will utilize Tomochain as a protocol token to regulate and oversee the system which in turn will lead to the demand for TomoCoin from 3rd parties using the Tomochain.

Tomochain plans to hit billions of transactions every day. It is intended to be a public allowed chain working on the Ethereum network. As it is, the testnet is already able to get atomic swaps and 1000 transactions per second. The Tomochain testnet has an Ethereum codebase-based POA consensus, a two-second confirmation and nearly zero fees for transactions, it supports every Ethereum smart contracts and the testnet is available on MyEtherWallet.

Analysts think Tomochain is a network of chains that will support near-zero transaction fee and instant confirmation, and this is the perfect solution for apps that have been decentralized, token integrations and token issuance for small and big businesses.

Tomochain offers a cross-chain scaling which is a very vital part of the project. Ethereum interoperability in addition to the increased efficiency makes the project feel and look more like a support than a competitor. Businesses that intend to build their services or products based on Ethereum can make good use of Tomochain to harness the reduced cost and increased speed, yet still using Ethereum smart-contracts via token transfers (Cross-chain). These benefits that Tomochain offers will be significant in the attraction of businesses and developers, as Tomochain proceeds to do the network scaling.

Tomochain will get support from allowed nodes which will be set up and operated by Tomochain, these nodes will work as servicenodes and masternodes, making the system secure and ensuring that transactions are processed at high speed and availability. The masternode system is responsible for the near-zero fees, fast block time and security; all at the cost of decentralization.

Tomochain will be a very important part of the alternative decentralized financial system created on blockchain and internet technology which has more transparency, security, efficiency, equitability and all-inclusive than the other financial systems.

The possibilities are endless with Tomochain, with standardized APIs for 3rd parties, The integration of Artificial Intelligence for different features within the Tomoapp makes the experience pleasant.

Tomochain

The Tomochain is an underlying protocol token of the Tomochain project. There will be an initial release of the Tomochain as an ERC-20; the moment the mainnet is released, the Tomochain will release a different protocol but still using the Ethereum-based architecture which embeds a Masternode design to deal with scalability. The ERC-20 token aims at allowing users transact (buy and sell) tokens through 3rd party exchanges. In all of this, the Tomochain acts as a sidechain, through transfers by atomic cross-chain, taking care of every financial transaction that takes place on Tomochain applications and enabling interoperability between the decentralized application and token integration and token issuance. A large part of Tomochain is intended to be used in an Ecosystem building and reward engine program, to reward early contributors and developers.

Conclusion

Tomochain is not just another Bitcoin clone or some token that offers nothing concrete for its users the like of which is not already offered in the industry. This is a product that is well thought-out I the problems it intends to solve, well-tooled in the technology it seeks to deploy to achieve its its goal, and is backed by a visionary team that will continue to see it break new grounds and become a household name in this intriguing industry in the times ahead. The transfer of value within the blockchain industry must be more user-friendly and more affordable than what has ever been made possible using centralized systems, and Tomochain is the outfit that seems set to finally make this possible with its unlimited scope and very ambitious goals. The future is definitely here and it looks rosy, the future is Tomochain.

Token type: Utility Token

Team Overview- Members and Advisers

The Tomochain team is led by Long Vuong, with Son Nguyen, Minh Chu, Tung Hoang, and Min Kim among others also on the team.

Website: https://www.tomocoin.io/

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