Neo and TomoChain, a public blockchain with smart contract functionality, have announced a strategic partnership. The two entities aim to “[leverage] their respective strengths to accelerate ecosystem development” by attracting users and talented developers.
The public blockchain platforms believe they can enhance both ecosystems by offering “events designed to educate and encourage developers to build dApps on both TomoChain and Neo.” A primary goal of these events is to help developers gain end-users by building, localizing, and accessing distribution channels.
In September 2019, Neo Global Development (NGD) held a closed round table symposium with various Asia-based blockchain projects. Kyn Chaturvedi, CBDO of TomoChain, participated in the event, where he discussed potential upcoming blockchain regulations in Southeast Asia and how exchanges are looking to become banks. On the partnership, Chaturvedi said:
We are proud to be partnering with Neo on co-ecosystem development. This collaboration underscores our collective beliefs that cooperation among blockchains will be a pivotal driver for the next wave of adoption. Through combining efforts, developers will have access to greater resources and a larger network of end-users across multiple geographic regions, powered by both blockchains.
In the press release, Neo Global Development (NGD) director of EcoGrowth, John Wang said:
As blockchain adoption accelerates, Neo and TomoChain look forward to collaborating to build the developer-friendly infrastructure and facilitate enterprise-grade blockchain adoption. Moving forward, I am confident that our united strengths will further empower developers while taking us closer to the smart economy of the future.
TomoChain is a public blockchain platform that seeks to be an “ideal scalable smart-contract public blockchain for decentralized apps, token issuances, and token integrations for small and big businesses.” The public blockchain claims that it can support near-zero fees and two-second transaction confirmation times. The TomoChain MainNet has been live since December 2018.
TomoChain’s Proof of Stake Voting (PoSV) consensus mechanism offers the ability to monitor and govern its 150 masternode network. Entities must stake 50k TOMO coins to become a masternode, as well as receive approval via a public voting process.
Additionally, TomoChain aims to support all Ethereum virtual machine (EVM)-compatible smart-contracts, protocols, and atomic cross-chain token transfers.
The full announcement can be found at the link below: