RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Ledger Nano S Announces Support for TomoChain

Ledger Nano S Announces Support for TomoChain

The integration has major implications for this nascent project’s growth prospects and future trajectory. TOMO is already compatible with leading cryptocurrency storage solutions like MyEtherWallet and MetaMask, along with the team’s homegrown TomoMaster and TomoWallet applications.

Tomochain, the public EVM (Ethereum Virtual Machine) compatible blockchain project, has moved towards mass adoption and value creation at a pace that’s fast even by crypto standards. After launching the platform’s mainnet in December, 2018, the TomoChain team has rapidly accrued industry partners, early adopters, and talented developers from across the world.

TomoChain displayed on a Ledger Nano S hardware wallet

Now, the blockchain has been integrated with the industry’s most commonly-used hardware wallet – the Ledger Nano S. Tomochain’s Blockchain Technical Researcher Van Cam Pham, recently announced that TOMO tokens were made compatible with Ledger’s hardware and that users can use their Ledger devices to interact with the Tomo blockchain.

The integration has major implications for this nascent project’s growth prospects and future trajectory. TOMO is already compatible with leading cryptocurrency storage solutions like MyEtherWallet and MetaMask, along with the team’s homegrown TomoMaster and TomoWallet applications.

Adding Ledger hardware compatibility will enable millions of new users to adopt and interact with Tomochain’s ‘smart blockchain computer’ solution. Since inception, over 1.5 million Ledger Nano S devices have been sold, with shipments growing despite the downturn in the cryptocurrency market over the past year.

Unlike Ethereum, Tomochain relies on a novel consensus mechanism known as a Proof of Stake Voting (PoSV) which realigns incentives for users and stakers on the network. This bolsters the security of the platform and makes near-zero transaction fees and 2-second confirmations possible.

The underlying framework also allows the network to process multiple times more transactions than Ethereum’s legacy network. While Ethereum can only process 15 – 25 transactions per second (tps), TomoChain promises 1,000 tps and beyond.

Despite the differences in design and features, all decentralized applications or dApps and ERC 20 tokens created on the Ethereum network are compatible with TomoChain, making developer migration easier.

Meanwhile, the Tomo team continues to partner with industry leaders such as the the Georgian National Blockchain Agency (GNBA) and the development team that created the decentralized battle game Axie Infinity.

All these developments over the past few months have sent the TOMO price skyrocketing. Each token was worth $0.17 when the mainnet launched and is now worth $0.56, a return of 229% over three months.

A growing number of partnerships, users, market price, and compatible wallets is setting the stage for the mass adoption of TomoChain’s unique solution to Ethereum’s woes.

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