Tomochain coin: A proof of stake coin for creating and issuing other tokens as well as creating Dapps on its blockchain
Tomochain coin: A proof of stake coin for creating and issuing other tokens as well as creating Dapps on its blockchain

By quintomudigo | cryptoforex street | 27 Sep 2019

$0.17 tipped


           

Tomochain coin is a native cryptocurrency of the Tomochain platform  created on Tomochain blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Tomochain coin was mainly created to enable developers to be able to build their Dapp on top of the Tomochain blockchain. Developers can also use the coin to create and issue the tokens of their Dapp. With Tomochain coin, developers of different Dapps can be able to use it to pay for the transaction cost of their tokens between different smart contract address. The Tomochain coin can also help different masternode to lock their Tomochain coin so that they are being used to secure the Tomochain blockchain thus in return they receive reward from the cost charge as well as from the new coins minted. Stakers can also use the Tomochain coin to vote for the masternode who should take part in securing the network thus in return they also receive reward.Tomochain coin will also enable developers of different Dapps to be able to exchange their created and issued tokens back to Tomochain coin thus enabling them to withdraw it and exchange it to other cryptocurrencies like bitcoin and ethereum.

Tomochain coin  transaction

  Tomochain coin transaction takes place on the Tomochain  blockchain explorer based on block height and timestamp.  Here is a view of Tomochain coin transaction;

To view how the transaction takes place at Tomochain blockchain explorer, simply follow the link below;

https://scan.tomochain.com/txs  

Date Launched

 Tomochain coin project was launched in 2018 with the main objective of allowing different Dapps to be built on its blockchain as well as allowing other created and issued tokens on its blockchain to be able to be converted to Tomochain coin.

Founder Of Tomochain coin

Tomochain coin was created by Long Vuong  with the main objective of becoming a native coin for its Tomochain blockchain thus allowing developers to be able use it to pay for transaction cost as well as to use it when they lock it in order to secure the Tomochain Network.  

Process of creating Tomochain coin

  Unlike cryptocurrencies like bitcoin and Ethereum which are released through the mining process using power supply and internet using the proof-of-work consensus, for Tomochain coin, that is not the case. Instead, Tomochain coin was created to become a proof of stake vote coin. During its launch, 83 million coins were issued accordingly while the remaining 17 million coin will be created through staking process using proof-of-stake vote consensus at a rate of 8 million for the first two years, 6 million the other three years while 3 million for the remaining 3 years. In the staking process, any staker can participate by simply voting the 150 masternodes to secure the network using their smart contract address. As a staker, the more coins used on your smart contract address to vote to any of the masternode the more reward you will be able to receive. The reward of the stakers can go as high as 8% per anum. On the other hand, to become a masternode, you need to have atleast 50,000 coins in your account as well as a 24-hour running internet thus can earn up to 30% reward per anum. After every 2 seconds, 900 blocks reward of 250 Tomochain coins will be released to its blockchain .50% of this reward will go to the masternode while 40% to stakers who will have voted to any of the masternode using their smart contract address. The remaining 10% of the reward will go to Tomochain company. Here is how the Tomochain coin staking process looks like;

If you want to start securing the Tomochain network as a masternode or you want to vote for your favorite 150 masternode using your smart contract address so that you can be entitled to reward as well, then you can join from below https://master.tomochain.com/  

Maximum circulation of Tomochain coin 

The maximum amount of Tomochain coin that is expected to be circulating in the Tomochain blockchain network should be  100,000,000  coins after 8 year period time. During its ICO, 55 million coin was created from genesis block for sale. Another 12 million coins were preserved to team members to be vested for a period of 4 years while another 16 million coins were reserved to be used for strategic partnership and for the ecosystem building fund. The remaining 17 million coins are the one that will be rewarded to masternodes and stakers who vote any of their masternode using their smart contract address. Here is how the distribution of Tomochain coin looks like;  

Tomochain coin  Price

Currently, 1 Tomochain coin is worth more than $0.3 and its price is expected to increase over the next period of time. Tomochain coin is being abbreviated as TOMO.

 

Converting my Tomochain coin to other cryptocurrencies

To convert your Tomochain coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Tomochain coin to Bitcoin or Ethereum. Here is a list of exchanges where you can easily exchange your Tomochain coin to your favorite cryptocurrencies;  

https://www.binance.com/en 

  https://www.kucoin.com/  

gate.io

bitforex.com

hotbit.io

https://oceanex.pro/en  
Storing my Tomochain coin

To store your Tomochain coin, you need a  Tomochain coin wallet   . You can either store online or offline. To store your Tomochain coin online, you can either download their appstore wallet,android wallet or can store them on their website platform at https://wallet.tomochain.com . To secure your Tomochain coin from being stolen by hackers, you can use a ledger nano wallet   

Transferring my  Tomochain coin to other Users

If you want to transfer your Tomochain coin to another user, the two of you must have trust in each other. The trust should be the Tomochain coin address provided for by the receiver while the sender must have the Tomochain coin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;  

 

Knowing more About Tomochain coin

If you feel that you need to learn more about Tomochain coin , then you can follow them on their site. Here is the link redirecting you to Tomochain coin platform website 

https://tomochain.com/  

Now that you know, I think that it is time for you to start earning some Tomochain coin by simply staking them to any of 150 verified masternode so that they can be used to validate transactions as well as to secure network on Tomochain blockchain platform. . The more you stake the more  you earn. If you feel that i should also own some Tomochain coin for helping you know more about it then here is my Tomochain coin address 0xcf6a54007a6657146b9022195ed20057d9c66618       


quintomudigo
quintomudigo

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Teacher Forex School.


cryptoforex street
cryptoforex street

Cryptoforex street provides knowledge related to cryptocurrencies, tokens and blockchain technology. The knowledge consists of different cryptocurrencies with passive income, crypto mining, crypto staking and many more.

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