The Open Network (TON) was created as a blockchain for the messaging app Telegram. Due to regulatory issues, the project was given to the community and became open source. TON is popular with over 1.7 billion transactions and 65-87 user transactions per second. Gaming apps like Notcoin and Hamster Kombat helped TON gain traction and become the 6th biggest chain for gaming.
TON is now suited for DeFi and can bring benefits to users in countries with high inflation and limited access to traditional financial products. DeFi participation has increased massively, but faces challenges like fragmented liquidity, difficulty in asset swapping, and speed. TON has the potential to reach 950 million users and is fast and scalable due to its implementation of sharding technology.
Key crypto investors have invested $10 million to expand TON’s capabilities. Elluminex is a project aiming to revolutionize TON-based DeFi by providing an all-in-one solution and DeFi hub. It will include a cross-chain bridge and DEX, low gas fees, fast speeds, and advanced features like farming, an AI portfolio tracker, and pre-market access to upcoming tokens.
The Elluminex Academy will guide people through new concepts. These advancements aim to make TON more user-friendly and increase participation in DeFi on Telegram and TON.
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<p>The post Introducing TON: The Open Network Revolutionizing DeFi and Crypto Adoption with 1.7 Billion Transactions and Over 950 Million Potential Users! first appeared on CoinBuzzFeed.</p>
