Tomi Unveils tomiChain: Revolutionizing Ethereum Scalability and Accessibility November 10, 2023 November 10, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsNovember 10, 2023 by Kelly Cromley

Tomi Unveils tomiChain: Revolutionizing Ethereum Scalability and Accessibility

In a groundbreaking announcement during Binance Blockchain Week in Istanbul, Tomi, a DAO-governed Web 3.0 infrastructure project, revealed its latest development—tomiChain. This layer two scaling solution is set to redefine the scalability of Ethereum, offering a more accessible and reliable global scaling solution.

 

Transformative Features of tomiChain

TomiChain introduces a paradigm shift by enabling multi-token transactions, allowing users to send and receive multiple assets simultaneously. The announcement marks a significant milestone as it paves the way for the first-ever transferability of both tokens and NFTs in a single transaction. Additionally, tomiChain promises affordable transaction fees, user-friendly interfaces, and novel data policies to enhance the end-user experience.

 

Overcoming Blockchain Challenges

The inherent technical challenges of blockchain technology often impede its widespread usability for the average user. Ethereum, despite its numerous unique characteristics, faces obstacles such as expensive and slow transactions, hindering the broader adoption of blockchain technology. Tomi recognizes these challenges and has strategically partnered with zkSync, an Ethereum-scaling protocol leveraging zero-knowledge (ZK) technology, and ANKR, a builder of multi-chain tools.

 

Leveraging zkSync for Enhanced Performance

By leveraging zkSync’s ZK cryptography, tomiChain aims to achieve over 2,000 transactions per second, a significant leap from Ethereum’s current throughput of around 15 transactions per second. This substantial improvement in scalability addresses a critical bottleneck for Ethereum, making it more conducive to mass adoption.

 

Tackling High Gas Fees and Introducing a Circular Economy

Apart from scalability, tomiChain addresses Ethereum’s high gas fees by introducing a shared gas-fee model. This innovative approach divides the fees among network operators, token creators, and wallet developers, creating a circular economy that incentivizes active participation in the network.

 

Key Features of tomiChain

Beyond scalability and gas fees, tomiChain brings forth several key features:

 

Automated Payments: Introducing automated payment features akin to subscription-based models, enabling recurring billing for both subscribers and app developers.

 

No-Code Generator and DAO Framework: Simplifying the onboarding process for new assets and communities, fostering a more inclusive and diverse ecosystem.

 

DOP Integration: Native integration with the Data Ownership Protocol, empowering users with complete control over their data in every interaction.

 

Tomi’s Vision for a Decentralized Internet

Led by seven leaders in the crypto industry, Tomi is actively developing an alternative and decentralized internet governed by a DAO. The vision, embodied in tomiNet, aims to counter censorship, uphold privacy, and champion freedom of expression. TomiChain, as the central component of the tomiNet infrastructure, will play a pivotal role in all future product launches, contributing to the realization of a truly decentralized online ecosystem.

 

Conclusion

In conclusion, tomi’s unveiling of tomiChain signifies a major advancement in Ethereum scalability, addressing longstanding challenges and unlocking new possibilities for the broader adoption of blockchain technology. With its innovative features and strategic partnerships, tomiChain emerges as a transformative solution at the forefront of Web3.0 evolution.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.