2024-08-26
The Open Network (TON) is a
blackchain platform that was originally developed by the messaging app
Telegram.
Telegram has over 900 million monthly
active users and TON can leverage Telegram’s vast user base. Telegram focuses
on privacy and it can support the idea to create decentralized TON blockchain.
TON was designed to provide a
decentralized platform that could support a wide range of decentralized
applications (dApps), microservices, and cryptocurrencies.
Furthermore, TON offers a scalable
and efficient blockchain with fast transaction speeds, low costs, and high
throughput.
panteracapital.com/blockchain-letter/ton-our-largest-investment-ever
TON has time to finality of 6 seconds.
TON can process 100,000 transactions per second.
The TON blockchain, formerly known as
Telegram Open Network, was initially launched by Telegram.
However, Telegram withdrew from the
project after the US Securities and Exchange Commission declared that
Telegram’s sale of tokens called “Grams” violated federal securities laws.
Due to regulatory challenges,
particularly from the U.S. Securities and Exchange Commission (SEC), Telegram
abandoned the project in 2020.
Despite this, the TON project was
picked up by an independent community of developers who continued its
development under the name The Open Network or simply TON.
TON’s Key Features
Sharding
TON uses a
multi-blockchain architecture with dynamic sharding, which allows it to scale
efficiently by splitting and merging chains based on load. This design aims to
ensure high transaction speeds and low fees.
Consensus Mechanism
TON uses a Proof-of-Stake (PoS)
consensus mechanism, where validators stake their tokens to participate in
transaction validation and receive rewards.
Smart Contracts
TON supports smart contracts, enabling
developers to build decentralized applications and services on the network.
TON uses the FunC programming language
and TON Virtual Machine (TVM) to create and deploy smart contracts.
Toncoin (TON)
The native cryptocurrency of the TON
network is called TON Crystal, or simply Toncoin (TON), which is used for
transaction fees, staking, and as a form of payment within the ecosystem.
Ecosystem
The TON ecosystem includes a variety of
tools, including a decentralized file storage system (TON Storage), a DNS
system (TON DNS), and a secure messaging service (TON Proxy).
Notcoin is the most successful project
on TON.
Notcoin (NOT) is a "tap-to-earn"
game. It is a new cryptocurrency launched in 2023, built on the TON (Telegram
Open Network) platform. It is a "tap-to-earn" game.
The Open Network aims to create a
decentralized, scalable, and secure blockchain platform capable of supporting
mass adoption, including integration with services like messaging apps,
payments, and more.
