Tomochain Ama Recap with CryptoCaBital

CryptoCaBital hosted TomoChain’s Founder and CEO Long Vuong who has joined the group to answer numerous interesting questions in our LIVE AMA event.

TomoChain is just celebrating its 1-year Mainnet anniversary, so this seemed like a perfect time for us to get them over in our group for a special AMA event.

We covered lots of interesting topics and made a summary for all that were not able to attend the interview or anyone who just want to go through the content again.

For further discussions you can meet us here:

Telegram: https://t.me/CryptoCaBital_InternationalChat

Discord: https://t.me/CryptocaBital_DiscordProjects

If you are interested to learn more about the TomoChain project you can read CryptoCaBital’s in-depth review.

TomoChain is an innovative solution to the scalability problem with the Ethereum blockchain in particular and with all current blockchain network in general. The network of chains that supports instant confirmation, near-zero transaction fee, and smart contracts which will be an ideal solution for decentralized apps, token issuances and token integrations for small and big businesses alike. https://tomochain.com/

Q1 from CryptoCaBital: Long could you please introduce yourself, tell us a bit about TomoChain in a few sentences? How did it all start?

Long: My name is Long Vuong, I am CEO of TomoChain Pte. Ltd. which is the founding team behind the TomoChain public chain. In short, TomoChain is a decentralized public blockchain like Bitcoin and Ethereum. The goal of the network is to enable a new Internet native financial system that is more secure, transparent, efficient, inclusive and equitable. We started working on the initial idea of TomoChain in early 2017, and the mainnet finally launched in December 2018.

Q2 from CryptoCaBital: Why would anybody want to use TomoChain? What makes Tomo different from your competition?

Long: TomoChain is unique in these areas:

- Well-functioning public blockchain with PoSV consensus, Masternode system and slashing mechanism in place. 150 Masternodes and thousands of stakers live securing the network at any given moment.

- Very fast chain with 2-second block time and reach up to 2000 TPS

- Unique TomoZ ‘zero friction’ protocol that enables paying tx fees with the token

- TomoX and TomoX-SDK for building multiple decentralized exchanges with a shared liquidity pool.

- TomoP — private transfer protocol in development.

- Furthermore, I think TomoChain has one of the strongest communities in the space.

Q3 from @letoutou on Telegram: TomoChain has recently partnered with NEO. Can you tell us a bit more? What do you expect from that partnership?
Long:
We wrote about the NEO partnership in the most recent announcement.

“The two parties will enhance ecosystem development through a series of events designed to educate and encourage developers to build dApps on both TomoChain and Neo. Leveraging their respective technological and regional expertise, both parties will support developers in building, localizing, and accessing distribution channels with the aim of connecting them with end-users.

Through this partnership, TomoChain and Neo are helping address a long-standing issue — developers having to act as both builders and distributors. By bringing together their respective strengths, the two parties aim to grow a healthy ecosystem of technical talent that identifies blockchain as a high potential industry while supporting quality projects across both blockchain platforms.

Blockchain is still an immature technology with a largely nascent market. However, as a recipe for success starts to emerge, Neo and TomoChain aim to integrate blockchain into everyday life by attracting not only users but also talented developers to build a more diverse decentralized ecosystem.”

I expect more people in China know about TomoChain and fruitful collaboration between two parties.

Q4 from @villaincrypto on Telegram: Can you elaborate a little about what TomoChain is organizing in 2020 marketing-wise? How are you planning to get more customers/programmers familiar with your project and convince them to use it?
Long:
We focus on building interesting and useful products that serve the needs of end-users. We also focus on educating people about the strength and the benefits of using TomoChain. That’s a fundamental strategy. We will also have special tactics but it is case by case. I wrote a New Year Letter to the community to elaborate on key initiatives in 2020.

Q5 from TomoFan @Mickey0555 on Telegram: When compared with other blockchain technology solutions, what advantage does $TomoChain have? Who do you think the competitors for $TomoChain in the Blockchain industry? What is the next milestone you are very excited about TomoChain?

Long: Hi I think I mentioned above that TomoChain is unique in these areas:

- Well-functioning public blockchain with PoSV consensus, Masternode system and slashing mechanism in place. 150 Masternodes and thousands of stakers live securing the network at any given moment.

- Very fast chain with 2-second block time and reach up to 2000 TPS

- Unique TomoZ ‘zero friction’ protocol that enables paying tx fees with the token

- TomoX and TomoX-SDK for building multiple decentralized exchanges with a shared liquidity pool.

- TomoP — private transfer protocol in development.

- Furthermore, I think TomoChain has one of the strongest communities in the space.

Q6 from @Ronalddddd on Telegram: I am one of those who are testing the TomoX Dex, and I think that it is nearly perfect, my question is, when will you implement the changes and when will you release the final wallet without the testnet?

Long: The TomoX and TomoX SDK will launch in a few months, tentatively in March-April. There will be more improvements and some new features when it launches.TomoX testnet was just recently launched.
https://tomochain.com/tomox

Q7 from @KryptoKarlsson on Twitter: What is the main benefit of another stable coin in the TomoChain ecosystem, since there is already Constant, pegged to USD? There were mentions about TomoUSD, is there any further development from the team or are you waiting for external parties or community initiatives?

Long: It would be interesting if we have a popular stable coin using the TRC21 standard. Right now, the constant is using TRC20 and not very popular. Stablecoin is important for many financial services like P2P lending. We are looking at different options for launching TomoUSD.

Q8 from @hjmg0 on Telegram: What is the use case of TOMO airdrops POMO and TOMOCASH, have there any use in TOMO Mainnet?
Long:
There are tokens issued by the community. I have no special knowledge of how to use them.

Q9 from CryptoCaBital: TomoX — Build DEXs the Smart Way
This is a way for people to launch their own Dex is that correct Long?

Long: Yes, using TomoX-SDK.

Q10 from TomoFan @chainaddict on Telegram: You have come a long way since the beginning and the launch of the Mainnet 1 year ago. You are covering a lot of different areas. What area is your main focus going into 2020?

Long: It is best to read my New Year article. I cover all the main things there.

Q11 from TomoFan @Mickey0555 on Telegram: What is your progressive plan to ensure that the $Tomochain project Network remains relevant & valuable in the next 5 years, in terms of adoption and use-cases?

Long: There is no big secret plan to be honest. The main thing is working hard every day, and solve problems. The network should be supported by the decentralized community as well. TomoChain does have a lot of unique things to be sustainable over the long term.

Q12 from @stoploss88 on Twitter: In the crypto field, it’s very hard for projects to generate revenue/profits, some projects have a 10% dev share (10% from transaction fees taken by the project), can you explain to us in what way that TOMO creates revenue/profits?

Long: I explained how it works in my New Year article. You should read my new year article.

In short, TomoChain Pte. Ltd. is a technology company with multiple streams of revenues that is also sustainable and can support the decentralized network over the long term.

Q13 from TomoFan @kunlefighter on Telegram: On your website, you talked about staking as a voter to earn passive income. What is the minimum amount required for staking on TomoChain? and what are the criteria required to participate successfully for the staking program probably if there is a need for us to complete a KYC or any form of further screening?

Long: Check out the staking website. You need a minimum of 100 TOMO to start staking. It is a decentralized network, and no one is KYC anyone.
Check out this page as well. All the things about staking is there-
tomo-staking.

Q14 from TomoFan @Mickey0555 on Telegram: I strongly believe that Tomo-X will be a big achievement of Tomo when it is launched. So, could you share with me about liquidity and security on TomoX?

Long: You should consult our TomoX’s white paper which explains the design of TomoX in depth. We solve both liquidity and security problems using Masternode-relayer architecture. No blockchain has something like TomoX in operation and in my view, TomoX and its relayers network will be a very important part of decentralized exchange space.

Q15 from TomoFan @Mickey0555 on Telegram: While I see most blockchain projects come out with hotshot keywords claiming to be different from rest in the space and minimal product, where do you see your product actually being used by the community and solving the real-world problem?
Long:
TomoZ is used by several projects already. TomoX will be used by a lot of people. TOMO is owned and staked by thousands of people and TomoP will bring privacy to Internet transactions. There are solving real-world problems.

Q16 from TomoFan @kunlefighter on Telegram: What is the difference between the TomoX SDK and Tomo Relayer and what functions do they perform?

Long: Relayer is a DEX. TomoX-SDK is a software suite that allows you to build a relayer fast.

Q17 from @endtimeprophet on Telegram: Explain more about your MASTERNODE RELAYER APPLICATION, how robust is it and do you consider it as the long term solution to the issues of security and liquidity?

Can you share about your present and future partnerships that will drive you to more success in this highly congested crypto space?

Long: 1) Parts of the answers are above as it is really about TomoX’s design; 2) We don’t share a partnership plan until it is finalized and signed.

Q18 from @Agz18 on Telegram: TomoChain Allows users to Create their own DEX (Decentralized Exchange )! But, I have a question that, Isn’t Providing DEX Service to everyone Creates Competitors to TomoDEX? So, question is — Why you give permission to create DEX Instead of Providing API Trading?

Long: TomoX and TomoX-SDK are for projects to build exchanges. They are not for traders. Hence, no trading API. Each DEX can have its own trading API.

Created and posted by CryptoCabital

You can join the TomoChain community channels and learn more about them:

Telegram https://t.me/tomochain
Twitter https://twitter.com/TomoChainANN
Medium https://medium.com/tomochain

We are a group of investors, looking for great and innovative projects.