TomoChain, introduced it’s high-performance and anonymous transfer protocol TomoP to the community. And it promises to roll out a public testnet by February 2020. With TomoP, TomoChain intends to execute safe transactions that will be untraceable on its public blockchain.
According to the TomoP Paper, the blockchain protocol allows the creation of anonymous transactions. Precisely speaking, users can hide the sender and receiver details. Along with that, the transaction values can also be kept private. It is the first-ever EVM compatible protocol to completely anonymize the transactions. Additionally, TomoP requires no intermediary layer to completely privatize these transactions.
For Monero users, TomoP transactions might sound much Monero transactions. But the TomoP transactions are going to be packed in a smart contract. And these will be executed on a very fast blockchain TomoChain.
Blistering Fast transactions
Existing privacy coins make users compromise on the speed of the transactions. From a non-conservative perspective, Monero’s transaction processing time is over 2 mins. Other competitors like Zcoin and Zcash transaction processing time is also close to 2.5 mins. TomoP takes an entirely different approach. To be a high-performance privacy protocol as it promises to be, it operates as a DApp. TomoP transaction confirmation time will range between 2-4 seconds.
With its unique architecture, TomoP does not require a relayer. The relayer basically switches the transaction from the public to private. Thus it is able to maintain complete transaction privacy in a decentralized manner. As it uses TomoZ, the transactions are always going to gasless.
TomoP will support private transactions for tokens like Tomo, TRC21P as well as BTC, ETH, and USDT.
Dual Key System
TomoP will support a dual key system. And this ensures the private transactions can be viewed by regulatory authorities. But only when authorized by the user.
Additionally, the SDK’s and SDK documentation will help TomoP integration to exchanges and third-party wallets.