TomoZ is a protocol to issue tokens based on the TRC21 standard. TRC21 tokens solve a critical user adoption issue found in nearly every major smart contract platform, including Ethereum: Individual users must hold the native token (Ether, for example) in their wallets to pay for transactions, even when immersed in a dApp’s ecosystem. That’s real friction.
TomoChain’s TRC21 allows users to pay the transaction fee with the same TRC21 token they are already using. That’s a frictionless experience so now users can focus on the experience you provide as a TRC21 token issuer.
Why issue a TRC21 token
on TomoChain Blockchain?
Frictionless experience to send TRC21 tokens without holding the native TomoChain token (TOMO).
Users fees are denominated in your TRC21 token.
Fast transactions: 2 Second confirmation times.
User flow and use case comparison
The Current Token Ecosystem Use case
EtherCoffee is a café that allows you to buy coffee via a mobile app using loyalty points issued as an ERC-20 token, called “eCoffee,” on the Ethereum Blockchain.
The TomoZ/TRC21 Token Ecosystem Use case
TomoCoffee is a café that allows you to buy coffee via a mobile app using loyalty points issued as a TRC-21 token, called “tCoffee,” on the TomoChain Blockchain.
- John wants to redeem his eCoffee for a latte.
- Sally wants to redeem her tCoffee for a cappuccino.
- To redeem, John needs to send his eCoffee to EtherCoffee. John must also hold some Ether (ETH) to pay network transaction fees, but John is a no-coiner and doesn’t have ETH.
- To redeem, Sally sends her tCoffee to TomoCoffee through the mobile app. Sally is a no-coiner, but it doesn’t matter. Unlike ERC-20 tokens, transaction fees are paid in tCoffee itself, so holding native TOMO is NOT required.
- The process for John to open an account on a popular cryptocurrency exchange, complete the KYC process, deposit fiat, buy some ETH, and send the ETH to his eCoffee mobile app takes up to a week.
- The TomoChain network confirmation takes only 2 Seconds! Sally walks away with her cappuccino not even realizing she had used the blockchain.
- Once John receives ETH in the mobile app, he redeems eCoffee for the latte. The transaction takes several minutes at the cash register for the Ethereum network confirmation. John finally gets his coffee! It only took several days and multiple grueling steps.
“ Geared towards mainstream adoption, this solution will encourage users to experiment with blockchain services without having to hold any native tokens ”
Utilize TomoZ protocol through TomoIssuer
A user friendly tool for token issuance
TomoIssuer provides a user-friendly interface
The user interface and back-end mechanism allow any token issuer to issue a TRC21 token in only a few steps.
Deploy a TRC21 token without any coding experience
No prerequisite knowledge about smart contract programming is required
You can customize some parameters such as token supply, token name and minimum transaction fee through TomoIssuer’s dashboard.
TomoZ is a TomoChain on-chain protocol that allows any token holder to transfer tokens without holding TOMO in their wallets. Users pay transaction fees with the same token, which is converted to its TOMO equivalent behind the scenes to power the network.
TomoIssuer is a smart contract that allows any user to issue a TRC21 token in minutes without any programming skills required.
TomoZ removes the friction of having to hold native blockchain coins/tokens to send to other wallets or to interact with DApps. Issuing TRC21 tokens with TomoZ, users will have a smooth experience without even knowing that they are using the blockchain and cryptocurrency technology.
TRC21 is an on-chain token standard integrated within the TomoZ protocol. TRC21 is an extension of the TRC20 smart contract token standard that allows fees to be paid for by the token itself. The TRC20 standard requires token holders to pay for transaction fees with the native TomoChain blockchain token (TOMO).
It is important to note that TRC21 tokens do not affect the role of the native TOMO token within TomoChain. Ultimately, all fees are paid for in TOMO behind the scenes. The TRC21 standard merely relieves the end-user of the responsibility to hold TOMO and shifts it to the token issuer instead. By removing this key point of friction, TomoChain opens up many new avenues on the path to mass adoption of blockchain technology.