TomoChain (TOMO) is a blockchain platform that will host smart contracts, which allows for decentralized applications (dApps) to be built using the TomoChain platform. TomoChain will be on its own chain which you could say will be a side chain of Ethereum, but will sharing data and value when necessary. The currency of the platform will be TomoCoin which is an ERC-20 token which will operate on the Tomochain blockchain using smart contracts. The white paper can be viewed at https://tomochain.com (Under “Our Vision” 37 Pages).
Overall TomoChain doesn’t really provide anything that other projects have already done or are in progress, as this project is similar to Steemit there really isn’t anything that makes them look better. Also, they are yet to actually release most of the project, they are really taking their time and making sure supporters regret choosing them, for TomoChain to improve they will need to be different or have key advantages over competitors and they need to get their arse into gear and get this project underway.
There are maximum ninety-nine masternodes elected in the masternode committee. The required amount of deposit for masternode role is set at 50 000 TOMO . This amount is locked in a voting smart contract. Once a masternode is demoted (by not remaining in the top ninety-nine voted masternodes) or intentionally quits the masternode candidates list/masternode committee, the deposit will have been locked for a month. Coin-holders can vote at any time, by any number of votes (which is actually counted by the amount of TOMO they bet on some masternode candidates). They can use masternode’s performance statistics in the governance Voting DApp as reference information to give votes. The set of masternodes is dynamically sorted by the amount of TOMO and counted up to ninety-nine, upon reception of votes.
The TomoWallet is yet to be fully rolled out but is planned to store all Ethereum ERC-20 Tokens. The wallet will work like any other wallet mechanisms which allows you to store, transfer and receive.
TomoChain released its own app called “TomoApp” essentially the app is a knowledge sharing app that rewards users for answering questions, similar to STEEMIT. All valuable content is rewarded in the form of TomoCoins which can be used for services from other apps within the TomoChain network or even within the app itself to boost your own posts/videos, pay for access to private channels, buy items on the marketplace and give gifts to your favorite streamers. Secure and Private messaging is mentioned but I can’t see anything to back that up. The app is currently available on IOS, Android and on the Web.
