The Open Network (previously Telegram Open Network, TON) is a Layer 1 blockchain, originally developed by the Telegram team. This project was first proposed in 2018, aiming to provide fast, secure decentralized payments, digital identity and other services for more than 500 million Telegram users. Although TON has encountered some difficulties in regulation and law, it has continued to develop and was officially launched in September 2021.
According to official documents comparing TON with Ethereum and Solana, as of 2022, the TON blockchain is still one of the few truly scalable blockchain projects. Therefore, it remains one of the most advanced blockchain projects, capable of executing millions of truly Turing-complete smart contract transactions per second, and even tens of millions if necessary in the future.
In July 2023, with the explosion of Unibot, more attention was put on Telegram Bots. These built-in bots in the application can lower the threshold for traditional Web 2 users to buy and trade cryptocurrencies, thereby seamlessly transitioning to Web 3. Therefore, Ton, as the official blockchain of Telegram, will be able to capture new incremental users at the first time.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Toncoin (TON) and review the project details below.
What is the allocation & supply schedule for Toncoin (TON) ?
The TON network is powered by its native token, Toncoin. The maximum supply of Toncoin is capped at 5 billion, referred to as 5 Gigatons. Toncoin utilizes the proof-of-stake (PoS) consensus mechanism to enhance network scalability and dependability. The network employs the proof-of-stake (PoS) consensus mechanism for transaction validation. Additionally, Toncoin is employed as an incentive for validators. This limit will be augmented over time as validators are rewarded for generating new masterchain and shardchain blocks.
With an anticipated annual inflation rate of 2%, the total Toncoin supply is projected to double to 10 Gigatons in approximately 35 years. This inflationary mechanism serves as a compensation from the community members to the validators for maintaining the system's operation and stability. The management of validators and nominators is carried out through smart contracts, offering an added layer of security to the network. These smart contracts are executed using the TON Virtual Machine (TVM).
The Open Network (previously Telegram Open Network, TON) is a Layer 1 blockchain, originally developed by the Telegram team. This project was first proposed in 2018, aiming to provide fast, secure decentralized payments, digital identity and other services for more than 500 million Telegram users. Although TON has encountered some difficulties in regulation and law, it has continued to develop and was officially launched in September 2021.
According to official documents comparing TON with Ethereum and Solana, as of 2022, the TON blockchain is still one of the few truly scalable blockchain projects. Therefore, it remains one of the most advanced blockchain projects, capable of executing millions of truly Turing-complete smart contract transactions per second, and even tens of millions if necessary in the future.
In July 2023, with the explosion of Unibot, more attention was put on Telegram Bots. These built-in bots in the application can lower the threshold for traditional Web 2 users to buy and trade cryptocurrencies, thereby seamlessly transitioning to Web 3. Therefore, Ton, as the official blockchain of Telegram, will be able to capture new incremental users at the first time.
Above are only for introduction, not intended as investment advice.