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TomoChain - Binance AMA Recap - In case you missed it!

TomoChain - Binance AMA Recap - In case you missed it!
TomoChain’s AMA with Binance was recently held on Oct. 19th, 2019 with CEO Long Vuong sharing all the latest updates about TomoChain’s products and potential future projects.

https://preview.redd.it/yz3h0tqgc2u31.jpg?width=1600&format=pjpg&auto=webp&s=1a888e829057030e17ea4cb67828afb2455c6811
*** Below is a brief recap of what happened during the AMA ***
Segment 1: Richie from Binance asked Long Vuong 5 questions.
Richie: Among different blockchains and cryptocurrency projects, what are some key features that set TomoChain aside? What does TomoChain have that other projects don’t?
Long: Some key features which set TomooChain aside include:
  • PoSV consensus: TomoChain uses an innovative consensus method called POSv (Proof of Stake Voting) which gives an incentive to all TomoChain token-holders to play an active part in staking across a network of 150 high-quality masternodes, and to monitor their performance and governance actively. Our staking-governance Dapp, TomoMaster, is recognized as one of the leading staking platforms in the industry. With our PoSV consensus protocol, TomoChain provides:
/ At least 2k TPS while still enhancing security through Double Validation.
/ 2-second block-time and transaction confirmed within almost 4-second.
/ Significantly improvement of user experiences and adoption of blockchain.
  • Double Validation and Randomization: Strengthens Tomochain’s security, reduces fork and nothing-at-stake attacks, and makes TomoChain unique among other Proof-of-Stake-based blockchains.
  • EVM compatible: Every Ethereum smart contract can be effectively run with almost instant transaction confirmation. Porting time:
/ From Ethereum to TomoChain.
/ 2From Tron to TomoChain: 8h.
  • Rich set of our own products: that enable a variety of platforms for end-users to interact seamlessly with blockchain technology, including TomoWallet, TomoMaster, TomoScan, TomoZ, TomoX.
/ TomoZ — Zero Friction Protocol — the first on-chain protocol that offers the ability for any user to pay transaction fees with the same token the user is holding.
/ TomoX — a secure and efficient relayer-masternode decentralized cryptocurrency exchange protocol that empowers a diverse system of relayers, MM providers, and independent projects to work together.
  • Privacy: Lastly, token privacy on TomoChain will be forth-coming in 2020, and the details for implementation will be revealed in due course.
Richie: Since mainnet’s launch 10 months ago, what are some key achievements for TomoChain? And does TomoChain has any plans to keep up with this productivity in the future?
Long: Since our mainnet launch, TomoChain has continuously built our ecosystem strong and stable, resulting in:
  • Being a stable chain running that can handle 2000 tx/s.
  • 50% TOMO staked in the smart-contract for the masternode governance system.
  • 16 active dapps build on top of TomoChain and almost 6000 monthly active users, with a variety of new games and dapps being created.
  • TomoZ’s mainnet launch, a protocol that allows users to pay transaction fees with their own native token without having to hold TOMO, as well as to help users create their own token in 2 minutes. After the launch, a number of token with TRC21 standards has been made through TomoIssuer.
Richie: Which area does TomoChain focus on at the moment? (DeFi, Dapps,..) and which products/projects are you developing to support it?
Long: TomoChain aims to build a safe and credible DeFi system that everyone can benefit from globally, with our recent launch of TomoZ — fees by any token protocol, our decentralized exchange protocol TomoX coming in a couple of weeks, and many more projects in plan for the future.
TomoChain opens up a wide playground for developers to creatively build their own dapps and games. We have an enthusiastic high-tech team that can support you with problems you may have while creating your product. TomoChain’s most recent Dappathon Competition just ended, with 9 final contestants who’ve brought a whole new gaming experience for our community. Thus, many new games are coming up on our platform, encouraging even more developers and game lovers to join. So keep an eye out to try out some of our new games!
Richie: TomoChain has launched TomoZ’s mainnet in August. Can you elaborate on the product and comment on the amount of interest with individuals/businesses you’re seeing in this product?
Long: TomoZ — Zero Friction Protocol — provides inroads to mainstream users who find crypto to be unnecessarily complex. It is the first on-chain protocol that offers the ability for any user to pay transaction fees with the same token that the user is holding.
TomoZ removes the friction of having to hold native blockchain coins/tokens to send to other wallets or to interact with dapps. Users/customers of all businesses using our solution will have a smooth experience without even knowing that they are using the blockchain and cryptocurrency technology.
Tokens issued with the TomoZ protocol follow a new standard called TRC-21 (TRC is the abbreviation of TomoChain Request for Comments). Everyone can create a TRC-21 token on TomoChain in a few clicks using TomoIssuer — a user-friendly token issuance dashboard. No need to spend thousands of USD hiring blockchain developers.
For DeFi apps, TomoZ can be tailored for issuing stablecoins. Digital wallets and payment systems can be set up via TomoZ protocol very fast and cost-effectively.
Richie: The testnet of your flagship product — TomoX — the DEX protocol is to be rolled out soon. What sets TomoX apart from other DEX protocols?
Long: TomoX Testnet is to be launched in a couple of weeks. TomoX Protocol is our relayer-masternode decentralized cryptocurrency exchange protocol. Compared to the current state of the art DEX architecture, TomoX Protocol has quite a lot of advantages, which have been described in detail in our paper (http://bit.ly/33EgSl7), the most notable are as follows:
  1. Performance: TomoX Protocol is integrated into the core TomoChain blockchain consensus layer, which can potentially handle many thousands of transactions per second. Furthermore, with the Relayer-Masternode architecture, the heavy computational load of the matching engine in masternodes can be substantially moved to Relayers’ local matching engine. Performance of the TomoX Protocol can therefore potentially be an improvement when compared to most of the existing DEXs.
  2. Liquidity: This is a chicken and egg problem. Traders do not join most of the existing DEXs because there are not enough orders on these DEXs to match. With the Relayer-Masternode architecture, each relayer can focus on understanding their relevant markets and trading pairs — thus the potential for better and targeted marketing strategies to attract more traders to participate in the ecosystem.
  3. Full decentralization: Most of the existing DEXs are semi-decentralized. TomoX Protocol, on the other hand, is fully decentralized because the order book database, matching engine and trade execution mechanism is decentralized to all masternodes. This decentralization power in TomoX can significantly reduce front-running risks that currently appear in some centralized exchanges or semi-decentralized exchanges.
  4. Security: Centralized exchanges can have significant security issues as they centrally manage a large of amount of assets, and traders on centralized exchanges do not have control of their private keys. TomoX and non-custodial exchanges solve this problem because the users have complete control of their assets. In practice, some DEXs require traders to deposit their assets, while TomoX does not impose this requirement, and is completely non-custodial regarding user assets.
  5. Cost: TomoChain provides near-zero transaction fees, which significantly reduces trading fees compared to most existing DEXs.
SEGMENT 2 — Long asks questions to the chat. Each question is linked with a google form, which will be accepting answers in 3 minutes.
Q1: When was TomoChain listed on Binance?
August 24th, 2019.
Q2: Which TOMO trading pairs are available on Binance.com?
TOMO/BNB, TOMO/BTC, TOMO/USDT and TOMO/USDC.
Q3: What is the name of TomoChain’s consensus?
PoSV — Proof of Stake Voting.
Q4: Name TomoChain’s most recent product and its mainnet launching date?
TomoZ — August 20th, 2019.
Q5: The testnet of which TomoChain’s product will soon be launched?
TomoX.
SEGMENT 3 — Chat asked Long questions. 3 Rounds of questions opened up, and Long chose 5 questions from each round the answer. Below are some of the highlighted questions Long gave answers to:
Q1: Vietnam has very few successful projects, what is the problem? Does TomoChain have any plans to support other projects in Vietnam and contribute to building a stronger Vietnamese community?
Long: I consider TOMO and TomoChain being in a very good term right now, given that we have a strong and decentralized community of Masternodes and stakers securing the chain 24/24 every single day. Furthermore, good things take time to happen, even Bitcoin took a few years to create strong values. Comparatively, TomoChain would need more time to develop and mature, expanding our reputation and values to the world.
Q2: If Ethereum figures out their scaling issues, then projects like Tomo will not be able to compete. How will you respond to it?
Long: That’s no issue actually. There are other dimensions to compare that TomoChain still proves to have advantage on, such as blocktime. TomoChain has a 2 second blocktime while Ethereum’s is about 15s, which makes TomoChain more suitable for gaming and other activities that need fast interaction. Also, target audience and the community usage of the network can be very different too.
Q3: Among some technology key points such as: Sidechain, Privacy, Shardchain, how far are Tomochain going in each aspects at the moment? What are your main focus in terms of technology at the moment?
Long: Side-chain technology is doable (can be designed and built) but we focus on the mainchain at the moment. Sharding has some serious drawbacks as inter shard communication can break smart-contract composability and this is a very serious issue. The next major research area we are working on is privacy.
Q4: TomoChain has so many outstanding features in the form of TOMO WALLET, TOMO MASTER, TOMO SCAN, etc. to name a few. But, do you have real users and partners that use your services and what marketing strategies do you have to draw new users as without marketing no matter how good the product is nobody cares?
AIS-X generated its AIS token with the TRC21 standard on TomoChain. Can you elaborate more on this and its purpose?
Is the number 150 high-quality masternodes fixed or dynamic?
Long: We do have a variety of real users using our products on a daily basis. For example: TomoWallet has around 1000 daily active users, which mean around 1000 people open the app and do something every single day. The number has actually been quite stable for the last few months. Moreover, I feel that the crypto space is still very small, so TomoChain and other crypto and blockchain projects are trying our best to push the number of users. Of course the more the merrier. So my invitation to all of you to download the app and spend sometimes with TomoChain community :)
Q5: Ethereum developers seem to be loyal (or stubborn if you prefer) to Ethereum and might wait for Ethereum to scale because I haven’t seen any major ETH dapp switching to Tomochain (or other blockchain project), so how will Tomochain persuade/attract blockchain developers (solidity developers specifically) to build on Tomochain or migrate their dapps from Eth to Tomo? Assuming that the need for higher TPS in the dapps will trigger this onboarding of developers might not work necessarily and is too passive of a strategy IMO. For example, Thundercore protocol is also EVM compatible & faster (1200 TPS) than Ethereum but solidity developers are not building there either. So what’s Tomochain/Tomoteam strategy in this regard?
Long: I don’t believe in bribing or buying developers (from Ethereum or elsewhere) to build on TomoChain. It is not the way to build an authentic community. We want to build a community with real interests and determination to help grow TomoChain ecosystem. Thus, till now, we fortunately have been working with some awesome teams such as TomoSwap, PigFarm etc. Our goal is to continue to build reliable products, and increase users experience when it comes to blockchain in general, and join TomoChain specifically.
submitted by alexngn201 to Tomochain [link] [comments]

Ren | All-In-One

Ren

What is Ren? Ren is an open protocol that enables the permissionless transfer of value between any blockchain. Ren's core product, RenVM, brings interoperability to decentralized finance (DeFi).
What makes RenVM unique is that it does everything in secret using zero-knowledge proofs over an sMPC based protocol that the team has pioneered. The state, inputs, and outputs of all programs that RenVM runs are kept hidden from everyone, including the Darknodes that power it.
This allows RenVM to securely manage (ECDSA) private keys on different blockchains, making it possible to shift tokens between these blockchains in a trustless, permissionless, and decentralized way (i.e interoperability).
Technically speaking RenVM is a byzantine fault-tolerant protocol (with 1/3 malicious nodes) that does ECDSA threshold key generation and signing via sMPC. RenVM is not a product or an application in and of itself but is a network (and an accompanying SDK) that allows developers to bring interoperability to their DeFi applications.
Ren was founded in 2017 and is headquartered in Singapore.

RenVM Mainnet Is Live! 🎉

https://medium.com/renproject/renvm-mainnet-release-98cac4c6fa8e

RenBridge (dapp)| Mint BTC, BCH, and ZEC on Ethereum

https://bridge.renproject.io/

Official Resources
Darknodes
Darknodes are the physical machines that power RenVM, where every machine contributes CPU time for compute power and its disk space for storage. These are that machines that form the P2P decentralized network (not a blockchain) that cooperate to run secret multiparty computations. It is important to note that programs executing on RenVM are hidden from the Darknodes that run the virtual machine.
This guide will walk you through the installation of your Darknode. Before you begin, make sure that you have a MacOS, Windows, or Ubuntu machine available (i.e. home computer) and 100,000 REN.
Guides: How to set up a Darknode
The Team
Ren Linkedin Page
Investors
General Updates | Blog
2020 Development & Ecosystem Updates
Podcasts & Youtube videos | Chronological Order
REN Exchanges
REN Token Details
FAQ
What happened to the Republic Protocol?
Republic Protocol was rebranded to Ren to reflect the project’s evolution towards interoperability (i.e. RenVM). Old posts and discussions can be found on the Republic Protocol Reddit

Closing Thoughts

We truly appreciate our community, and this cannot be said enough. The level of technical understanding and subsequent assistance provided to our newcomers, speaks to the expertise and positivity in the community, and we couldn’t be more thankful.
We look forward to collaborating with everyone as we make our next steps forward towards building a cross-chain DeFi ecosystem. If you are interested in working directly with the Ren Team we are always looking for developers so please do reach out via the below email.
Need help or want to partner? [[email protected]](mailto:[email protected])
submitted by RENProtocol to RenProject [link] [comments]

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