Tomocoin — ICO review
Building the blockchain infrastructure for decentralized applications, token issuance and integration
The mission is to be a leader in building the Internet of Value, designing its infrastructure and create a more secure, transparent, efficient, inclusive and equitable alternative financial system everyone.
Three components; Tomochain, tomoapp and tomowallet form the tomocoin infrastructure. Fig. 1 illustartes the tomocoin infrastructure.
Tomochain is an innovative solution to the scalability problem with the Ethereum blockchain. Tomochain plans to support horizontal scaling via adding more second layer blockchains with good performance integrated with Ethereum for backup and atomic cross-chain transfer. Tomochain is envisioned to be a network of chains that supports instant confirmation, and near zero transaction fee which will be an ideal solution for decentralized apps, token issuances and token integrations for small and big businesses. Tomochain is built based on;
• POA consensus based on Ethereum codebase
• 2 second confirmation and zero transaction fee for transactions
• Support all Ethereum smart contracts
• Testnet is on MyEtherWallet (which can be accessed here, https://stats.tomocoin.io/)
A secure and user-friendly coin wallet that gives financial control back to the end-users is one of the most important parts of the infrastructure of the “Internet of Value”. Tomocoin wants to invest in building such a wallet, firstly to host Tomocoin and Ethereum and later multiple other cryptographic tokens and currencies. Further, Tomowallet is built based on;
• Demo zero fee atomic cross chain transactions (between Ethereum and Tomochain back and forth).
• Demo sending transaction within Tomochain with zero fee and fast confirmation.
• Demo mining, cashing in and cashing out features based on smart contracts.
Tomowallet can be accessed here; https://wallet.tomocoin.io/
This Tomo application will be the flagship consumer application within the Tomo network. The beta version is free download at the Apple App Store and Google Play Store.
The team (see Fig. 2) is lead by Long Vuong, a co-founder of NEM, a top 10 decentralized projects (#10 currently). TomoApp is lead by Son Nguyen, an active member in blockchain technology. You can access his github (https://github.com/thanhson1085) and see his contributions. The team also consists of very capable members as well. LinkedIn profiles of all the team members are available on website (https://www.tomocoin.io/).
There are many outstanding blockchain experts in the advisory team (see Fig. 3). The advisory team includes Roger Lim, probably the best blockchain expert in Asian Pacific region and the Director of Qlink Foundation. The team also includes blockchain experts such as Hoang Nguyen, a co-founder and VP of R&D at WeTrust.io, which is advised by Founder of Ethereum, Vitalik Buterinn; Min Kim from the The Bee Token, Antoine C. Najjarin from Devery.io, etc. The full team is accessed here (https://www.tomocoin.io/).
Partners and Investors
There are many partners working with Tomocoin. If you are familiar with the blockchain projects, you don’t need to look beyond NEO, which also works with Tomocoin. You can see the full list on Fig. 4.
The project is trying to solve a issue which is already a big issue for Ethereum, so if this project becomes successful, this will have a bright future. Tomocoin already has built much compared to many ICOs, and also lead by an expert from a huge successful blockchain project, NEM. The project is advised and invested by many outstanding blockchain experts.
With such a huge potential, this project is looking to raise only $8.5m, which is definitely a steal if you could get at early stages, not necessarily at ICO stage, but also when it hits exchanges.
[Note: I’m from a civil engineering background, so apologise me for my lack of knowledge on blockchain technology].
Eth last 6 digits: d0cF93