What is TomoChain (TOMO)? How To Buy TOMO Tokens In India?

What is TomoChain (TOMO)?

As termed by Vitalik Brutien, Ethereum founder, blockchain faces three challenges in creation, referred to as blockchain trilemma. It comprises either scalability, security, or decentralization. While Ethereum offers security and decentralization, it trades off-network scalability. TomoChain is an EMV-compatible decentralized blockchain network offering a highly scalable and secure platform for building smart contacts, dApps, token issuances, etc. It facilitates devs and users with low-cost, high-speed transactions secured through randomization and double-validation security mechanisms.

TOMO is a native governance coin of TomoChain with a fixed supply and non-inflationary token design. TOMO is used as a reserve for third-party apps running on the network to incentivize participants in governance and building networks for funding TomoChain ecosystem development.

Who are the Founders of TomoChain?

TomoChain was founded by Long Vuong along with Le Ho and Son Nguyen in 2018. Long has extensive experience in blockchain and economics. In the past, he has served as CEO of CityMe, co-founder of NEM blockchain, and provided advisory services for various blockchain projects. Le Ho has been involved in the finance sector, having previously worked as an investment manager at BIDV Vietnam and as Director of the investment banking division at Ho Chi Minh city securities corporation.

How does TomoChain work?

Tomochain network is powered by Proof-of-Stake Voting (PoSV) consensus protocol. Its blockchain is continuously built by a set of master nodes that produce blocks and maintain a copy of the blockchain. Masternodes are full nodes selected through a voting system that can produce and validate blocks. Anyone can become a master node by depositing 50000 TOMO tokens into smart voting contracts to receive rewards in TOMO for verifying blocks. Tomochain also tracks the performance of masternodes to ensure network performance and health. Furthermore, Block creation and validation are done by two different masternodes for Double Validation to enhance transaction and blockchain security.

What makes TOMO Unique-Use Cases?

• It offers users a fast transaction speed of 2000 TPS with 2 second confirmation time.
• The Tomochain ecosystem comprises various web3 applications, including TomoWallet, TomoMaster staking platform, TomoMasterDAO for governance, TomoBridge, LuaSwap, and many more.
• Its network architecture is designed for easy adoption by enterprises, providing user-friendly blockchain-based business solutions.
• TOMO holders can stake their coins to participate in voting or become master nodes to earn incentives.
• TomoMasterDAO rules out network changes and governance of project treasury, offering transparency and power to users.

TomoChain (TOMO) Price Analysis

Source: TradingView

• TOMO’s price has displayed an uptrend since the breakout from its consolidated range in March 2023.
• It has continuously surpassed the resistance level and touched a YTD high of $2.17 last week.
• TOMO’s price is currently trading at $1.33, with a market cap residing at $133,725,010. If the price maintains its bullish sentiment, it might soon reach $2.

How to Buy TOMO Coin in India?

To buy TOMO Coin in India, just follow the below-mentioned steps:

• Download the CoinDCX App through the app store on your Smartphone
• Enter the details required for registration
• Complete your KYC
• After your profile is verified, deposit funds in your wallet and buy a TOMO coin.