What is TOMO?
TOMO is the native cryptocurrency of TomoChain, a project that attempts to improve the scalability of the Ethereum (ETH) blockchain. According to its website, TOMO has a mission to ‘accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits’. A set of protocols and products have been built to support speed, privacy, usability and liquidity needs, all in one platform. The goal of TOMO is to develop innovative products and make TomoChain an ideal platform for DeFi and enterprise applications. TOMO has a range of features, such as a Proof-of-Authority consensus, a 2-second confirmation time and almost non-existent transaction fees. A user can also become a masternode candidate by depositing 50,000 TOMO. From there, they need to become one of the top 150 voted candidates to receive TOMO rewards in proportion to the number of blocks they manage to sign.