#Telegram , the renowned messaging platform, developed this decentralized layer-1 blockchain in 2018. Even though the initial project was abandoned, the independent community of enthusiasts - the TON Foundation, carried the torch forward. Now known as The Open Network, #TON has been progressively developed since 2020. 🔄🔧
$TON is ranked 17° on Coin Market Cap
Toncoin, formerly Gram, is the powerhouse at the core of the TON network. The original vision was to integrate TON into a user-friendly application that enables clients to seamlessly buy, send, and store funds. With TON, clients can validate transactions or settle payments swiftly and securely. 🎯🔒
TON's developers are committed to building a comprehensive ecosystem that features decentralized storage, an instant payment platform, an anonymous network, and fast/affordable transaction processing, among other services.
Moreover, this platform has earned a reputation for its speed, processing a whopping 55,000 transactions per second in September 2021 - a world record!
And the current TPS could be in the hundreds of thousands or even millions. The best part? It's designed to scale rapidly without performance losses and, importantly, without damaging the environment. 🌍🌿
Originally founded by Nikolai and Pavel Durov, TON transitioned from an idea into a full-fledged product under Telegram's aegis. However, the project faced setbacks due to restrictions from the US Securities and Exchange Commission (#SEC ).
Pavel Durov In 2020, Telegram CEO Pavel Durov withdrew from the project, passing the baton to independent #crypto enthusiasts. Today, the network thrives under the stewardship of Anatoliy Makosov and Kirill Emelianenko from the TON Foundation. ⛓️🌐
Unique and innovative, TON features a multi-level structure based on the principle of sharding or segmentation. This means that the network is composed of multiple subnets (shards), each having a specific purpose, speeding up tasks and increasing efficiency. The TON network offers a host of services - from built-in wallet functions for fund transfers to access to decentralized VPNs. All of this, powered by its native token - Toncoin. 🛠️💡
Toncoin fuels the ecosystem, facilitating the building of decentralized applications (dApps), acting as a transaction processing fee, and as a staking payment to secure the blockchain and services. It's more than a #cryptocurrency .
