Tomocoin ICO— The (Decentralized) Social Network & Much More
In the last couple of years Facebook’s influence has been surging, and that’s dangerous when that influence is centralized. We’ve seen how the platform could be used to influence the results of the elections of the world’s strongest superpower, and how algorithmic bias is applied to control and filter what is shown to the user. Manufactured opinion, is what Facebook is capable of.
Bitcoin and cryptocurrencies have now provided the means of taking back that influence and power from centralized organization and decentralize them. Looking at the ICO space we can see many companies touting themselves as the next decentralized [Input whatever giant company here], which is a great thing at hindsight, as it comes to show that people are working hard to take power back to the people. However, most of these companies raising ICOs will fail, for many reasons. First and foremost, they lack a product, and second, even if they do have a product, they wouldn’t be able to scale it, as scalability remains the biggest issues facing blockchain-based networks.
In comes Tomocoin.
Tomocoin helps address the scalability issue faced in ethereum by introducing and using sidechains pegged with ethereum, similart to Ardor. This introduction will bring the much needed oxygen that decentralized platforms built on top of ethereum need to scale. Which is exactly what any startups seeking to create a decentralized social media platform needs in the first place. Thankfully, there is already a Tomoapp that is in beta already today, providing Tomocoin with a proof-of-concept (cant say that about most projects in the space).
The Tomoapp is a lot similar to Steemit in the sense that content contributors are rewarded. In other words, there is a built-in network effect. However, Tomoapp takes it a step further by introducing accessibility to experts as well as celebrities which can be paid for using Tomocoin. Users are free to ask questions and experts can respond back in video, as a next-generation Quora. An interesting feature that has been highlighted is that users are able to participate in the Tomoapp as either public or anonymous, which a first and an innovation in this space.
What’s most interesting about this platform is that it’s actually been developed such that users in emerging markets such as Vietnam and SEA can actually view heavy-media from the get-go. This feature alone makes Tomoapp much more disruptive, as Facebook and google have struggling to make their platforms accessible.
The excitement doesn’t stop here. Tomocoin will also have it’s own wallet, which is already in demo, with 2 second confirmation and zero fees. What’s most interesting that this wallet coupled with the social network embedded in the Tomo App will open up synergies and fast usage.
Another reason why I am bullish on this coin is the A team working on it. We have Long Vuong who was a project lead at NEM, as the CEO, as well as the fact that the market cap on this project totaling $8.5 million. Given the fact that this project addresses a fundamental and protocol layer in the cryptospace, its a great investment.