TomoChain is a high performance opensource blockchain infrastructure framework for decentralized applications, token issuance and integration using the Ethereum code.
The Ethereum blockchain suffers from scalability issues that cannot support mass adoption and this is where Tomocoin resolves the problem. Using the Ethereum technology as the base and adopting cross-chain transfers and adding second layer blockchains will allow horizontal scaling on the TomoChain network.
The idea is that there will be node-chains that supports instant confirmation, and near zero transaction fees. Also, since TomoChain and Ethereum will be linked by a system of cross-chain smart contracts, cross chain token transfers are now possible. Of course TomoChain allows for Dapps, token issuance and integration.
Thank to TomoChain the blockchain is now more secure and transparent, as well as efficient and inclusive. There is also a frictionless knowledge sharing application called Tomo App that aims to build a social network focused on video sharing and mobile usability. Tomocoin will be the built-in cryptocurrency for the de-centralized socialnetwork allowing users to be compensated in cryptocurrency for pubblishing/contributing their experiences and knowledge, thus differenting itself from Facebook, Instagram and other social networks. Similar to Steemit but focused on video sharing.
TomoCoin has nearly zero fees, instant confirmations and, unlike Ethereum, is able to process billions of financial transactions per day; currently working on 2 second confirmation and zero transaction fee for transactions and atomic cross-chain transactions between Ethereum and Tomochain. Tomocoin will also be a long term decentralized governance mechanism within the tomo network to gather opinions from coin holders to decide the future directions of the network. The coin is also used within the network to :
-Set a price for an answer
-Boost a video
-Monetize its video channel
-Give virtual gifts
-Send and receive coins.
The Tomo application beta version is now free to download at the Apple App Store and Google Play Store.
Of course there is a user-friendly TomoWallet where you can store Tomo Coins and other digital assets. Furthermore there will be a Tomo debit card for physical payments.
The team is working on POA (Proof of Authority) consensus based on Ethereum codebase as well as implementing a Masternode and servicenode system
Soon the network will support all Ethereum smart contracts and there will be API supports for token issuances and integrations. Decentralized governance apllications and ICO smart contract templates will soon be used by everyone and everywere.
Tomocoin has potential to penetrate a growin market and do it with innovation. Combining cryptocurrency with social networks is the future of knowledge and information sharing, thus making it a great sector to get into. I expect great results from this project and hope to see it fully adopted soon.
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