The Open Network (TON) is a Layer-1 blockchain ecosystem deeply integrated with Telegram and built upon a Proof-of-Stake algorithm.
TON is the native utility token. The current use cases for TON include:
Commission ("gas") paid to TON nodes ("validators") for processing transactions and smart contracts
Stakes deposited by validators to be eligible to validate transactions and generate new blocks and coins
Payment for services provided by apps built on the platform (TON Services)
Payment for storing data securely in a decentralized way (TON Storage)
Payment for registering blockchain-based domain names (TON DNS) and hosting TON-sites (TON WWW)
Payment for secure and private internet browsing (TON Proxy)
The core components of the network include:
TON Payments, a lightning network wherein a payment channel can be opened between any two parties, and the transactions are recorded off the blockchain until the channel is closed, upon which the resulting balance of payments is recorded as one transaction, facilitating faster payment times.
The TON Nominator service allows Toncoin holders to lend their assets to the validator nodes, with a smart contract assuring that the Toncoin earned by the validator is distributed to those that lent their assets to the validator.
Another component is TON DNS, which allows accounts, smart contracts, service nodes, and network nodes to purchase a human-readable domain name.
Finally, TON Storage enables users to store files on the TON blockchain.
As at August 13rd 2024, the total supply of Toncoin is 5,110,422,426 and the circulating supply upon listing will be 2,518,269,894
Key metrics (as at August, 13rd 2024)
Community