Tomochain ICO Review

samsolid (25)in #ico • 7 years ago (edited)

Disclaimer - Do you own research before investing in ICOs. I am not a financial advisor.

Overview

Tomochain's goal is to build a Blockchain infrastructure for decentralized apps, integration and issuance and consists of two main parts: TomoChain and TomoCoin.

TomoChain aims to become a part of the „Internet of Value“. This describes a phase where digital assets exist as packets of information on the blockchain. Thus it proposes horizontal scaling. It does this by integrating second layer blockchains with the main Ethereum network for backup and atomic cross-chain transfer.

It aims to be a network of chains that supports near zero transaction fees, instant confirmation and smart contracts. It will act as protocol token that governs and regulates its infrastructure. Their first dApp will be the TomoApp. A decentralized social network with TomoCoin as a build in cryptocurrency

TomoCoin features a ecosystem that rewards developers and early contributors.

Here is a short video to illustrate the function:

Idea and Purpose

TomoChain is aiming for billions of transactions per day. It is supposed to be a public permissioned chain that works on the Ethereum network. The testnet already achieves 1000 tx per second and atomic swaps.

You can find their Testnet here and their demo wallet here.Below a list of their Tomochain's key features:

Proof of Authority consensus
Masternode system
2 second confirmation and near zero transaction fees
Built-in exchange protocol and ICO smart-contract templates
API support for token issuances and integrations
Zero-fee atomic cross-chain transactions between Ethereum and TomoChain

Tomo Wallet

The tomo wallet focuses on being user-friendly secure and more accessible to mainstream users.

Key features here are:

API for 3rd party bots and applications
Stores TomoCoin, Ethereum, and ERC20 tokens created on either TomoChain or Ethereum
Send tokens and coins as well as messages to friends and contacts

TomoApp

Their app is already live on iOS and Android and can be found here.

It already has thousands of weekly active users and is a knowledge sharing app where users can ask questions, produce content like videos and articles, and build a knowledge base together.

Team and Advisors and Partnerships

Tomochain's team looks very solid.

The founder and CEO Long Vuong was the co-founder of the very succesful and renowned NEM blockchain. Their CTO Son Nguyen is the founder of a blockchain developer group with over 700 developers. Besides that they have several people in their team who worked at companies like Google and Investment banks.

They also have some top advisors. Among them are Roger Lim, who is the director of the Qlink Foundation and is also advisor to several succesfull ICO's like Bluzelle, SelfKey and Coinfi and Hoang Nguyen who is co-founder and VP of R&D at WeTrust.io.

Moreover Tomochain has formidable partners which include companies like Neo, Hashed and Top VC's.

Tokenmetrics

Total token supply = 100.000.000
Token sold in sale = 50.000.000
Hardcap = 8.5 Million USD

The token allocation looks very promising. The hard cap is at 8.5 Million USD, which is very low and reasonable for such an ambitious project. Future investors should definately consider buying their tokens early.

Social Media and Hype

Tomochains social media presence is very strong and quite unusual for such a low cap ICO.At the time of this review the social media numbers where the following:

Telegram: 18k members
Twitter: 3.5k Follower
Facebook: 6.5k Likes

Their CEO Long Vuong also did an AMA with OhHeyMatty recently (a famous Youtuber with a focus on crypto currencies and ICO's). Matty was quite impressed with the project and rated it highly on his ICO Spreadsheet. You can check out the AMA below:

Verdict

Tomocoin is solving a big problem by providing a scalable blockchain which aims to be faster and have lower fees. The Tomoapp has several use cases and I can see it being adopted by a big part of the crypto community. As adoption grows, tomocoin has the potential to compete with the likes of Ethereum and Neo as tomochain has the ability to create smart contracts. The team is strong, token metrics are very good for ICO participants and early investors and there is already a lot of hype around this project which shows the potential for growth. Moreover, their website looks very straightforward and organized and their whitepaper seems very polished and informative to me. They have a very ambitious roadmap ahead of them with an alpha launch in Q2 2017.