What Is TON Blockchain?
The TON Blockchain, short for Telegram Open Network, is a high-performance blockchain developed by Nikolai Durov, the co-founder of the popular messaging app Telegram. Designed to overcome the scalability issues faced by traditional blockchains, TON introduces a unique multi-blockchain architecture. It enables faster transaction speeds and efficient handling of smart contracts, making it an appealing platform for decentralized applications. TON’s native cryptocurrency, TON Coin, plays a central role in facilitating transactions and incentivizing network participants.
Brief History and Development
TON’s journey began in 2017 when the Durov brothers, Nikolai and Pavel, envisioned a blockchain that could integrate seamlessly with Telegram’s vast user base. Their aim was to create a decentralized, fast, and user-friendly blockchain. In 2018, TON raised nearly $1.7 billion through one of the largest Initial Coin Offerings (ICOs) ever. However, in 2020, the project faced regulatory challenges from the US Securities and Exchange Commission (SEC), leading to its official discontinuation. Despite this setback, the open-source nature of TON allowed independent developers to continue its development, leading to the blockchain’s revival and growing adoption.
Differences Between TON and Other Blockchains
While TON and blockchains like Solana have similarities, like token issuance and transaction speeds, TON stands out with its workchains and sharding technology, earning it the nickname ‘Blockchain of Blockchains.’ It can support many workchains, each dividable into numerous shardchains. This makes transactions incredibly fast. Also, TON’s ecosystem includes unique features like TON Storage and TON Sites, and its link with Telegram messenger reaches a large audience, boosting its use for services like Telegram Premium. For more detailed insights into TON’s capabilities, you can read further here: What Is The Open Network Blockchain?
What You Need to Know About TON and Its Ecosystem
Tokens in the TON Network - Jettons
Jettons are custom tokens on the TON Blockchain, allowing users to create their own cryptocurrencies. This feature is similar to Ethereum’s ERC-20 tokens but with TON’s unique functionalities. Jettons can be used for various applications, including the creation of stablecoins. They operate within TON’s wallet system, managed by smart contracts. This innovation adds versatility to the TON ecosystem, broadening its use and appeal.
Top Jettons projects on TON. Source: ton.app
Integrating TON Into Telegram: Multi-Million User Base
Every day, the Telegram team is more closely integrating TON functionality. It all started with the ability to buy and sell Telegram usernames, followed by the introduction of anonymous virtual numbers for easier messenger authentication. All these purchases were made using TON coins. Later, Telegram Premium was introduced, which can also be paid for with TON coins, and even at a discount! This gradual, beneficial integration, combined with Telegram’s user base of over 700 million, provides immense potential for the global adoption of TON coins.
TON Is More Than Just a Blockchain - It’s a Lifestyle of Privacy
The team behind The Open Network (TON) not only ideologically but also practically demonstrates their commitment to privacy and security. Here are some TON solutions designed to safeguard your confidentiality:
TON Mobile: Secure global mobile connectivity without any restrictions. TON Mobile offers an eSIM card that allows anonymous internet usage free from provider restrictions. However, these eSIM cards do not support traditional calls, but you can use online telephony services like audio or video calls in Telegram.
TON Internet Ecosystem: What is TON Internet Ecosystem? - TON DNS is a groundbreaking service enabling users to assign human-readable names to crypto wallets, smart contracts, and websites, simplifying access to decentralized services. This system, similar to internet website access, includes TON Sites, TON Proxy, and TON WWW.
Fragment: A platform for anonymous numbers tailored for Telegram and Telegram Premium, enhancing privacy in communication.
TON Storage: A secure and private storage solution, part of TON’s broader ecosystem, ensuring users’ data remains confidential and protected.
The TON blockchain also supports NFT functionality, enabling users to engage with unique digital assets like collectible items, art, and gaming elements. Top NFT Collections on TON. Source: getgems.io
Getting Started With Ton Blockchain
Setting Up a Toncoin Wallet
To get started with TON, the initial step is establishing a Toncoin wallet. This is your access point to the TON blockchain, enabling you to store, send, and receive Toncoin. The setup process is user-friendly: download the Gem Wallet, create a new account or import one with a seed phrase, and you’re ready to interact with the TON network.
How to Acquire Toncoin
You can get Toncoin from exchanges, from other people, or as a reward for using the blockchain. The Gem Wallet makes it easier by letting you buy Toncoin right in the app. This is not only handy but also safe, reducing the chance of mistakes. This easy and quick method is part of TON’s goal to make things simple for everyone.
Staking Toncoin in the TON network allows coin holders to earn rewards and support the blockchain’s stability. This process, which locks coins for a period, is straightforward and designed for all user levels.