TomoChain To Add Support For Terra Stablecoin Cryptocurrency And Cross Chain Stability
The TomoChain has been known for the scalable smart contract used for public blockchain for the decentralized apps, together with the token issuance and some token integration for different businesses in the market. They went ahead to announce that they have formed a powerful partnership with the Terra company.
#TomoChain is pleased to announce that we have formed a partnership with @terra_money, the price-stable cryptocurrency project building the next-generation payment system on the blockchain. https://t.co/SA9PTtzJAd
— TomoChain (@TomoChainANN) November 19, 2018
The Terra company is known as the price stable for the crypto project that has been building the next generation payment system that will be used in the blockchain market.
Both Terra and TomoChain will be working to implement the Terra Cross Chain Stability Mechanism. A project that will be designed to allow the decentralized apps for TomoChain developers to incorporate the Terra system to be used as the mode of payment.
A Lot To Expect From This Partnership
They will also be engaging in various platform evaluations and providing the needed technical support, for the primary purpose of ensuring they are providing stable services all through. All this is being done just to ensure that both companies are providing an easy onboarding to ensure that the overall acceptance of the blockchain technology is accelerated.
According to the founder of TomChain, Long Vuong, they are very excited about this partnership with the Terra company; he firmly believes that the partnership will be able to open the gateway to an explosion in the acceptance of the blockchain technology.
Both companies are bringing forth desirable features, TomoChain being an innovative solution that has been used to the scalability problems of the blockchain technology, while Terra is the creative solution that is used in price volatility of the crypto coins.
He goes on to state that having the stable coins within the TomChain platform, they will have the power to release more use cases than what has been seen currently on the blockchain.
The co-founder of Terra, Daniel Shin also goes on to state that the company has been building a universal payment system used in the blockchain. He firmly believes that the blockchain network can have the ability to interact and even integrate with each other, for them to achieve this it will be a significant milestone achieved through the partnership.
TomoChain has also been focusing its efforts on solving the usability plus scalability issues that have been in the market, and from this, both companies were able to immediately struck a chord.
A Little About TomoChain
The company was established as an innovative solution to the scalability problems that is witnessed within the industry; it is in Ethereum blockchain together with the other blockchains in the market. The company relies on the 150 Master nodes plus the POSV, Proof of Stake Voting. A system that is able to support the near-zero fee and the important two second transaction confirmation time.
Through the novel techniques, the company is able to guarantee stability, security and some level of chain finality. The platform is also able to support the EVM compatible, protocols, smart contracts and the atomic cross chain token transfers. It also has some new scaling techniques like the private chain generation, EVM parallelization and some hardware integration that will be researched continuously and be incorporated into the TomoChain Master node. With this, it will make it an ideal smart contract that will be scalable to the public blockchain used for the decentralized apps.