Tomochain is a blockchain platform that hosts smart contracts and will support for decentralized applications to be developed utilizing the Tomochain system. The Tomo application will be the first consumer application created on the Tomo blockchain. It will be a decentralized social network that utilizes the Tomocoin as a native cryptocurrency. Tomocoin will be an ERC20 token dispensed on the Ethereum blockchain, which will run through the native Tomochain blockchain using smart contracts.
The white paper references scalability as one of the most notable issues challenging current generation blockchains. The Tomochain ecosystem intends to be extremely scalable and has negligible transaction charges. It is not completely clear what other difficulties Tomocoin is solving that haven’t already been looked at by competitors for decentralized social networks.
Tomochain has been in progress since early 2017. In Q2 2018, Tomocoin is to be integrated into Tomochain and in Q3 the Tomo app and Tomo wallet are to be issued.
50% of Tomocoins are to be marketed in the token sale. 15% operates to the team and advisers and vests over a four-year term. The last 35% will be applied to incentivize market and the community. In order to join in the crowd sale, investors were obliged to submit a proof-of-caring application. As part of the data, community users had to do something to help Tomocoin, such as a blog page.
Tomocoin has a comparable function to Ether. It will be used to distribute tokens on the Tomochain as well as a system of value to perform transactions. It is unclear if it requires paying for transactions, as the team has shown that these will be virtually free.
The Team Behind Tomochain’s Development
The present Tomocoin team is composed of four people. The most distinguished member of the team is Long Vuong, who was a co-founder of the NEM blockchain. Notable advisors involve members of the Bee Token team, Qlink, and Devery.
Tomocoin has over 18,000 members in its Telegram channel. Recognizing this is a project that has performed no marketing, that is an outstanding number.
The white paper gives a competitive review of aggressive projects.
Kin is to be the native cryptocurrency of the Kik instant messaging platform. The Tomocoin whitepaper claims that the Kin ecosystem will be transferred to Stellar, while Tomocoin will continue on the Ethereum platform.
The Steem platform is a social content network that the Tomocoin whitepaper acknowledges is pretty comparable. However, they denote out that the Tomo platform will have extra video content and will center in Asia.
The platform competitors require being singled out. While Tomocoin appears to be complementing Ether, there are other platforms to regard as well, such as EOS, and Cardano among others.
Like Zilliqa, this is a design that has a dominant tech team but one that lacks in marketing skills. However strong the product, it will not work out without marketing and business improvement. After achieving their crowdsale, the Tomocoin team should prioritize contracting on the business aspect.
Tomochain seems to be the coin to rule a decentralized social network. On the other hand, it seems to be a new blockchain platform that intends to resolve Ethereum’s insufficiencies.
Short Term – The short-term potential of Tomocoin is excellent. The project has a small cap and is a blockchain platform project, which has historically delivered extremely well.
Long-Term – The long-term potential of the project is less clear. There is a considerable amount of competition, and the basis for this project is not clear. The Tomochain ecosystem requires the funding of the other blockchain programs and lacks the name recognition. It will be hard to stand out.
The token economics and short-term potential of Tomocoin are exceptional. It is a great flip, but less of a strong long-term hold provided the competitors and lack of project focus. Although, any project that aspires to solve scalability concerns has the potential to be a winner, and investors should sincerely consider Tomocoin.