Tomochain is a scalable smart contract platform which is powered by Proof of Stake voting consensus. Tomochain has planned Zorro upgrade and we will review how this news coupled with technical analysis affects TOMO price.
TOMO enables the development of high performance blockchain projects. It opens the doors for millions of users to use blockchain for the existing applications. It provides a transaction speed of up to 2000 TPS and provides privacy enabled transactions using TomoP Protocol.
Tomochain has announced about the forthcoming Zorro Upgrade which is scheduled to occur on 22nd January at block number 30915660. Zorro upgrade will enhance the blockchain with an updated EVM.
Kyn Chaturvedi from Tomochain quoted: “This upgrade will elevate Tomochain’s capabilities, making the network suited to hosting enterprise applications that can operate at scale. Making it easier for developers to build on Tomochain, through upgrading its EVM, is a vital step in realizing this goal.”
This Zorro upgrade will include the upgrade to the latest version of Solidity and would provide an easy cross interface for developers to migrate and deploy codes from other Ethereum Virtual Machines without many tweaks to the code base.
This Zorro upgrade will help Tomochain to enable its DEFI protocol Trifecta, a trio of TomoX, TomoZ and TomoP. The Zorro upgrade will also change the cancellation fee for TomoX. TomoX is the DEX protocol based on Tomochain. It is a permissionless order book based DEX which has a shared liquidity book across all DEXs. It provides instant trades and has zero gas fees. The new cancellation fee after the Zorro upgrade will be 0.001 TOMO for all TOMO pairs and 0 for non TOMO pairs.
Technical Analysis: TOMO / USD – Price Prediction
TOMO is currently trading close to the resistance of $1.41. If it can break this resistance, we could start seeing a move towards $1.55, $1.69, $2.12 and $2.39. Failure to break the resistance could lead to a drop towards $1.25, $1.10 and $0.93.
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