Overview

At the moment, scaling the available blockchain networks to support mass adoption remains one of the significant hurdles in the blockchain ecosystem. And, solutions are not coming fast enough, which is frustrating because there isn’t a scientific method of determining the limits of the various platforms.

The ability to perform as many transactions as possible within a given time is among the factors that will help cryptocurrencies achieve mass adoption. Right now, the Ethereum network, for instance, only manages a paltry 15 transactions every second, which is child play considering that Visa can reach an incredible 45,000 operations within the same time frame.

These figures paint a depressing picture, especially considering that Ethereum caries the tag of the most scalable blockchain network. Instead, the statistics almost hint at underperforming smart contracts. However, the Tomo Network may just have the cure to this chronic malaise that is threatening to keep away the gains that the blockchain technology promises.

Through the combination of the TomoChain, TomoApp, and TomoWallet, which collectively make the Tomo Network, the platform promises to improve scalability and interoperability, two significant challenges hindering mass adoption of cryptocurrencies at the moment.

Why is full scalability so hard to attain?

Ethereum and Bitcoin, and virtually all blockchain networks that naturally apply the combination of incentives and technical methods to ensure security and accuracy, face a problem of striking a perfect balance of these incentives and methods while growing the number of users. Ideally, this growth should allow an ordinary user to perform daily life activities such as ordering coffee or playing computer games.

Nevertheless, it is these standard applications that have presented the most significant challenges this far. Take the case of Etheremon, for instance; upon release in Q4 of 2017, this game that allows players to capture monsters and morph them into a battle team quickly, gained a foothold of the gaming world in the crypto ecosystem. The popularity was such that in just about 24 hours, the game’s network already had almost 20,000 transactions. These numbers may not seem much, but that number of operations clogged the Ethereum network.

During Etheremon’s short lap of fame in the Ethereum blockchain, the cost of transactions also skyrocketed. And, while cryptocurrencies are synonymous with volatility, such fluxes in transaction costs move them even further from shifting into technologies that can solve day-to-day issues from their current status as speculative assets.

How will the Tomo Network improve the situation?

TomoChain proposes a network of chains that can support both token issuance and decentralized applications (dApps) and envisions using scaling the possibilities that smart contracts offer to provide instant transaction confirmations at near-nil fees.

To attain this lofty vision, TomoChain proposes to adopt horizontal scaling, which entails proving a second, better-performing layer of blockchain that, fused to the Ethereum blockchain, will allow for atomic cross-chain transfers.
The ecosystem built as a result will enhance easy deployment of dApps and in the long run, it will make the Ethereum platform operate faster while making the TomoChain attractive by the domino effect.

The Tomo Network shall comprise of the central platform, TomoChain, which shall provide the essential infrastructure that facilitates all the upscaling and interoperability solutions. However, the network shall also avail an app, TomoApp, and a wallet, TomoWallet. The former shall act as a convergence of knowledge and allow users to generate content and share these with friends and followers. Moreover, the application shall create conduits that users can utilize to ask for information from experts. And, the aid experts shall be able to build a following and share information with their fan base.

What makes the Tomo Network different?

The TomoChain is by no means the only scalability solution in the blockchain ecosystem. The Ethereum in-house development team is exploring solutions through Plasma while another project, the Raiden Network, is also working on similar solutions.

These three differ on their approach. The Raiden Network, for instance, concentrates more on taking the bulk of the transactions that clog the network off-chain while still enhancing trust among the transacting parties. Plasma, on the other hand, hopes to change Ethereum from within. The developers suggest that Plasma uses economic rewards to replace the central server farms and unchain the network in the process.

These solutions are great, and while their answers hope to solve many underlying issues affecting the blockchain ecosystem, none of them explicitly mentions how to tackle the cost of transactions. This situation is somewhat weird considering that price is one of the leading issues why the blockchain was invented in the first place. In this regard, the TomoChain stands out, mainly because it will not only scale up the Ethereum platform, but it will also increase the speed of mining while reducing the overall costs of undertaking transaction.

Other Solutions (Interoperability)

The Raiden Network and Plasma are working on solutions that will scale Ethereum. However, other blockchain solutions seek to improve interoperability. These are Wanchain, ICON, and AION.

AION proposes to become the universal protocol that blockchains apply to create a conduit between them; the same proposal that ICON wants to implement. ICON, however, hopes to do this without involving an intermediary. Wanchain, on the other hand, wants to create a distributed platform that works a little like the Tomo Network by enabling adoption of smart contracts over a private cross-blockchain network.

Conclusion

It is evident from this narrative that a lot is happening in the blockchain environment to solve the problems currently plaguing the technology. However, all these developments fall short of the perceived achievement that the Tomo Network could achieve at maturity. The network is especially attractive because the technology is comprehensive, and the brains behind it have the requisite skills, experience and drive to see the project through.

Website: www.tomocoin.io

Telegram: https://t.me/tomocoin

Code: d6209c