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TomoZ explained: a leapfrog toward Blockchain Mass Adoption.

1. Alice’s dilemma

There is Alice, and Alice came up with a mind-blowing idea of using blockchain for her business. Naturally, she needs to issue her token which she names ALI. She has been researching which public blockchain to use, but she faces an industry problem: all the current public blockchains require token holders to pay transaction fees in native token. If ALI is issued on Ethereum, ALI holders need some ETH in their wallets to power the transactions. They need to go on exchanges, do KYC, purchase ETH, withdraw ETH from exchanges — all the technical, time-consuming tasks that do not relate to their business with Alice at all. This headache has built a great barrier for non-technical, general users, and may suffocate Alice’s blockchain business idea. This isuntil TomoChain, with its TRC-21 and TomoZ combo, comes onto the stage.

2. What is TRC-21?

TRC-21 is the new standard which defines a new type of crypto token which can be transferred among token holders without TOMO in their wallets. TRC-21 changes the token transaction fee flow from “transaction maker pays masternode in TOMO” to “transaction maker pays the token issuer by the token itself, and the token issuer pays masternode in TOMO”. TRC-21 is expected to be the new standard token for the whole blockchain industry.

3. What is TomoZ?

TomoZ is embedded in the TomoChain mainnet and defines the process of how TRC-21 tokens run in the network. We call it fee-by-any-token protocol, and it does just that. Here are some of its highlights:

4. How TRC-21 and TomoZ work together to solve Alice’s problem

If Alice issues ALI as TRC-21 token, all of her worries no longer exist. When ALI is issued, Alice configures the flat transaction fee for ALI token as 2 ALI, and Alice needs to deposit some TOMO to her wallet to pay the transaction fee to the masternodes. Let’s say Bob is an investor of ALI tokens, and he owns a number of ALI. Now if he transfers 100 ALI tokens to another person, Candice, Candice will receive 98 ALI, and 2 ALI is deducted as transaction fee. Alice will receive 2 ALI from this transaction, and her TOMO wallet will be deducted a small amount of TOMO for transaction fee.

5. TomoIssuer

TomoChain team took a step further to build a tool, named TomoIssuer, to bring TRC-21 and TomoZ to every token issuer’s fingertips. TomoIssuer is a website that enables anyone, even without any programming skills, to be able to issue their TRC-21 tokens within a few minutes.

6. The possibilities of these new concepts

Almost any tokenized business requires tokens to be issued. With the tools I have described in this article, token issuance is now just a few clicks away, and even the most non-traditional blockchain users can join this ecosystem. Here are some examples of the endless possibilities.