What is The Open Network?
The Open Network (TON), originally known as Telegram Open Network, is a decentralized layer-1 blockchain developed by Nikolai Durov, co-founder of Telegram. The project was initially intended to serve as the foundation for the cryptocurrency Gram, but due to legal complications, Telegram withdrew from the project in 2020. Since then, TON has been continued by independent developers and the TON Foundation, with the goal of providing a scalable and secure blockchain infrastructure for decentralized applications (dApps) and services.
Source: ton.org
How does The Open Network work?
TON uses a Proof-of-Stake (PoS) consensus mechanism, where validators stake TON tokens to validate transactions and add new blocks to the blockchain. The network is designed to handle millions of transactions per second, making it suitable for large-scale applications and services. In addition, TON supports a range of components such as TON DNS, TON Storage, and TON Sites, contributing to a fully decentralized internet ecosystem.
The token
Ticker: TON
Category: Platform Token
Blockchain: The Open Network
Protocol: Proof-of-Stake (PoS)
Launch date: 2020
The technology behind TON
TON is built with a focus on scalability and efficiency. The network consists of a masterchain and up to 2^92 workchains, each divided into shardchains. This architecture enables parallel transaction processing, which contributes to the network’s high throughput. TON also uses the TON Virtual Machine (TVM) to execute smart contracts, providing flexibility and functionality within the ecosystem.
The TON ecosystem
The TON ecosystem includes several components that contribute to a decentralized internet:
- TON DNS: A service that assigns human-readable names to accounts, smart contracts, services, and network nodes, similar to the traditional DNS system.
- TON Storage: A distributed operating system for storing large volumes of data, comparable to a decentralized cloud storage service.
- TON Sites: A platform for hosting decentralized websites, accessible through the TON network.
These components work together to create a fully decentralized internet, where users maintain control over their data and privacy.
Who founded TON?
TON was originally developed by Nikolai Durov, co-founder of Telegram and brother of Pavel Durov. After Telegram withdrew from the project in 2020, TON was continued by independent developers and the TON Foundation, which now supports the ongoing development and adoption of the network.
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official resources provided by the project via https://ton.org.
Before trading, make sure to read the general risk warning about crypto asset trading:
Cryptocurrencies, including The Open Network (TON), are volatile and involve risks. The value of TON can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.