TomoChain is one of the 2000+ crypto projects listed on CoinMarketCap. Most of the projects provide redundant services in the crypto space and are likely to be wiped out as we move forward, BlockPublisher got in touch with TomoChain to get to know more about this project and to know how it is different than the rest. Following is the Q&A session with Nguyen Bui, the Director of Marketing & Partnership at TomoChain, which gives an overview of the project from the perspective of someone who is involved with the project itself.
1- What is TomoChain’s Long-Term Vision?[To become one of the] top 20 public blockchains in the world.
2- What kind of ecosystem are you trying to make as of now?
We have blockchain, wallet, decentralized exchanges and d’apps.
3- How is TomoChain any different than other such projects?
We are compatible with Ethereum, but faster transaction and lower fee.
4- How is TomoChain handling the issue of scalability?
We apply Proof-of-Stake Voting (PoSV) consensus with randomization and double validation. [The platform provides] at least 2000 TPS while still enhancing security through double validation. 2-second block time and transaction confirmed within almost 4-seconds.
5- What is the current focus of the team?
Our focus now is the mainnet launch in December.
Nguyen also added, “When mainnet launches there will be swapping from token to coin.”
As developments are being made in the world of crypto and blockchain, more and more projects are erupting out. Some experts suggest that moving forward in time, it is highly unlikely that a project will survive unless it provides a pretty strong use-case, viable solution to a complex problem, enhanced functionalities or forms a strong partnership. Unlike the pretty dominant Ethereum, TomoChain employs a different consensus mechanism at its core and claims to provide faster transaction times and lower fees. This definitely puts TomoChain in the race for the top 20 spearheads of the crypto and blockchain arena.
TomoChain aims to become an ideal blockchain for d’apps which is scalable and it strives to provide an ecosystem for both big and small businesses to perform token issuance and token integration with ease. Although the services provided by TomoChain are almost the same as many other projects in the crypto arena, the edge lies in its speed and lower costs as compared to the other platforms. If it is to survive the trials of time, it needs to pass its competitors in terms of speed, scale, and efficiency.