A New and Improved Blockchain for DApps and Smart Contracts
- ICO Platform: Ethereum
- Industry: Smart Contract, DApps
- Price: $0.25 during ICO
- Bonus: 25% (during pre-sale)
- Soft Cap: N/A
- Hard Cap: $8.5 million
- Number of Tokens: 100 million TMC
- Website: https://www.tomocoin.io/
- White paper: https://goo.gl/D6qgvS
The blockchain has a scalability problem. With more people getting interested in—and actively using—cryptocurrencies, the ability to handle a large number of transactions per second may be a defining feature as to whether or not a crypto platform will survive in a market that is growing more competitive by the day.
For platforms that facilitate the creation of DApps and smart contracts along with token integration, time is running out even faster. If your platform is struggling to handle its own transactions hitch-free, how will you attract other developers and their tokens? How will you convince them to build their smart contracts on your platform?
This is the problem facing the Ethereum blockchain at the moment; their platform is too slow and too costly to ensure continued adoption. While they work to find a lasting solution to their scalability problem, a prospective competitor is offering them a reprieve.
The Proposed Solution
For now, Tomochain plan to be a second-layer blockchain that optimises the performance, efficiency, and functionality of the Ethereum network.
Tomochain aim to provide developers with a network that will assure instant transactions at near-zero fees. Their network is to be integrated with the Ethereum blockchain, giving Ethereum the scalability it needs, and developers, a platform to build DApps and smart contracts (and issue tokens).
With Tomochain, developers can enjoy all the advantages of the Ethereum blockchain and avoid its scalability problems. Tomocoin will be the governing currency on Tomochain, and the stronger the product gets, the more valuable the token will become.
The Tomocoin team is led by founder, Long Vuong. Vuong was co-founder and former project lead of the successful NEM project and is very well-known in crypto circles. He is joined on the team by CTO, Son Nguyen. Nguyen has a Master’s Degree in Engineering and is the founder of the Blockchain Developer Group; a group that has 800+ active developers. They are joined on the team by other professional developers.
The Tomochain team also have notable blockchain experts and business managers as advisors.
They already have alpha versions out for 3 of their proposed products. This is evidence that the team is, at least, capable.
For now, Tomochain will serve as a complementary network to the Ethereum blockchain. While this is quite restrictive, it’s not all bad; Ethereum is the second biggest cryptocurrency platform in the world with a market cap of over $95 billion, according to CoinMarketCap.
Tomochain will not find a better platform than this to launch their product, and millions of people will get to see how effective and viable their network is. When they finally decide to break away from Ethereum, they will be a direct competitor for the ~18% of the crypto market segment that Ethereum holds.
Tomocoin pre-sale has already ended and they plan to launch their ICO on the 1st of March 2018. The official release of the product is also billed for the 4th quarter of 2018.
They already have a live testnet, along with a mobile app—TomoApp—that works on Android and iOS. They also have a demo wallet—TomoWallet—and it allows users transfer tokens between chains.
- They have already released live versions of some products. Few things inspire confidence than a startup that shows viability.
- By launching their product as a complementary part of Ethereum, Tomochain catapulted their company to a notable position in the smart contract and DApp development market.
- They have a team leader, Long Vuong, who has been through a lot of the process before (with NEM); this is always an advantage.
- Ethereum is already working on a solution for their scalability problem. If they find one before Tomochain launches, that may spell doom for the company.
- When they eventually join the smart contract development market, they will still be met with stiff competition from more-established platforms.
- By solving a major problem on the Ethereum blockchain and making the platform more efficient, Tomochain stand to benefit from all the projects that want to build DApps on Ethereum.
- With such a popular platform showcasing their network, they also have the opportunity to attract potential investors and businesses.
- Even if Ethereum doesn’t find a lasting solution to its scalability problem before Tomochain launches, it will eventually, and Tomochain will have to start over as an independent platform.
In conclusion, Tomochain offers a product that the market really needs and are in partnership with an established platform; a platform that everyone knows, and to an extent, trust. This makes Tomocoin an interesting token to invest in; the stronger Tomochain gets, the more valuable TMC becomes. However, as a prospective investor, you will be smart to take note of how quickly Tomochain’s strengths may turn to weaknesses.
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Disclaimer: The information contained herein is not intended to be a source of advice and the information and/or documents contained in this website do not constitute investment advice.