Tomochain is a 3rd generation blockchain platform project that looks very promising. In this brief post I will go over the reasons why I believe this will be an exciting promising project that I would like to invest in.
Overview
Many blockchain solutions such as Ethereum and Bitcoin have had some harsh growing pains as they try to scale up to handle the large influx of new users. The reason for this is that the fundamental blockchain system that they are built on was not intended to handle such a large number of users. Thus, there is a need for a new generation of blockchain systems that can actually handle the scale well. Tomochain is one such solution. The testnet has already proven that it can handle 1000 transactions per second.
This is orders of magnitude better than vanilla Bitcoin or Ethereum. Being that Tomochain is a platform like Etherium, distributed apps can run on it, and it can also have ICO's.
Impressive Stats
- 2 second confirmations
- Free transactions
- $8.5 million hard cap
- CEO was project lead of NEM, a very successful blockchain project
- One of the first implementations of proof of authority
OhHeyMatty did a very detailed video AMA with the CEO Long Vuong that I definitely recommend taking a look at. From this video you can start to get a feel for the scale of the project and the team's approach to solve historical blockchain issues.
The team is also creating the first app that will run on Tomochain, it is known as Tomo App. TomoApp is a social network that runs on the blockchain. Tomo App will have a native token that will be used to reward content contributors who produce valuable content for their communities. This setup has many similarities to steemit, which has a blockchain, and a blogging platform that uses tokens to reward quality content. Taking a quick look at coinmarketcap shows us that the market cap of Steem is over $1 billion. If this is any indication of where Tomochain might go, then we better strap in for the moon mission.
It will be exciting to see where this project goes in the future. With such a strong team, including the former project lead of NEM, I believe they can pull it off.
The ICO starts in march, with a whitelist period occuring some time soon. I will be keeping an eye on this one and will try to get in on it.
Disclaimer: This is my opinion and not investment advice. Do your own research.
~c5F143