Viction
Crypto Overview
Overview
Viction (formerly TomoChain) is a Layer-1 blockchain platform launched in 2017 that aims to provide fast, low-cost, and scalable blockchain infrastructure for decentralized applications (dApps) and enterprise solutions. The project rebranded from TomoChain to Viction in 2023 to reflect its expanded vision.
Purpose and Utility
Viction's primary purpose is to serve as a blockchain platform for building and deploying decentralized applications. The TOMO token is used for: 1) Transaction fees on the network, 2) Staking to secure the network through Proof of Stake consensus, 3) Governance voting on network proposals.
Business Model and Operations
The platform operates through a Proof of Stake consensus mechanism with masternodes. The network supports smart contracts, token issuance, and dApp deployment with a focus on enterprise solutions and gaming applications. All core functionalities align with halal principles as they involve real utility exchange and asset ownership.
Development and Adoption
The project maintains active development with regular GitHub commits and protocol updates. The ecosystem includes various dApps, particularly in gaming and enterprise solutions. While adoption is still growing, this doesn't impact its halal status as limited adoption isn't a sharia compliance concern.
Token Distribution
The initial token distribution allocated 55% to the public, 15% to the team, 15% to strategic partners, and 15% to ecosystem development. Team tokens were subject to a 2-year vesting period, demonstrating commitment to long-term development.
Crypto Impact
To assign a comfort level investing in Viction from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Viction.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.