TomoChain is an innovative solution to the scalability problem with the Ethereum blockchain, and other current blockchain platforms. TomoChain relies on a system of 150 Masternodes with Proof of Stake Voting (POSV) consensus that can support near-zero fee, and 2-second transaction confirmation time. Security, stability and chain finality are guaranteed via novel techniques such as double validation, staking via smart-contracts and “true” randomization processes.
TomoChain supports all EVM-compatible smart-contracts, protocols, and atomic cross-chain token transfers. New scaling techniques such as sharding, EVM parallelisation, private-chain generation, hardware integration will be continuously researched and incorporated into TomoChain’s Masternode architecture which will be an ideal scalable smart-contract public blockchain for decentralized apps, token issuances and token integrations for small and big businesses.
Problems & Solutions
Main bottlenecks of classic blockchains:
Efficiency: Existing blockchains as employed by major crypto-currencies(e.g., Bitcoin or Ethereum) do not scale well to handle a large transaction volume, e.g. Bitcoin and Ethereum can handle around 10 transactions/second. This small throughput severely hinders a wide-spread adoption of such cryptocurrencies.
Confirmation times: The 10 minutes Bitcoin block-time is significantly larger than network latency. Furthermore, a Bitcoin block requires 5 subsequent blocks following it so that it can be confirmed; thus it takes on average one hour for a transaction to be confirmed (with low confidence). While Ethereum uses a smaller block-time, the average confirmation time still remains relatively high, around 13 minutes. These long confirmation times hinder many important applications (especially smart contract applications).
Fork Generation: The problem of fork chain consumes computational energy, time, and creates potential vulnerabilities for different types of attacks.
To start dealing with these problems, the team presents an overview architectural design of TomoChain’s master nodes. In particular, it proposes Proof-of-Stake Voting (PoSV) consensus, a Proofof-Stake (PoS)-based blockchain protocol with a fair voting mechanism, rigorous security guarantees and fast finality. The team also presents a novel reward mechanism and show that, with this mechanism, the blockchain has a low probability of forks, fast confirmation times, plus the contributions and benefits of masternodes are fair in the sense that the probability distribution function is uniform eventually.
Features & Highlights
Proof-of-Stake Voting (PoSV): the Proof-of-Stake Voting (PoSV) consensus enables TomoChain as an EVM-compatible and scalable public blockchain, on which every Ethereum smart contract can be effectively run with almost instant transaction confirmation.
TomoScan: Shows all blocks, transactions, finality, smart contracts, D-Apps and token information.
TomoMaster: Allows users to apply for a Masternode Candidate position; to vote for Masternodes and shows Masternode performance statistics.
TomoWallet: Securely store, send, receive TOMO and other tokens issued on TomoChain; Allows users to vote and track rewards.
TomoX: A secure and efficient relayer-masternode decentralized exchange protocol.
Token Sale & Economics
- Project website: https://tomochain.com/
- Project whitepaper: https://tomochain.com/docs/technical-whitepaper--1.0.pdf
- Token sale start time: TBA
- Ticker: TOMO
- Token type: ERC-20
- Total hard cap: TBA
- Total supply: 100,000,000 TOMO
- Initial circulating supply: 55,000,000 TOMO
- Public sale token price: 1 TOMO = $0.25
Token Utility & Use Cases
TOMO is the native cryptocurrency of TomoChain and will be the reserve cryptocurrency for all third-party apps running on TomoChain. Being the protocol token for the TomoChain infrastructure, TOMO will be needed by all parties utilising TomoChain to build apps or issue and integrate cryptographic tokens into their apps.
In addition to the above, TOMO is an integral part of the TomoChain network for a number of reasons.
TOMO will be used to fund the development of TomoChain and its ecosystem (TomoScan, TomoMater, TomoWallet, etc.).
TOMO will be used as a reward to incentivise the building of the TomoChain engine/ecosystem.
TOMO will be used as a long-term, decentralized governance instrument of the TomoChain network.
Roadmap & Updates
- Q4 2017
- TomoChain design
- Whitepaper version 1.0
- TomoChain's testnet
- Q1 2018
- Wallet alpha
- Block explorer alpha
- TomoChain ICO completed
- Q2 2018
- TomoChain with PoA + Voting (alpha)
- Governance DApp (alpha) with basic voting
- Block Explorer (beta) for testnet
- Masternode PoS design (wp published)
- Q3 2018
- PoS + Voting (beta) / Masternode PoS (alpha)
- Block Explorer (stable), support ERC-20
- Governance DApp, masternode monitoring view
- Q4 2018
- Mainnet launch
- Sharding technical design WP
- TomoX technical design WP
- Year 2019 and beyond
- TomoX implementation - Mainnet 2.0
- ICO template
- Sharding, Privacy, Sidechain research
- Multi-chains asset transfer
- Fee by any token protocol
- Governance proposals
Long Vuong, Founder & CEO. CEO of TomoChain and TomoChain Project Lead, co-founder and the former project lead of very successful NEM blockchain (New Economy Movement). PhD candidate in economics, Massachusetts, U.S. Linkedin.
Le Ho, Co-founder & CFO. A CFA charterholder with 10+ years experience in investment and finance. Former Senior Investment Manager at BVIM. Former Director of Investment Banking Division at HSC securities company. Linkedin.
Kyn Chaturvedi, CBDO. Responsible for TomoChain's go-to-market strategy, Kyn brings a broad level of tech startup expertise in business development, marketing, and product development. He holds an MBA from the Wharton School of Business and dual B.S. degrees in Industrial Engineering & Economics from Georgia Tech. Linkedin.
Son Nguyen, Co-founder & CTO. Son is an experienced and accomplished technical leader, former Director of Engineering, founder of the Blockchain Developer group with more than 800 active members. Master degree in Engineering. Linkedin.
Tung Hoang, Co-founder & PM. Tung is the Product Manager of Tomo Wallet. He is also an experienced FullStack Developer & Smart Contract Developer. Linkedin.
Nguyen Bui, Director of Partnership. 12-year experience in Finance and Marketing. MBA Degree in Nanyang Technological University, Singapore. Former Business Leader at Infinity Blockchain Labs. Linkedin.
Jordan Kang, Lead BD Manager. Former commodities trader at Toyota Tsusho. Jordan has spearheaded business development across various regions during his time at Toyota, and is no stranger to dealing with businesses across different cultures. Linkedin.
Tu Nguyen, Lead Blockchain Engineer. Seasoned engineer working in Blockchain and Cloud Computing. Authorized Developer of Apache Software Foundation, Cloud Native Computing Foundation. Lead engineer of multiple cloud computing open-source softwares (kubeless, kubeapps, kompose, kubewatch). Master degree in Distributed Systems, Switzerland. Linkedin.
Roger Lim, Advisor. General Partner at NEO Global Capital. Director of the Qlink Foundation. Advisor for Bluzelle, SelfKey, The Key, Coinfi, Fortuna Capital, Jet8. An experienced blockchain investor, and a successful entrepreneur who founded and grew WebVision, a cloud hosting company. Linkedin.
Thuc Vu, Advisor. CEO and co-founder of Kambria and OhmniLabs. CEO and co-founder of Kambria and OhmniLabs. Founded Katango and Tappy which were acquired by Google and Weeby.co, respectively. PhD from Stanford and BS from Carnegie Mellon, both in computer science. Linkedin.
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