Ever since Ethereum exposed the mainstream public’s interest in smart contracts, hundreds of competing projects have emerged in the industry. Tron and Tomochain quickly came out as scalable alternatives to the #1 smart contract platform.
These blockchains attempted to offer different consensus models that would provide a more sustainable network in the long term. The idea was to bring smart contracts to the masses, with cheaper transactions and a more democratic economic model.
Today, we try to assess whether you should carry out a TOMO to TRX exchange. To achieve this, we take a look at some fundamentals for these tokens, their tokenomics, and price predictions.
Understanding TOMO
Tomochain came out in 2018, as blockspace demand for Ethereum was reaching a breaking point. After the Cryptokitties debacle and utter saturation of the Ethereum network, Tomochain launched as a scalable, zero-gas layer-1 blockchain.
The main idea was to provide a democratic platform for launching web3 applications such as DEXes, NFT marketplaces, or games. To achieve this, Tomochain uses a network of 150 master nodes that use proof of stake consensus.
To eliminate the need for gas fees, the chain introduced the TRC-25 token standard. This standard allows users to pay for gas with any token on the chain instead of having to hold TOMO tokens.
Worth noting is that the Tomochain team recently rebranded the project to Viction. Consequently, exchanges and crypto aggregators now list TOMO with the VIC ticker. There was no change in tokenomics, meaning 1 TOMO = 1 VIC.
TOMO Tokenomics
The TOMO (now VIC) token has a maximum supply of 100 million. Most of these tokens are already circulating on the market, over 96 million to be more precise.
TOMO underwent an ICO in 2018, where it managed to raise $1 million at $0.25 per token.
TOMO Price Prediction
The TOMO (VIC) token is trading around the $1 mark, offering a 4x increase since its ICO. The token has been gaining decent momentum in the last year, increasing from a bottom of $0.33 in 2023.
Priceprediction.net provides a forecast of $2.03 for 2024, offering 100% growth in the next year. In the long term, this prospected growth rises above 4x, with a target price of $4.28 for 2026.
Understanding TRX
Justin Sun ideated the Tron Network as a direct competitor to Ethereum. After a successful ICO as an ERC20 token on Ethereum, the team migrated TRX to its custom blockchain.
This network provided a much more scalable consensus based on delegated proof of stake using super representatives. Token holders can stake their tokens with these representatives who then verify the transactions on the network.
This allowed Tron to provide very low fees and fast transactions, attracting hundreds of decentralized apps into its ecosystem.
TRX Tokenomics
TRX doesn’t have a capped maximum supply, as validators release new tokens with each new block. Currently, there are over 88 billion TRX out in circulation.
The network generates a block every three seconds, with 16 TRX as rewards for nodes participating in the consensus.
TRX Price Forecast
Tron has performed quite admirably over the last year, especially compared to the rest of the industry. Coming from a yearly low of $0.05 in January 2023, the TRX crypto has been in near-constant growth.
With a current price of $0.1, the TRX cryptocurrency has managed a 2x increase in 2023, similar to TOMO.
Consequently, we expect bullish predictions from Priceprediction.net. The website provides a target of $0.19 for 2024. In the longer term, the price prediction reaches as high as $0.38 for 2026.
Is It Time to Swap TOMO for TRX?
If we follow price predictions, the TOMO and TRX tokens have very similar upside opportunities. However, if we consider their fundamentals and adoption, Tron clearly comes out as the winner. Although their technology is similar, Tron’s marketing team successfully pushes the network among the most used smart contract platforms globally.
Read more:
All You Need to Know About TOMO to TRX Exchange
