{"id":165689,"date":"2021-01-29T05:28:28","date_gmt":"2021-01-29T02:28:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/luaswap-using-tomochain-for-backend-transactions\/"},"modified":"2021-01-29T05:28:28","modified_gmt":"2021-01-29T02:28:28","slug":"luaswap-using-tomochain-for-backend-transactions","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/luaswap-using-tomochain-for-backend-transactions\/","title":{"rendered":"# LuaSwap using TomoChain for backend transactions"},"content":{"rendered":"<p>&#8220;<strong># LuaSwap using TomoChain for backend transactions <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvYjY5OGQ1MGMtNzBiMi00ZWNhLWFmNmEtMmM1YjM0ZDMwY2M3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>The number of projects adopting layer-two solutions for Ethereum\u2019s scaling woes is increasing, with\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.luaswap.org\/#\/swap\">LuaSwap<\/a> rolling out a new, TomoChain-based exchange engine yesterday.<\/p>\n<p>The change will enable the Uniswap inspired exchange to perform token swaps with greater speed and efficiency than many rival Automated Market Maker ERC-20 exchanges.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/LuaSwap?src=hash&amp;ref_src=twsrc%5Etfw\">#LuaSwap<\/a>  version on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TomoChainANN?ref_src=twsrc%5Etfw\">@TomoChainANN<\/a> blockchain is live, entirely open to all <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24TOMO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TOMO<\/a> and Ethereum projects <br \/>Users can now experience another <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LUA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LUA<\/a> version with: <br \/>\u2714\ufe0f Super speed<br \/>\u2714\ufe0f Near-zero gas fees<br \/>\u2714\ufe0f No network congestion<\/p>\n<p>Details: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Be8claDkgT\">https:\/\/t.co\/Be8claDkgT<\/a><\/p>\n<p>\u2014 LuaSwap (@LuaSwap) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LuaSwap\/status\/1354428609008525318?ref_src=twsrc%5Etfw\">January 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>While LuaSwap remains an Ethereum-based <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication, transactions related to conversion processes are now performed using the TomoChain blockchain, instead of Ethereum. <\/p>\n<p>TomoChain employs block lengths of two seconds, and boasts transaction fees that are considerably cheaper than Ethereum&#8217;s mainnet. As such, swaps that might normally cost $10 or $20 on Ethereum can be executed for just a few cents on TomoChain.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">LuaSwap is now live on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24TOMO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TOMO<\/a> blockchain!<\/p>\n<p>LuaSwap makes AMM trading possible for both <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> and TomoChain based tokens.<\/p>\n<p>The big difference? Near-zero gas fees. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FetZYqInFL\">pic.twitter.com\/FetZYqInFL<\/a><\/p>\n<p>\u2014 Upblock (@upblock_io) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/upblock_io\/status\/1354500953500741636?ref_src=twsrc%5Etfw\">January 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A newly launched<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bridge.tomochain.com\/\"> TomoBridge<\/a> makes it possible to transfer any two assets between the Ethereum and TomoChain blockchains by wrapping tokens. The process leverages a recent upgrade to TomoChain, which allows any ERC-20 token to be wrapped and imported to TomoChain as a TRC-21 token.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Zorro Upgrade, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TomoChainANN?ref_src=twsrc%5Etfw\">@TomoChainANN<\/a>&#8216;s latest mainnet version will pay the way for upcoming <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/LuaSwap?src=hash&amp;ref_src=twsrc%5Etfw\">#LuaSwap<\/a> implementation on TomoChain, with more speedy transactions &amp; cost-effective gas fees <br \/>LuaSwap lovers, are y ready to switch to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/TomoChain?src=hash&amp;ref_src=twsrc%5Etfw\">#TomoChain<\/a>?<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24TOMO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TOMO<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/hbYW6ZMp3b\">https:\/\/t.co\/hbYW6ZMp3b<\/a><\/p>\n<p>\u2014 LuaSwap (@LuaSwap) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LuaSwap\/status\/1349196143771623426?ref_src=twsrc%5Etfw\">January 13, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At present, transaction fees on LuaSwap are often higher than gas fees on Uniswap due to a lack of liquidity for tokens on the TomoChain side of the bridge. However, said problem is expected to be resolved when a sufficient number of liquidity providers have created LuaSwap<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/luaswap\/luaswap-is-live-on-the-tomochain-blockchain-3cff47f4c320\"> pools<\/a> on TomoChain.<\/p>\n<p>TomoChain is just one of a number of layer-two solutions, including Matic and Optimism that aim to help to resolve Ethereum\u2019s scaling issues.<\/p>\n<p>On Jan. 19, TomoChain<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/tomochain\/tomochain-joins-forces-with-injective-protocol-ramp-defi-to-launch-cross-chain-staking-cc9fc19293ec\"> announced<\/a> a partnership with Ramp DeFi to provide unique trading opportunities made possible by recent developments in blockchain interoperability.<\/p>\n<p>In Nov. 2020, TomoChain chief business development officer Kyn Chaturvedi told Cointelegraph he believes crypto traders are on a one-way march from centralized to decentralized exchanges, noting that the \u201ctrustless, anonymous, easy access nature that comes with DEXs\/DeFi\u201d cannot be beaten by traditional exchanges.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/luaswap-using-tomochain-for-backend-transactions\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# LuaSwap using TomoChain for backend transactions &#8221; The number of projects adopting layer-two solutions for Ethereum\u2019s scaling woes is increasing, with\u00a0LuaSwap rolling out a new, TomoChain-based exchange engine yesterday. The change will enable the Uniswap inspired exchange to perform token swaps with greater speed and efficiency than many rival Automated Market Maker ERC-20 exchanges&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":165690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvYjY5OGQ1MGMtNzBiMi00ZWNhLWFmNmEtMmM1YjM0ZDMwY2M3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74868,74891,76341,74892,74880,88700,72927,4965],"class_list":["post-165689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-defi","tag-ethereum","tag-scalability","tag-tokens","tag-transactions","tag-uniswap","tag-fees","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/165689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=165689"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/165689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/165690"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=165689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=165689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=165689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}