Early cryptocurrencies’ historical scalability issues created opportunities for many possible improvements. The fundamental issue was the dicey challenge of providing more throughput without compromising decentralisation. Solutions like TomoChain (TOMO) emerged to fill the gap. And its token TOMO is supported at BC.Game. Scalability is a deal-breaker for blockchain commerce. It has a direct effect on transaction processing speeds and costs. If this industry offered better efficiency than centralised fiat, there had to be scalability improvement. Ethereum could only process about 15 transactions per second, which was not sustainable as millions began to use the network.
About TomoChain
TomoChain is based on Ethereum’s code. It was launched to solve scalability issues for many blockchains. It provides vastly better Transactions per Second (TPS) that can compete favourably with existing payment processing powerhouses. The key to high performance is solving interoperability issues and eliminating scalability-related problems, such as lengthy transaction validation and high gas fees. Early blockchains had limited interoperability. This quality refers to the ability of a blockchain to link and communicate with other blockchains. Cross-chain interaction is vital in this era because blockchains need to work at scale, reducing on-chain fees. Today’s essential aspect of blockchain commerce is working seamlessly and moving data and assets across chains.
Scaling through Sharding
The network achieves such utility by sharding and stake voting. Sharding means that a blockchain utilises a database partitioning technique to process more transactions each second. Accordingly, the database can spread over more machines and ensures that each time the system needs to process data, it picks it from several databases avoiding overload. Such utility improves output by increasing transactions per second, thereby reducing transaction fees. TomoChain aims for up to 20,000 TPS once its sharding is in full swing. That output would be a great return and be years ahead of Ethereum. If cryptocurrency plays a serious role as a currency, transaction output must compete favourably with dominant players, such as Mastercard. Therefore, developers can build robust decentralised applications on TomoChain. The blockchain implements a consensus mechanism called Proof of Stake Voting (POSV) to secure the network.
The Structure Of TomoChain
TomoChain released its mainnet in 2018 and moved to an independent chain with master nodes to secure the network. Masternodes are a vital component of this ecosystem, and the operators get rewards from TOMO. This blockchain has the edge over Ethereum in transaction fees. The fees are less than a percentage of what one would incur when transacting using ETH. Paying thirty or even fifty dollars in gas fees makes no sense for small transactions. Also, TomoChain lead developers hope to reach 20,000 TPS in due course. This level would surpass the speeds of dominant debit card companies and allow this blockchain to scale up to global transaction needs that many in the cryptocurrency community aspire to. Cryptocurrency cannot be a speculative asset exclusively. There is genuine efficiency in the blockchain. For the broader public to transition from fiat systems, they need to realise the utility of the blockchain. The ideological aspects of the blockchain can only go so far if the practical aspects don’t match up for the ordinary user. Therefore, ensuring rapid transactions at a low cost is the best alternative.
A Vision For The Global Blockchain Finance
TomoChain intends to build a blockchain payments infrastructure for the future. The unique design ensures that this blockchain can facilitate fast and immutable transactions. There are plenty of industries that could use payment efficiency. Think of every aspect of life that implements payments and banking systems, an opportunity for TomoChain. Notable examples include the medical and financial sectors requiring precision and transparency. Additionally, TOMO tokens play a vital role in this ecosystem. They contribute to governance with token holders able to vote on the direction of the protocol commensurate to their token holdings.
Additionally, Masternode operators stake and get rewards in TOMO. Therefore, TOMO is vital to this blockchain. It operates as an ERC-20, which is compatible with most Ethereum wallets. TOMO proved its resilience by launching amid a devastating crypto bear market in 2018 but managing to climb gradually to where it is today.
2021 Milestones
2021 was a significant year for TomoChain. This project added more than a dozen strategic partnerships, new upgrades, and more tweaks to make the ecosystem more efficient. This year’s focus is introducing a new governance structure to increase community participation and improve governance. So, the TomoMasterDAO should entrench decentralisation in this protocol. The goal is to transfer governance to a non-profit body focused on innovation and decentralisation. At press time, TOMO changed hands at around $1.03. This figure is below all-time highs but still solid in a stuttering market.
Conclusion
TomoChain has a bold plan to enhance the capacity of blockchain payment systems. Early blockchains like Bitcoin are rigid in their applicability to the real world. If the industry is to achieve Satoshi Nakamoto’s dream of a peer-to-peer digital currency, these adjustments are vital for scalability and lowering costs. Crypto gambling enthusiasts on BC.Game can benefit from this project significantly. There is the part of having a low-cost token to wager and transfer assets.
Additionally, TOMO still has an upside as the protocol rollout matures, and one may gain further from the token down the line. Ultimately, it represents an ambitious approach to crypto payments. The currency part of crypto needs more life to complement the speculative side. TomoChain may have the solution to the current imbalance.
