TOMO is the native asset of TomoChain, an EVM-compatible protocol with fast transaction confirmation and low network fees. The protocol uses Proof of Stake Voting (PoSV) to facilitate near-zero transaction fees with 2-second transaction confirmation. The digital asset has a fixed supply of 100 million tokens. A portion of the fixed supply is retained by the projects to fund its reward engine and ecosystem development.
TomoChain aims to be the go-to platform for dApp developers, token issuers, and integration with retail merchants. As well as an innovative solution to the scalability challenges faced by developers of the Ethereum blockchain. The project plans to support second-layer scaling solutions that will provide backup and enable atomic cross-chain transfers. The TomoChain team also plans to build additional features that include proof-of-authority consensus based on Ethereum codebase, a masternode and servicenode systems, support for all Etereum smart contracts, API support for token issuance and integration, zero-fee atomic cross-chain transfers, and the TomoWallet.
The TomoWallet enables users to use multiple addresses from different blockchains. TomoWallet private keys are encrypted with a passphrase and securely stored in the client and server. The wallets feature set includes, encrypted asset storage, ability to send and receive digital currency, and APIs for third party bots and applications. TomoChain’s proof-of-authority consensus chooses node validators based on collaboration between participants of the network.