TomoChain Is Growing Over 160% Since Launching Its Mainnet in December

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TomoChain (TOMO), a proof-of-stake blockchain platform that features a 150-masternode architecture, has been on a tear since launching its mainnet in mid-December 2018. From December, TOMO has raised from roughly $0.17 to $0.443, value at the time of writing the article, representing a 164% increase.

TOMO, which trades on KuCoin, Hotbit and Gate.io, currently holds a $26.1 million market cap with a steadily increasing daily trading volume since the end of January.

TOMO/USD via CoinGecko

TomoChain notably leverages a proof of stake voting (PoSV) consensus for almost-zero fees and instant transaction confirmations.

The project aims to improve on the current design of the ETH network with novel techniques including double validation, staking via smart-contracts and uniform randomization processes. This system allows for 2 second block times and over 2,000 transactions per second.

Development Focus

TomoChain supports all EVM-compatible smart contracts, protocols and atomic cross-chain token transfers and is beginning to on-board dapps onto the platform. A focus of TomoChain dapps has been the project’s mobile application, which allows investors to actively stake their tokens for daily rewards and recently added dapp browser functionality.

Perhaps the most notable addition to the TOMO ecosystem since launching its mainnet is Axie Infinity, an ETH-based collectibles game that features PvP battles. Now, users can use native TOMO tokens to play around with Axie Infinity.

The addition of Axie Infinity comes as part of a larger movement to drive the adoption of the TomoChain network for gaming. To that end, the team recently hosted a seminar to introduce the potential and opportunities of gaming on the blockchain to game developers.

Final Take

Moving forward, investors should watch for continued DAPP adoption and any other signs of growth in the gaming ecosystem. Given that TOMO has a small market cap, (ony 26 USD million) there is significant room for additional value creation. Additionally, the project’s user-friendly staking system and 11.98% yield (according to StakingRewards.com) will likely further benefit the token’s price long-term.

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