This article was first published on Metal
Decentralized Finance (DeFi) is a way for anyone, anywhere in the world, to participate in the global economy. If you think about traditional finance, it usually centers on government-issued currencies, centralized banks, and large payment processors. While this may not be a cause for concern for most people, DeFi is a way to navigate around centralized finance institutions while still being able to buy goods and services and move money.
One team that is laser-focused on building a powerful DeFi system that is scalable, usable, and helpful is TomoChain (TOMO). This project is centered on the idea of decentralizing and democratizing finance, much like Ethereum, Bitcoin, and other major cryptocurrencies. However, TomoChain seeks to do this while providing faster transaction times and a lower barrier to entry for individuals wanting to run a node.
This week, we’re excited to team up with the team at TomoChain to add their one-of-a-kind cryptocurrency, TOMO, to our growing cryptocurrency Marketplace. In this blog post, we’ll outline what makes TomoChain unique, why it caught our attention, and what it means for Metal Pay users.
What is TomoChain?
TomoChain is a cryptocurrency project centered on scalability and real-world uses. Utilizing a Proof-of-Stake (PoS) consensus mechanism, TomoChain offers a way for other active users to vote and make their voice heard while building out the TomoChain network. To understand TomoChain, you first need to understand that there are two things being discussed: the blockchain (TOMO), and the TomoChain product ecosystem. This is similar to how, here at Metal, we have the blockchain (MTL), and the Metal Ecosystem (Metal Pay, Metal X, Proton). We’ll expand on these two areas a bit more below.
What is the TomoChain Ecosystem?
The ecosystem being built at TomoChain consists of various partners, liquidity providers, wallets, and decentralized application (dApp) channels. All ...
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