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What is TomoChain and the TOMO Coin?

what is tomocoin

In this transaction, you will receive the tokens directly from one of the holders and send an equivalent amount in fiat currency to their bank account. The other option when buying the tokens is to use one of the exchange platforms which supports them but it might not be possible to buy them for fiat currency on every platform. If this is the case on the one you prefer you can simply buy a token with better liquidity first and then swap them for TOMO.

what is tomocoin

Token sale and Distribution

what is tomocoin

Any business that plans to build their product on Ethereum can utilize Tomochain to exploit the increased speed and reduced cost while still supporting Ethereum smart-contracts through cross-chain token transfers. As Tomochain continues to scale the network, these benefits will be important for attracting developers and businesses. It has a market cap of around $37 million, with a daily trade volume of just below $1 million and a circulating supply of 59,461,225 TOMO, at the moment of writing. TomoChain is usually paired with ETH and BTC in trading and is currently available on exchanges like Hotbit, KuCoin, Vinex, Gate.io, DDEX and Dex.top. The fact that TOMO hasn’t been listed on a major trading exchange shows you that the token certainly has potential for financial growth in the near future. There is a fixed supply of 100 million tokens which were initially of the ERC20, Ethereum-based standard but have since switched onto the TomoChain mainnet blockchain.

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It features transaction speeds that are considerably faster than Ethereum’s, and are roughly comparable to those on Tron (TRX), a blockchain well-known for its fast speed. TomoBridge is a token swap and bridge application that allows TomoChain to interact with other blockchains. With TomoBridge, users can swap tokens from one blockchain to another using a simple graphical user interface (GUI).

  • From reading the whitepaper its clear to see how important the team see the wallet being in its adoption.
  • You should consider consulting with a financial professional before investing in cryptocurrency to ensure that it is right for your circumstances.
  • However, if you’re not worried about costs and profit but only about what you’ll get per day, a modern high-end gaming PC can generate about $1 per day before considering electricity and other costs.
  • However, being TomoChain’s primary DeX, it has a good future potential if the blockchain itself grows in popularity.
  • Crypto Briefing provides general information about cryptocurrency news, ICOs, and blockchain technology.
  • Overall, Vietnam-based TomoChain seems to have a decent mixof talented individuals who have the expertise required to create and operate aquality blockchain.

And the partners and investors…

Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions. It is rewarded to blockchain miners who verify transactions and can be purchased on several what is tomocoin exchanges. TOMO tokens have governance use within the network as the holders get voting rights for staking them across the network. We have mentioned that the users who stake their tokens can vote on who runs the masternodes but know that you will need to deposit 50,000 TOMO tokens to be in the consideration to become a masternode candidate.

  • As noted, each block contains the hashed information of the previous block.
  • Furthermore, TomoChain helps developers to get dApps into action quickly, without compromising on security.
  • The very best utility tokens are the ones which put the token holder in the position of supplying tokens to businesses who would be able to effectively make use of the platforms in question.
  • We use AI as a tool to deliver fast, valuable and actionable information without losing the insight – and oversight – of experienced crypto natives.
  • Similar to Etherscan, but with additional enhancements, TomoScan provides transparent on-chain analytics displaying technical visualizations of network activity.
  • $7.5 million has already been raised in private presale contributions and $1 million further will be raised during public sale.

What is TomoChain and the TOMO Coin?

Tomochain is our blockchain infrastructure solution to the scalability problem with Tomoapp and with blockchain technology in general. 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. Tomoapp will be the first application utilizing this blockchain infrastructure which later on will be offered to other companies for token issuance and integrations. To address the issue of scalability, Tomochain is envisioned to be a network of chains that support decentralized apps and token issuances built on an instant confirmation, near zero transaction fee smart contract. Central to the roadmap for adoption is “horizontal scaling”; Tomochain will be a second layer blockchain with improved performance functions integrated into Ethereum via atomic cross-chain transfers. An ecosystem building program is planned to help facilitate development of dapps for the long term growth of the project.

Furthermore, TomoChain helps developers to get dApps into action quickly, without compromising on security. This is achieved with the help of TomoChain software development kits (SDKs), TomoP SDK, TomoX SDK, and TomoWallet SDK. Things don’t always https://www.tokenexus.com/cryptocurrency-regulations-around-the-world/ go as planned but addressing issues and keeping the community and investors in the loop can make or break a project. It is therefore important to evaluate price relative to the individual project, its maturity and the market it is going after.

Over $1million Locked in Tomo & New Bitcoin City – Crypto Times

Over $1million Locked in Tomo & New Bitcoin City.

Posted: Mon, 16 Oct 2023 07:00:00 GMT [source]

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