TomoChain | Review of the Product | TestNet | Functionalities
TomChain | Review of the Product |
TestNet | Functionalities
Good day to
everyone reading this document, hope everyone is having a great day!!
Overview
Bitcoin
debuted in 2009 as the world’s first cryptocurrency, it was deemed to be a technological invention due to its
usage of Blockchain technology. However new projects over the horizon
have evolved such as Ethereum and NEO, not only they have evolved they are game-changing in the Blockchain sphere. These
projects are fully fledged and have onboarding
solutions that have real-life use cases
and potential to impact the 21st century.
Due
to the ever-changing crypto graphics and
dynamics, projects such as Tomochain has
entered the picturesque demography of the
Blockchain stream.
Brief History of TomoChain
TomoChain is a public EVM (Ethereum Virtual
Machine)-compatible blockchain with the following advantages: low transaction
fee, fast confirmation time, double validation and randomization for security
guarantees.
TomoChain claims to provide 2000 TPS on testnet with a view
to 20–30k TPS with scaling solutions — including sharding, EVM parallelisation, and hardware integration.
To put matters in perspective, Bitcoin can perform around 5-7 transactions per second, while Ethereum being a development platform, can perform about 10-15
transactions in a single second.
TomoChain tackles the following main bottlenecks of classic
blockchains:
·
Efficiency
·
Confirmation Times
·
Fork Generation
The brilliant team at TomChain has proposed Proof-of-Stake
Voting (PoSV) consensus, a Proof-of-Stake (PoS)-based blockchain protocol with
a fair voting mechanism, rigorous security guarantees, and fast finality. The team
also present a novel reward mechanism and show that, with this mechanism, the
blockchain has a low probability of forks, fast confirmation times, plus the
contributions and benefits of masternodes are fair in the sense that the
probability distribution function is uniform eventually.
More details on the history and background of the TomoChain technicalities
can be found in the Technical Whitepaper on TomoChain Website, as this is the
updated copy of the document always refer to the version and date modified.
To involve the community, investors and attract new users, partner’s
and other potential investors for developing DAPPS on TomoChain, the genius
team of TomoChain came up with a unique bounty game “Tomo Hunting Season” and
this is to target the TestNet before the mainnet is released to the general
community. The aim of testnet is to stress-test TomoChain technology and to
give users more confidence and trust in TomoChain’s proposed blockchain by
showcasing real TomoChain use cases.
The view from the team is “Adoption is an essential factor in
determining the success of a project. With no real users or valid use cases,
projects have no future” this is a reality many
projects have failed to live up to expectation and had to bite the dust before
getting into the mainstream.
I have been involved in the TomoChain for almost 6 months now
and quite excited with the new concept to involve the community and incentivized
games called “Tomo Hunting Season” this is to stress-test TomoChain TestNet
2.0.
My initial thought was this is usual gimmicks to get the
investors and spread the word via Telegram channels for free but I was wrong,
once I got involved in the Tomo Hunting Season games I was addicted to all the
games and was nearly awake most of the time to check my stats (PS: With envy of
my Mrs and angry look I had to close the Wallet J ). I will get more
into the stats part as this review is around the TomoChain TestNet experience
and overall product the team has delivered till date.
It all started with the Game 3 of the Tomo Hunting Season “
TOMO HUNTER”, the concept was simple with this game. Stake on the Masternode or
Masternode’s running on the TestNet and the voters who earn the most TOMO by
staking will win rewards.
Background of TomoChain TestNet
TomoChain Testnet 1.0 with PoA consensus was live in Jan 2018
and achieved +1000 TPS under 11 working nodes.
TomoChain testnet 2.0 with PoSV masternodes was live on
August 20th, 2018. The team came with PoSV with 150 masternodes for governance
efficiency and Double Validation for security enhancement that is a game
changer in all aspects if you look at it in detail. The TomoChain testnet 2.0
launch is a great proof marking a major step toward our mission to be a leading
force in building the Internet of Value. TomoChain is The Most Efficient
Platform for the Token Economy, designing its infrastructure and working to
create an alternative financial system which is more secure, transparent,
efficient, inclusive and equitable for everyone.
Some of the excellent and critical functions of the TomoChain
TestNet 2.0 are and most likely this will be in mainnet as well:
·
Proof-of-Stake Voting* consensus
·
TomoMaster for deposit and voting
·
Decentralized governance through voting
·
Current testnet statistics
·
Thousands of TPS**
·
List of current masternodes and candidates
·
TomoScan block explorer
·
Rewards for masternodes and voters
·
Masternode profile and performance
·
Faucet TOMO for testnet
·
Block finality status
·
TomoWallet
As soon the Game 3 was launched and live we were provided
1000 TestNet TOMO to stake against the Masternode / Masternode’s that were
running in the TestNet.The excitement and hype around the TOMO HUNTING was at
another level, the telegram channel was buzzing and all the players were coming
with a strategy of their own to win this event.
Note: Tomocoin (TOMO) is the native token for the Tomochain
infrastructure.
As per community news and updates, I guess there were around
300 real-time players that were involved in this Game 3 of TOMO HUNTING,
registered and followed all the steps required to be a part of this game.
TomoChain TestNet was comprised of a great combination of
products that will be used for mainnet as well, so in short, this was a great
strategy by the team to get all the products verified and stress-test before
the mainnet hit the floor in Q4.
Products:
·
TomoScan
·
TomoMaster
·
TomoStats
·
Faucet
·
TomoWallet
TomoScan: TomoScan provides a user-friendly, details and
perfection-oriented user interface for TomoChain block explorer. This
was a great tool to keep a check on the overall transactions that took place
for a Tomoholder.
TomoScan also offers technical visualizations and does useful
statistics about the TomoChain performance, token holders and other
functionalities.
The below screenshot is from my own address that I had
created to be part of this game.
This has different tabs to keep a track of transactions,
Mined blocks and Rewards.
The link to TestNet TomoScan: https://scan.testnet.tomochain.com
TomoMaster: TomoMaster provides a master professional level UI that
brings governance power back to the users. We were provided 1000 Test
Tomocoin to vote and any coin-holder can deposit 50k $TOMO through TomoMaster
to become a masternode candidate. For coin-holders, TomoMaster allows them to
vote for masternodes and the decentralized governance without violating the
decentralization nature of blockchain. This is realized by seamlessly
connecting TomoMaster to well-known Ethereum wallets such as MetaMask.
TomoMaster also explores masternode performance statistics for coin-holders to
take their voting decision.
The voting was based on different criteria each player used
some were monitoring the rewards per block, specs of the Masternode, general
availability of the Masternode and some used the performance as a baseline of
each Masternode, my strategy was getting Masternode Specs and performance as my
the main points if I have to stake my valuable TOMO for winning any rewards.
The link to TestNet TomoMaster: https://master.testnet.tomochain.com/
TomoStats: Stat shows the various metrics regarding the current testnet
including the current number of masternodes, masternodes performance, current
TPS, block-time, confirmation time, finality and other useful metrics.
The TomoStats was the great tool to keep an eye on the
performance of the Masternode and overall TomoChain Blockchain. This helped me
a lot during the game phase.
The link to TestNet TomoStat: https://stats.testnet.tomochain.com/
Faucet: Faucet allows users to collect test $TOMO that is only used
for experimenting the TomoChain testnet and has no use in the TomoChain mainnet.
Some users did request and used this feature to accumulate some test Tomo
before the game began for testing out the functionality.
TomoWallet: TomoWallet is where to store and transfer TOMO. Both web and
mobile version are available. The requirement as part of the game was to
download the appropriate TomoWallet as per the Phone device Android or IOS and
register the wallet.
In a future release, the TomoWallet can be used for
voting/staking on TomoMaster. Sweet isn’t it this is the best part of TomoChain
they take all the feedback and suggestions on board to make life easy for the
investors.
The game process was quite a simple to register, download
wallet, create a new wallet, request
some Tomo, vote the masternode and keep an eye on the Masternode performance.
Simples!! J (https://en.wikipedia.org/wiki/Compare_the_Meerkat)
The detailed documentation was created by TomoChain team and
was excellent to help everyone to get into the game and start the
voting/staking process, the link to the document: https://docs.tomochain.com/get-started/wallet/
Conclusion
The team did turn up with some shocking news in between the competition
that they will switch off one of the Masternode, so everyone was on their feet
to keep an eye on the Masternode, Finally after a week of voting/staking
different Masternode / Masternode’s the game came to end.
However, the team was keeping everyone updated via social media Twitter account
and on Telegram channel. Some of the users did really well to earn nice
quantity of Tomocoin within few days and I am not sure what was the strategy
but it seems many went for some high performing nodes and stuck with them till
the end.
My experience was great and playing a virtual game with some great minds
in Crypto helped me to learn more about this great product and I appreciate TomoChain
has given me an opportunity to unleash my hidden gamer J
In the end, I didn’t win the event but it was great to be
part of the Test Team and I am proud to be contributed to the TomoChain
validation and stress-test the platform prior to the mainnet launch.
Mainnet is due to launch
this quarter (Q4), likely late November/early December.
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