As part of a long-term strategic cooperation plan between VNDC and TomoChain, last week, VNDC officially implemented MasterNode on TomoChain platform with the number of up to 600,000 TOMO. Currently, MasterNode, called VNDC Wallet Pro, has ranked 1 among 150 MasterNodes on Tomochain.
The implementation of Masternode TOMO will help VNDC collect an amount of $TOMO generated after each transaction cycle (1 epoch). Accordingly, VNDC will give these rewards to users who own $TOMO on the VNDC Wallet Pro.
It is expected that the interest for users when owning TOMO on VNDC Wallet can be up to 10-12% per year, equivalent to 0.03% per day and be paid daily at 0h00. The minimum amount to receive Staking interest is 100 TOMO. This project will be officially activated on VNDC Wallet starting from 0:00 on September 16, 2020.
Information about Masternode Tomo of VNDC
- Name: VNDC Wallet Pro
- Address: 0x93514e1fd81b55b3d4f95c6770c75ddd3388f525
- Capacity: 600,100.503 TOMO
- Location: VNDC Datacenter, Singapore.
Interested users can update real-time information at master.tomochain.com.
Proof-of-Staking Voting (POSV) consensus is the core mechanism of TomoChain, enabling TomoChain as an EVM-compatible and scalable public blockchain. Thereby, every Ethereum smart contract can be effectively run with almost instant transaction confirmation.
PoSV features its Masternode architecture in which token holders deposit 50,000 TOMO to become a Masternode candidate and receive votes from other token holders. The most voted Masternode Candidates are selected as Masternodes for block creation within a period, called epoch (=900 blocks). Each Masternode takes its block creation in a round-robin manner every 2-second and follows the double validation technique for security reinforcement. A block is finalised if it is signed off by 3/4 Masternodes. At the end of each epoch, the Masternodes that have signed finalised blocks are rewarded. Voters who voted for those Masternodes will also be rewarded.