Binance Heaps Praise After Listing Giant Altcoin
The world’s largest cryptocurrency exchange, Binance, has heaped praise on the project after listing The Open Network (TON) coin.
Binance announced last week that it will list Toncoin, the TON ecosystem’s own cryptocurrency, on the exchange with the “Seed Tag” tag.
Toncoin can be used for various purposes within the TON ecosystem, such as paying gas fees, handling transaction fees, and paying fees related to storage transactions. TON is also used to act as a blockchain validator.
Highlighted its connection with Telegram
A research report published by Binance stated that “The Open Network offers scalability, fast transactions, and a flexible multi-blockchain architecture. Although it faces some challenges, its integration with Telegram and robust design provide it with a strong foundation.”
It was stated that TON has a capacity of millions of transactions per second, can work with other blockchains and dApps, is more energy efficient and decentralized compared to cryptocurrencies that work with PoW such as Bitcoin.
It was emphasized that the project, which is connected to Telegram, can be used in payment transactions, decentralized finance, content distribution, gaming and social media.
The Binance report said, “As a community-based project, TON has great growth potential, and this could pave the way for a much more decentralized and interconnected digital ecosystem.”
