Cryptocurrency market has been flooded with so many ICOs recently, it is becoming more and more difficult to identify a good project at its early stages. TomoCoin is one such ICO which is set to hit the markets soon, but is it worth investing? I hope my quick review of TomoCoin will help you make your decision.

Quick Facts:

Name: TomoCoin
Symbol: TMC
Token Type: ERC20
Total Supply: 100,000,000
Hardcap: 8.5M (Public and Private Sale)
Sale Start Date: 01st March
Price: 1 TMC = $0.25

What is TomoCoin and TomoChain?

TomoCoin and TomoChain are interrelated with each other in the sense that TomoChain aims to build an efficient blockchain infrastructure for decentralized applications, token issuance and integration. TomoCoin is the native currency or token that govern and regulate TomoChain.

Why TomoChain?

A single transaction on bitcoin network on an average can cost around 30 dollars with almost 10 minutes of waiting time. A transaction on Ethereum network is faster and costs around 3 dollars and 18 seconds of waiting time on an average. But these numbers aren't good enough for any sort of mainstream adoption, TomoChain aims to be provide a solution and deliver a lower fee (nearly free) alternative with almost instant confirmations.

What does TomoChain offer?

• Scalability solution for Ethereum blockchain

TomoChain plans to support horizontal scaling via adding more second layer blockchains with good performance integrated with Ethereum network for backup and atomic cross-chain transfer.

• Ideal Solution for Decentralized Apps

TomoChain aims to be an ideal solution for decentralized apps by providing network of chains that supports instant confirmation and near zero transaction fee.

• Tomo Application

Tomo application will be the first consumer application utilizing TomoChain blockchain infrastructure. Tomo application aims to build a new decentralized social network with a built-in cryptocurrency.

• Masternodes

TomoChain will work on Proof of Authority consensus and will have masternodes which will support easy and fast creation of child chains to eliminate chain congestion.

• Tomo Wallet

Tomo Wallet will allow users to safely store TomoCoin, Ethereum, and other coins and tokens on Ethereum or TomoChain.

Roadmap

Positives

• Prototype

TomoCoin is not a whitepaper project and has working prototypes for all its major offerings:

Tomochain Testnet
Tomowallet Demo
Tomo Application Beta - Web App
Tomo Application Beta - Apple App Store
Tomo Application Beta - Google Play Store

• Strong Team and Advisors

TomoCoin is backed by a very strong team with relevant industry experience which can help TomoCoin to realize its true potential. The CEO of TomoChain Long Vuong is former project lead of NEM blockchain. Min Kim (Head of Biz Development at The Bee Token) and Roger Lim (Director of the Qlink Foundation) are few of the notable advisors advising TomoCoin.

• Token Metrics

Token metrics for TomoCoin are extremely good and in fact one of the best I have seen in a long time. I have listed below few points which makes TomoCoin token metrics very impressive:

1. Low Hardcap: $8.5M for an Infrastructure project is extremely low and hence the upside potential of this project is huge.
2. Individual Caps: TomoCoin is implementing individual caps based on Proof of Care as they intend to have a community who believes in long term scope of this project. Although I am neutral on proof of care philosophy which is gaining a lot of interest recently but implementing individual caps is very good step and will restrict whales from entering the public sale.
3. Token Supply Allocation: The supply of tokens is fairly distributed as well, 50% tokens are available for token sale and only 15% is reserved for team, advisors and bounties. Remaining 35% of the allocation is reserved for rewarding users of the platform.

• Market Demand and Hype

Cryptocurrency market is on the rise and to attain mass adoption, we need better infrastructure, better blockchain projects which solves real world problems. TomoCoin is aiming to do just that, providing a solution for ongoing scalability issues, faster transaction speeds and cheaper transactions.

The hype surrounding this project is also huge with over 16K members in their telegram at the time of writing this post and that is only going to increase as they reach closer to the date of their ICO.

• Strong Alliances

At a very early stage Tomocoin is able to form strategic alliances and partnerships with various institutions. Some of the notable ones include Neo, Hashed and Coefficient Ventures.

Negatives

• Proof of Care Philosophy

As much as I love how TomoCoin aims to shortlist people based on proof of care, I feel there are certain loopholes in this kind of a strategy which might restrict some really interested people from participating in the mainsale. The proof of care submissions are only open for 24 hours and if a person is not able to submit his POC in that duration, he will not be able to take part in the mainsale.

Also, I believe proof of care is inclined towards the content creators as they will have more influence and better chances to make it through. For others, it will be a pain to do something which they don't generally do and many people will just look for shortcuts such as copying content from other's post just to complete their Proof of Care which will result in a lot of spam.

• Crowded Niche and Competition

The niche TomoCoin is entering is already very crowded, with so many blockchain projects aiming to solve a similar pain point and promises to provide higher transaction speeds and lower transaction costs, it will be very interesting to see how TomoCoin competes with them and make its own space in the market.

Recommendation

TomoCoin is a solid project in my opinion, I don't remember writing so many positives for any other ICO before and I will surely invest in TomoCoin myself. I will be submitting my post for their Proof of Care as well and hope to get on the Tier 1 if possible. I wish to hold a TomoCoin masternode as well in future.

Overall Ratings: 9.5/10
Investment Advice: Highly Recommended
For Flipping: Good
For Long Term: Good

Quick Links

Website
Whitepaper
Telegram
Twitter
Medium

Image and Video Credits: TomoCoin

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Disclaimer: This is not a financial advice. I am giving my personal opinion, do your own research before making any investment decision. Do not invest more than you can afford to lose.

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