The Open Network Foundation (TON Foundation) has made a significant move in its mission to support The Open Network (TON) by officially launching as a Swiss non-profit organization. Switzerland's reputation for technological innovation and its well-defined legal framework for blockchain and cryptocurrency have made it an ideal choice for TON Foundation's headquarters. In this blog post, we'll explore the reasons behind this strategic decision, the benefits it brings to the TON ecosystem, and the Foundation's commitment to transparency and community engagement.

Switzerland: The Hub of Technological Innovation

Switzerland has a rich history of technological innovations across various industries, making it a natural choice for TON Foundation's new home. From precision engineering to cutting-edge research, Switzerland's tech prowess aligns with TON's vision for a thriving digital ecosystem.

Regulatory Clarity for Blockchain and Cryptocurrency

One of the key reasons for TON Foundation's move to Switzerland is the country's clear and precise legal framework surrounding blockchain and cryptocurrency. This regulatory clarity provides a solid foundation for the long-term planning, strategy, and execution of TON Foundation's mission.

TON Foundation's Vision and Mission

Steve Yun, President of TON Foundation, emphasizes the dual advantage that Switzerland offers—credibility and strategic opportunities. The Foundation's mission is to support The Open Network's growth and sustainability, and Switzerland plays a pivotal role in achieving this goal.

Roadmap for Sustainable Growth

By Q4 of 2023, TON Foundation will unveil a publicly available roadmap on its website, www.ton.foundation. This roadmap will guide the Foundation's efforts in educating the public, empowering developers, and expanding the TON ecosystem. It will include details on enterprise partnerships, developer acquisition, user participation, and network growth initiatives.

Commitment to Transparency and Community Engagement

In its new Swiss headquarters, TON Foundation is committed to providing detailed transparency reports. These reports will comprehensively outline the tokenomics of Toncoin and the historical distribution of tokens. Additionally, the Foundation will host an annual event called "Gateway" to engage with the TON community directly, fostering discussions and collaborations across various aspects of the ecosystem.

In Summary

TON Foundation's move to Switzerland marks a significant step toward achieving sustainable, long-term growth for The Open Network. The country's technological expertise and regulatory clarity position it as an ideal base for the Foundation's mission. With a commitment to transparency, community engagement, and a well-planned roadmap, TON Foundation is poised to strengthen and expand The Open Network, putting crypto in every pocket.

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The Open Network (TON) blockchain has resumed operations after a significant outage brought block production to a grinding halt for several hours. The TON Foundation confirmed on August 28 that the network was producing blocks normally once again.
Cause of the Outage:
The disruption was triggered by a surge in activity from the DOGS memecoin airdrop, which overwhelmed the network with congestion. The unexpected influx of transactions caused the blockchain to grind to a halt, leaving users unable to access their assets.
Quick Recovery Efforts:
Validators sprang into action to restore service, working tirelessly to resolve the issue and ensure no assets were lost. Their swift response minimized the impact of the outage, and the network is now functioning as usual.
No Assets Lost:
The TON Foundation reassured users that no assets were lost during the outage, and the network's integrity remains intact. The quick recovery is a testament to the resilience and dedication of the TON community.
Lesson Learned:
The outage serves as a reminder of the importance of scalability and congestion management in blockchain networks. As the popularity of memecoins like DOGS continues to grow, networks must be prepared to handle unexpected surges in activity.
Back to Normal:
With the network fully restored, users can once again access their assets and conduct transactions with confidence. The TON blockchain's swift recovery demonstrates its ability to withstand unexpected challenges and maintain the trust of its users.

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