The History of Toncoin
November 2019
Telegram Open Network (TON) Testnet 2 is launched, with 5 billion coins minted. A small fraction, equivalent to 1.45% of the supply, is allocated to developers and testers.
May 2020
After the SEC banned Telegram from issuing Grams to investors, Telegram stopped working on the TON ecosystem. Testnet2 tokens are placed in 20 Proof-of-Work Giver smart contracts.
May 2021
Testnet2 was promoted to mainnet by majority vote of network participants. Coins continue to be distributed via Proof-of-Work Giver contracts.
June 2022
Following the initial coin distribution, TON enters a new phase, expanding the number of validators and coins participating in validation. This development improves the stability and security of the network.
Toncoin Use Cases:
Transaction processing fees for smart contracts.
Payment services offered by platform applications.
Contributing to network security through staking.
Fees for cross-chain transactions.
Toncoin is an integral part of the TON on-chain governance program.
Payment for blockchain-based domain names (DNS).
Validator stakes are required to maintain the blockchain.
Payment for TON Proxy.
(COMING SOON)
Payment for decentralized data storage.
Use Get a wallet
Get or sell Toncoin.
