Why will TonCoin cost $10? 👇🏼
TON is a crypto project with an amazing destiny. The project, once created by the Telegram team, eventually ended up in the hands of independent developers. We'll tell you what TON looks like today and what its cryptocurrency, Toncoin, is.
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What is TON: review of the project and cryptocurrency Toncoin ⠀
What is TON
TON is short for The Open Network. The project is a decentralized Internet platform whose task is to solve the problem of scalability and poor compatibility of blockchains. The developers also support the concept of the third generation Internet - Web3.
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TON for payments
The developers position The Open Network as a platform for organizing payments.
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“TON is capable of processing millions of transactions per second (TPS) to ultimately reach hundreds of millions of users,” the project description says.
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To demonstrate the effectiveness of The Open Network, the developers have published a comparison table. It follows from this that TON is ahead of Ethereum in terms of block formation time (5 seconds versus 12 seconds). The Open Network is also significantly ahead of its competitors in terms of transaction processing speed. The time until transactions are completed in the TON network is up to 6 seconds, while for Ethereum it is 10-15 minutes, and for Solana it is 6.4 seconds.
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TON also surpasses its competitors in many technical parameters. For example, sharding technology was implemented in the project network. It involves dividing one large database into many smaller ones. Each small database shard is placed on a separate server. This design simplifies data control and improves network reliability and performance. The technology is supported by Ethereum, but not by Solana. At the same time, communication between shards in TON is faster than in Ethereum.
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Greetings from Telegram The Open Network is a descendant of the Telegram crypto project - Telegram Open Network (TON), which the messenger team was never able to launch due to regulatory pressure. Since the developments were in the public domain, several development groups took them as the basis for their own projects. This is also what The Open Network team did.
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“A decentralized and open Internet created by the community using technology developed by Telegram,” is how the developers themselves describe TON on the project’s official website.
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The Telegram team supports The Open Network. For example, the messenger used the TON blockchain to launch its short domain name service. The platform supports payment in The Open Network cryptocurrency - Toncoin (TON).
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Despite the refusal to further work on the Telegram Open Network, the messenger team is not abandoning attempts to develop its own crypto initiatives.
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Interesting! As a whitepaper, a document created by the brother of Telegram founder Pavel Durov, Nikolai Durov, for the Telegram Open Network still hangs on the TON website.
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What does the TON ecosystem consist of?
The ecosystem of the TON crypto project consists of four main elements. Here they are:
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Blockchain of the first level (layer1) TON. The main component that unites the entire project ecosystem.
Domain name system TON DNS.
TON storage system.
Site TON.
There are several sections available to users on the TON website:
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💰Cryptocurrency wallets that support the project’s native token - Toncoin (TON).
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💸Services within whose walls you can sell or buy Ton Coin.
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⚡️Staking section. To become a validator in the project network you will need to block 300,000 TON. To open a validator pool you need 10,000 TON.
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💳Setting up payments in TON.
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🔎Explorer of applications built on the TON blockchain.
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🌫Bridge for transfers between The Open Network, Ethereum and Binance Smart Chain.
📑Registration of .ton domains. With its help, you can create a domain for a wallet, smart contract or website. For example, the long crypto wallet address bc1ql49ydapifjafl3t4cp9zqpjwe6pdgmxy99428v2 can be turned into alice.ton. Such a domain will simultaneously reflect the user’s username on the network and serve as a wallet address. Here's what the cryptocurrency transfer will look like in this case:
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TON roadmap
The crypto project website presents a roadmap that reflects the already implemented tasks and plans of the developers. In it, the TON team separately sets out goals for the development of the blockchain, proxy service, payments section and storage.
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Cryptocurrency Toncoin (TON)
The “descendant” of the Telegram crypto project - The Open Network - has a native token - Toncoin (TON). Cryptocurrency serves as a connecting link in the project ecosystem. With its help, you can pay commissions and make transactions, as well as earn money from staking.
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The Tone Coin cryptocurrency, like most other coins, reached its absolute maximum value in the fall of 2021 - during the previous peak of growth in the digital asset market.
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The Toncoin rate is greatly influenced by the actions of Telegram. News about the integration of Ton Coin into messenger services has repeatedly provoked an increase in the value of the coin.
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Telegram’s interest in Toncoin is a reason to consider cryptocurrency for investment.
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