Review on TomoChain by Fanuel PORPORTY
The potential of the TomoChain blockchain
TomoChain is a blockchain that wants to solve the scalability problems encountered by other blockchains, like EthereumTo solve this problem, TOMO wants to authorize a number of transactions per second which will ultimately be greater than what VISA allows (between 10 and 20,000 transactions per second). TomoChain has already tested it by making more than 2,000 transactions per second using a new transaction verification system called Proof of Stake Voting (PoSV). We are still far from beating VISA, but it remains 100 times faster than Ethereum.
The project developers have huge ambitions for the project and if these come to fruition, then TOMO could become one of the most interesting blockchains on the market. Here are some goals that TomoChain would like to achieve:
- Almost immediate confirmations for transactions (2 seconds)
- Transaction fees close to 0
- An innovative smart contract system that would make it the best solution for decentralized applications, the creation and distribution of tokens, the implementation a token system for small and large businesses
Pros
- Speed of transactions (2 seconds)
- Possibility of making many transactions per second with the long term desire to have a system supporting more transactions than VISA
- Good distribution of tokens by entrusting only 15% to the team
- PoSV (Proof of Stake Voting) system with double verification of transactions
- Only the best 150 masternodes will be able to operate through a voting system. This will ensure that only the most efficient masternodes will work
- Fair distribution of rewards between masternodes and people who voted for them
- Ability to run Dapps on the network
- The programming language is the same as that of Ethereum: Solidity. Therefore, what works on ETH can work on TOMO
- Will to make TomoChain compatible with other blockchains using another programming language
- Partnership with a country: Vietnam
Cons
- There are already an enormous number of projects concerning the interoperability of blockchains, some of which are already functional and others with well advanced development.
- The project has fallen behind on its roadmap
- Even if it will only happen in 8 years, the team still does not know how to reward its minors after this period
