The Open Network: Intro to the TON Crypto Ecosystem
TON — which stands for “The Open Network” — is a community-driven blockchain project designed to enable fast transactions and support a wide variety of decentralized applications (dApps). The project was originally established by the company that created the popular encrypted messaging application Telegram. However, after facing scrutiny from the U.S. Securities and Exchange Commission (SEC), Telegram eventually abandoned the project in May 2020.
Despite Telegram’s relinquishment of the project, the TON blockchain initiative was soon brought back to life through the efforts of its passionate community of developers and blockchain startups that took it upon themselves to resurrect the project as a decentralized autonomous organization (DAO) with the goal of achieving the project’s original vision.
There are now multiple concurrent community-run networks that claim ownership over the TON token ticker. The most advanced project to date, FreeTon, has matured into a fully decentralized network capable of supporting a wide range of dApps and complex smart contract deployments. Additionally, the project has successfully created a bridge to the Ethereum network, which enables its native token, TON Crystal (TON), to be traded and used across the entire Ethereum-based decentralized finance (DeFi) ecosystem in the form of wrapped TON (wTON). Wrapped cryptocurrencies are tokens that are 1:1 representations of other crypto assets. They enable crypto assets to be used on blockchains to which they are not native.
How FreeTON Supports the TON Crypto Protocol
FreeTON is a community-centric project driven by a venture-backed company called TON Labs, which collaborated with Telegram on its original TON blockchain testnet. FreeTON uses a Proof-of-Stake (PoS) protocol to achieve on-chain consensus, and is designed with an eye toward handling millions of transactions per second (TPS) if necessary. This speed is supported by a scaling technique called sharding, which partitions data storage and processing responsibilities to smaller validator groups. This diffusion of responsibility results in lower transaction latency and higher throughput than often found in many blockchains that tend to operate as a single state layer.
The FreeTON network supports application development in several traditional computer languages such as C and C++, as well as the Web3 language Solidity popularized by Ethereum developers. While this project is legally and operationally separate from Telegram, FreeTon has adhered to the original project’s goal of becoming a decentralized “super server” network that can be made available to everyone from ordinary individuals to public and private organizations.
FreeTON also recently launched TON Swap, a decentralized exchange (DEX), which claims to be faster and cheaper than Ethereum-based DEXs like Uniswap and is actively developing new yield farming and non-fungible token (NFT) offerings. Many of the project’s newer initiatives are coordinated through the FreeTON DeFi Alliance, a non-profit organization established to accelerate the project’s developmental goals.
TON Crystal and Wrapped Ton (wTON)
The native token of the FreeTON crypto network — TON Crystal (TON) — is used by participants to pay transaction fees. Users can also stake their TON tokens in order to secure the network and receive block rewards. Additionally, TON also serves as a governance token for the FreeTON network, meaning TON crypto holders can suggest and vote on governance proposals that impact the project’s development trajectory.
While the TON token was initially contained within FreeTON’s native ecosystem, in April 2021 the project launched a TON-Ethereum bridge, which allows crypto assets to be traded freely across the two networks instantaneously and with near-zero fees. FreeTON users can convert their TON tokens for use on the Ethereum network by locking their TON in a dedicated smart contract, which then mints an equivalent amount of wrapped TON (wTON) on the Ethereum network. Like most wrapped tokens, the minting and burning of wTON can only take place on the network that initiated the cross-network transaction, and wTON can be used freely on the Ethereum network like other ERC-20 tokens. As a result, wTON has two primary purposes:
Liquidity: The availability of wTON on the Ethereum network grants FreeTON access to the liquidity available on the world’s most widely used DEXs and DeFi lending platforms, including Uniswap.
Promoting growth: A second and larger purpose of wTON is to broaden FreeTON’s participation within the rapidly evolving DeFi ecosystem beyond simple token swaps and liquidity provision. FreeTON is still in the early stages of attracting developers and creating its own dApp offerings, and by embracing wTON and a multi-chain future, the FreeTON community hopes to cement a stronger presence among more established blockchain projects.
FreeTON vs. NewTON
While FreeTON is currently the most popular blockchain to have sprung up from Telegram’s original endeavor, not everyone within the community has rallied behind a single banner. Most notably, another community of early TON supporters spun off to create NewTON, which has many of the same goals as FreeTON, but is not as far along in its development. However, the developers behind NewTON were able to acquire ownership of the original TON blockchain’s GitHub and ton.org domain, which has since been populated with information on the NewTON project. As a result, NewTON has gained some traction despite FreeTON’s head start, and the competition over who represents the true embodiment of the original TON blockchain continues to this day.
Despite NewTON’s ownership of the original project’s web domain and GitHub profile, FreeTON has secured rights for the “TON” and “The Open Network” brands in 41 countries, and FreeTON’s token is much more widely traded and used across the broader crypto ecosystem. Further, both FreeTON and NewTON use the “TON” token ticker for their respective native governance tokens, and from a technical standpoint the two projects closely resemble one another, since they are based on the same underlying technology.
Both NewTON and FreeTON have impressive technical credentials, and both networks are capable of supporting instant payments, low-cost transactions, and a wide range of smart contract and decentralized data storage solutions. However, both projects are also still in the early stages of attracting users and building out feature-rich ecosystems.
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ONE of the major influences I watch is the relationship between Etherium divided by Bitcoin. Here I can see BTC’s value being swallowed up by ETH, at the same time fiat money is overwhelmingly coming into the market on both these platforms, thus increasing there own values.

Then I can over lay the two additional charts, charting individually with their current value’s against the USD. Now I can see if either of them are under or overvalued.

Okay with this now, I think of what platforms are the new coins/tokens are being developed on ?? This is also where the money is going and thus changes the relationship between who/what is using either BTC or ETH more of ??

Another large factor. What are BTC and ETH used for now and what are they going to be used for the future??

I see ETH being used more in the future 1 - 4 years than BTC. I expect BTC to increase in value only to be slowly swallowed up (percentage wise) by ETH (and other future not yet developed networks) with the new development of new venture coins/tokens built on the ETH network.

There will be new and more efficient networks to come in the future… Of course, technology doesn’t stop. I don’t wait, I do my best to make good decisions and not ever risk large amounts of money in “any” new emerging market.
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In another sign that crypto is back in vogue, more new tokens have been listed on major digital-asset exchanges in the first half of this year than in all of 2023
On higher-volume exchanges including Binance and Bybit, coin listings are cumulatively up 11.6% to 2,066 in the first six months of the year, according an analysis of select exchanges that CCData conducted for Bloomberg. Among a handful of lower-volume exchanges including CoinJar and BTC Markets, listings are up nearly 32% to 488, the researcher found.
The tally is from so-called centralised exchanges such as Binance or Coinbase Global that hold custody of users' assets. The figure doesn't include the deluge of memecoins that are inspired by internet memes or trends that trade on decentralized exchanges such as Uniswap that allow users to maintain control over their assets. More than one million memecoins have been issued already this year.
The surge in listings on centralised exchanges has been driven by this year's rally in crypto prices, which has been led by market bellwether Bitcoin's more than 50% increase. Expectations for more regulatory leeway have been bolstered by the US approval of Bitcoin and Ether ETFs this year, along with growing speculation that Donald Trump will by more crypto-friendly if he is elected president in November.
"I am optimistic that the shifting political and regulatory stance toward crypto starts driving positive change," said Cosmo Jiang, a portfolio manager at digital-asset firm Pantera Capital. "Specifically, I hope that with regulatory clarity increasing, tokens with real value tied to strong fundamentals will stand out, and those without real value such as memecoins will lose out."
Startups have also once again begun launching tokens, from memecoins to coins used for gaming, as a way to finance operations or expand community support. That's a big change from 2022, when crypto markets crashed following a series of scandals and bankruptcies such as the collapse of the FTX exchange.
The spike in new listings on centralized exchanges is still likely smaller than it was in 2021, according to researcher Kaiko. In 2022, listings were down by more than 50%, and fell another 20% last year, Kaiko said.
Bybit, which has seen its trading volume and market share surge, has been the most prolific lister among higher-volume exchanges, with listings up 83% since the start of 2023, CCData found. Coinbase has been the most conservative, with its listings up 8.2% over the same period, CCData said.
"So far this year, we have a mixed bag, with Binance listing less aggressively than before, but other platforms are stepping up new listings," said Dessislava Aubert, senior analyst at Kaiko. "As a result, the overall number of listings has increased since the start of the rally, but not as fast as during previous cycles."
The new tokens usually help to increase spot trading activity. Bybit's trading volume in June was 33% higher than in December, according to CCData. Binance, the world's biggest crypto exchange, saw trading volume decreased slightly over the same time.
Binance settled charges with the US Department of Justice and several other agencies in November, and agreed to a $4.3 billion fine. It's since tightened listing requirements, and made it tougher for projects and market makers to work with the exchange.
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