What is Viction?
Viction is a layer 1 blockchain network that was previously known as TomoChain. In November 2023, TomoChain officially rebranded to Viction to align with its strategic partnership with Coin98. Viction aims to become the core infrastructure for Coin98's ecosystem development, similar to the relationship between Ethereum and MetaMask.
Some key things to know about Viction:
- It is a public blockchain focused on scalability, fast transaction speeds, and security.
- Transactions on Viction are confirmed within 2 seconds on average.
- The maximum transaction per second (TPS) capability is over 2,000.
- It utilizes a proof-of-stake (PoS) consensus mechanism.
- The native token is now called VIC (previously TOMO).
History and Development
TomoChain was launched in 2018 by a team of experienced blockchain engineers based in Vietnam. Some major milestones include:
- Reaching a market cap top 100 position on CoinMarketCap in early 2019.
- Launching the TomoZ protocol in Q3 2019 to allow gas fees to be paid in any TRC21-based token.
- Partnering with the Vietnamese Ministry of Education and Training in 2020 to securely store millions of certificates on the blockchain.
- Strategic investment from Coin98 in May 2023 to support ecosystem development.
- Official rebranding to Viction in November 2023.
Viction continues to develop its core infrastructure and protocols like Viction Zero Gas (previously TomoZ). It also aims to expand its ecosystem through partnerships.
Tokenomics and Distribution
The native VIC token serves the purpose of paying transaction fees and securing the network via staking rewards. Initial token allocation:
- Token sale: 55 million VIC
- Team: 12 million VIC
- Strategic partners/ecosystem fund: 16 million VIC
- Block rewards: 17 million VIC
Over 80% of the total supply was distributed during the token sale in 2017-2018 at prices ranging from $0.125 to $0.25. VIC remains an integral part of participation and governance on the Viction network.
Technology and Use Cases
Viction utilizes a delegated proof-of-stake (PoS) consensus algorithm. It can currently process over 2,000 transactions per second (TPS) with an average block time of 2 seconds.
Some key technical aspects and protocols include:
- Viction Zero Gas (formerly TomoZ) - Allows gas fees to be paid in any VRC25-based token.
- Cross-chain interoperability - Supports transferring assets between chains via bridges.
- Developer tools and SDKs - Makes it easy to build decentralized applications (dApps) and exchanges.
Real-world use cases Viction powers include decentralized finance (DeFi) applications, non-fungible tokens (NFTs), digital identity solutions, and more. It aims to become the preferred blockchain for the Coin98 ecosystem.
Roadmap and Future Outlook
Looking ahead, Viction will focus on further maturing its core infrastructure while expanding the developer community. Its roadmap prioritizes enhancements to Viction Zero Gas and integration with Coin98 flagship products. Pursuing additional strategic alliances across Southeast Asia is also a priority.
If the project continues executing ambitiously on this vision, many analysts believe Viction can emerge as the leading Layer 1 in a region with massive blockchain growth potential. Successful progress in 2023-2024 will be telling for the project's longer-term viability and adoption prospects.
In summary, Viction presents an compelling opportunity for technology, investment and partnership. With the right execution, it stands poised to power innovative applications for years to come in Southeast Asia's digital economies. Continued progress merits close observation.
Market Potential and Investment Opinion
With its strategic partnership with Coin98, Viction is well-positioned to capture growth opportunities within one of Southeast Asia's largest blockchain ecosystems. Some positives for investors include:
- Proven technology with strong scalability, speed, and security.
- Experienced founding team with a track record of execution.
- Alignment with a major player (Coin98) looking to expand regionally.
- Continued development of core protocols and partnerships.
- VIC token upside from network growth and staking rewards.
While competition remains fierce, Viction offers investors exposure to an established layer 1 project tapping into new opportunities. For long-term investors with a moderate-to-high risk tolerance, VIC presents an intriguing investment opportunity. Continued progress and execution will be key.
Frequently Asked Questions (FAQs)
What is the difference between TomoChain and Viction?
TomoChain rebranded to Viction in November 2023 to align with its strategic partnership with Coin98. The core technology, tokenomics, and protocols remain largely the same, with a focus on further expanding the ecosystem.
How can I purchase VIC tokens?
VIC tokens can currently be purchased on major centralized exchanges like Binance and Gate.io. They can also be obtained by staking TOMO or providing liquidity on decentralized exchanges.
What are the main use cases of Viction?
Viction currently powers applications in decentralized finance (DeFi), non-fungible tokens (NFTs), and digital identity. It aims to become the preferred blockchain infrastructure for dApps built within Coin98's expanding ecosystem.
Is Viction an Ethereum competitor?
While Ethereum remains the dominant smart contract platform, Viction carves out its own niche with a focus on scalability, speed, and serving Southeast Asian markets through Coin98. It is more complementary to Ethereum than a direct competitor.
What is the future roadmap for Viction?
Key focus areas for Viction include further developing its Zero Gas protocol, expanding the developer community, integrating with Coin98 products, and pursuing additional strategic partnerships across Southeast Asia. The team aims to establish Viction as the region's leading blockchain infrastructure.
Conclusion
In summary, Viction appears to be a promising blockchain platform that aims to drive mass adoption through its focus on user-friendliness, low costs and performance. With its unique PoSV consensus protocol, Viction is able to offer very fast transaction times of 2,000 TPS with transaction fees estimated to be around 1/100th of Ethereum's.
This positions Viction well as a low-cost platform ideal for applications needing high-volume transactions like games, social media and NFTs. Viction's upcoming flagship product - the non-custodial Viction Wallet - also aims to simplify and enhance the user experience of interacting with decentralized applications.
The project has made strong technical progress since its inception as TomoChain in 2017. The rebranding to Viction in 2023 signals the team's strategic focus on mainstream adoption beyond just cryptocurrency users. As the developer ecosystem and product offerings like OneID continue to expand, Viction has the potential to emerge as a leading platform for mainstream decentralized applications and digital services.
With a growing suite of user-friendly interfaces coming online, Viction appears committed to tackling the challenges of facilitating widespread blockchain adoption. The project warrants continued observation as it executes on its roadmap and moves closer towards its goal of enabling the mass participation in the decentralized web. For technology-oriented and long-term investors, Viction presents an opportunity to gain exposure to an innovative layer 1 blockchain platform well-positioned for growth.
