Tomochain, a cryptocurrency initiative, strives to scale up transaction capacity on the Ethereum network, which is currently limited to 15 transactions per second. This limitation often results in exceptionally high transaction fees due to the extensive use of the network by decentralized applications. Tomochain was introduced in December 2018 by Long Vuong, who also founded Tomochain PTE and co-founded NEM blockchain.
Introducing Tomochain
Distinguishing itself through a Proof-of-Authority consensus mechanism and rapid 2-second block confirmation times, Tomochain significantly improves the throughput on the Ethereum network. Positioned at 194th in terms of market value, Tomochain Coin has a valuation of $211 million. It trades at $2.61 per unit, with 80 million out of a total 100 million coins circulating in the market.
Market Performance and Accessibility
Although Tomochain Coin has not reached its peak value and is 14% below its all-time high, it has still managed an impressive 900% growth over the past year. Investors interested in purchasing Tomochain Coin can do so through the Binance cryptocurrency exchange. Binance offers various trading pairs for acquiring TomoChain Coin after setting up an account.
The process of buying Tomochain Coin on Binance involves depositing USD or purchasing a compatible cryptocurrency like USDT. Users can navigate through the ‘Buy Crypto’ section and use a credit or bank card to make the purchase. Following the acquisition of USDT, traders can select the TOMO/USDT trading pair and finalize their purchase by specifying the desired amount in the ‘Buy TOMO’ tab.
Tomochain’s growth and its potential to alleviate the Ethereum network’s congestion make it an appealing option for investors. The ease of access provided by mainstream exchanges like Binance facilitates the wider adoption and tradeability of TomoChain Coin in the cryptocurrency market.