TomiEX Launches a Decentralized Exchange With a Delegated Proof-of-Stake Algorithm – Benzinga


The development team of the TomiEX exchange has announced the launch of its decentralized platform operating on the delegated Proof-of-Stake algorithm.

The TomiEX exchange will feature postmining technology for its native TEX Coin and modern specifications that ensure a high quality of algorithmic trading for its users. The exchange will be powered by a reconciliation engine capable of supporting 1,400,000 requests per second, making TomiEX one of the fastest crypto exchanges on the market. At launch, TomiEX will support BTC, ETH, LTC, Ripple, and TEX trading pairs. More coins will be added in the future based on credibility, user base, and liquidity. The exchange will provide versatile cross-platform trading clients for its users on a variety of platforms to ensure high convenience and availability of the exchange on-the-go.

The main engine of the TomiEX exchange will be the TEX coin with a limit of 575 million units issued, which will be tied to the number of platform users. TEX will be based on the Cosmos-SDK framework and will be operating on the Proof-of-Stake (PoS) algorithm. TomiEX intends to halt POS mining once it reaches 200,000 users. The algorithm and TEX issuance will be resumed in case of continued growth.

Of the 15 million initially issued coins, 10 million will be sold at the presale at a starting price of $0.1 per coin and five million will be frozen in the genesis wallet of the developers until the TomiEX exchange is fully released on the market. The presale stage will also feature a 7-level deep bounty program and 30% payments to network members.

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“The TEX coin is not just a unique asset with a highly advanced technological backing, but a powerful marketing tool as well that we intend on using to raise the popularity of the TomiEX exchange. Our users will benefit from the best features of both worlds of blockchain – rewards and highly secure trading in a convenient and fast-paced online environment. We are confident that the TEX coin will be valued by our users for its characteristics and yielding properties,” as stated by Michael Domar, CEO of TomiEX.

Among the features that TomiEX offers its users will be high performance with processing speeds of up to 4,000 transactions per second. Security will be provided by a multi-level access control system to protect against unauthorized entry into the blockchain, two- and multi-factor authorization for access to the personal accounts, and security audits at all stages of project development. The platform will also ensure the reliability of operation even in case of compromise or failure of up to 30% of validators, and high transparency with a voting system provided by the Cosmos framework.

The TomiEX team is planning on launching the first round of the presale of TEX coins. Details of the event will be announced on the platform’s official website and Telegram channel in the near future.

Disclaimer: the writer does not have any relationship or vested interest in TomiEX. Please consult your financial advisor before investing in or using any cryptocurrencies or cryptocurrency exchanges as both pose risk. This article is for educational purposes and does not constitute financial advice.  

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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