Feb 28, 2019
The most efficient Blockchain
for the Token Economy?
Interview with Long Vuong Founder & CEO of Tomo chain
1) What interesting things have happened inside the TOMO project? What stages did you achieve from the road map? Please tell us about your progress so far.
We are following the classic open source project tradition that all the code bases and milestones are available in our Github repositories that you can find here https://github.com/tomochain
We plan to publish a more friendly visual roadmap in the next few weeks that users without a technical background can also follow. In sort, the majority of the engineering effort in 2019 will be on delivering TomoX’s protocol, and associated tools and products for an open finance system on TomoChain.
2) Could you describe in simple terms why TOMO based smart contracts are more efficient than others?
TomoChain’s block time is from 2–3 second compared to Ethereum’s 15 second, and gas fee for TomoChain’s smart-contract is 100 times cheaper than Ethereum’s.
3) How will TOMO solve the controversial topic of scaling?
TomoChain’s unique POSV is currently powering the scalable network.
4) Which important functions are still not implemented for TOMO, and will we ever see a final form, or is it per definition a work in progress with constant improvements?
Tomo X is the work in progress, while privacy and further scalability via sharding are in our research agenda. TomoChain will constantly be improving over years.
5) TOMO have been very interested in the gaming industry, what efforts will we see there? and will we see more gamification in the TOMO project itself?
We will be running several Hackathons, Developer’s workshops, and other campaigns to attract best developers, and gaming projects building on TomoChain.
6) Now that the crypto space is around for a while, a lot of things become clearer, in this times it also becomes more clear what is an open source science project and what is a revenue-generating business.
Where do TOMO see itself?
TomoChain is a decentralized infrastructure which is maintained and secured by global communities. TomoChain’s client codebases are open sources. While many businesses and revenue-driven projects can build on top of TomoChain and belong to TomoChain’s ecosystem.
7) IoT, payment solutions, gaming and gambling platforms, those are all very known blockchain use cases. Are we missing something?
Do you see an area for smart contracts that are not tackled so far?
TomoChain’s smart-contract (similar to Ethereum’s) is Turing-complete so limitless things can be built on TomoChain. However, because of the computational costs, I think blockchain is more suitable to high-value applications, store of value in finance for example.
8) Many crypto users praise the simple and user-friendly TOMO wallet, what is the secret behind an uncomplicated application?
Dapps should be fun or value generating to attract mainstream users. The industry should focus more on user experiences instead of technical jargon per see.
9) Many projects collected millions and millions while practically achieving very little or nothing, TOMO has been extremely efficient and successful in their technical progress, how come?
We can’t say much about other projects, but I think TomoChain’s team is of very high quality, and we have a strong vision of what we want to build.
10) Even for classical stock markets the “market cap” is not a very reliable way to truly evaluate projects, in crypto it gets even more complicated with decentral network’s and multiple entities and a huge node ecosystem.
do you think market cap is a solid approach to evaluate crypto projects?
I think the market cap is a fair way to evaluate the project, but the number of users and the ecosystem should also be taken into account.
11) Who are your competitors and what are your advantages or distinctive features? How many solutions do you think can coexist side by side?
Dapps can choose between a couple of high-performing blockchains such as EOS or Tron or TomoChain. I think there can be multiple blockchain’s economies existing together as each has some unique strength and offers.
12) What is your stance on governance, how should decisions be made and how much should token holders be able to decide?
I prefer governance by forking approach with some alternative ways to gather public opinions. In TomoChain, token holders can vote for certain Candidates and make them Masternodes who create and validate new blocks.
13) Thank you for your time and answers to the questions. Any last words for global blockchain enthusiasts?
The bear market of 2018 was not nice, but don’t be discouraged because I think cryptos and blockchain still have many good things to offer. Taking a long-term view, then the crypto industry is still at the start and in an upward trend.
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