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TomoChain (TOMO) is a cryptocurrency made by Long Vuong in 2017. It is a decentralized public blockchain that is a solution for decentralized applications (dApps).
Described as the most efficient blockchain for the token economy, TomoChain is an Ethereum Virtual Machine (EVM) compatible blockchain that is faster than its competitors and offers fast times, double validation and very low transaction fees. The entire project helps to be a strong player in the Internet of Value as it creates a strong decentralized solution for any potential dApps. The fact that it is EVM compatible means that any dApp already built on Ethereum can easily transfer over to TomoChain with ease. This is because TomoChain is compatible with all Ethereum smart contracts and protocols which also allows cross-chain token swaps to occur via Atomic Swaps. Furthermore, this also means that any major technical upgrade released on Ethereum can be researched and added to TomoChain codebase if appropriate.
TomoChain uses a unique Proof-of-Stake Voting (PoSV) consensus mechanism which incorporates a fair built-in voting mechanism and security is guaranteed with double validation. The network relies on a master node system in which 150 master nodes are voted in by the community. This master node structure allows for the network to achieve a very high throughput that has reached over 2000 Transactions Per Second (TPS) on the test net. The team has the goal of reaching around 20,000 to 30,000 TPS by incorporating scaling solutions such as sharding.
TomoCoin is the ERC-20 coin that fuels TomoChain. It is required for a user to become a master node operator as they need to deposit 50,000 TOMO into a Voting Smart Contract to eligible to be voted. Furthermore, users are rewarded TOMO for voting in the 150 master nodes that run the network,