Every crypto community member has likely heard about TON, the prominent crypto project with roots leading to Telegram, one of the largest messengers in the market. Today, we are about to discover TON’s ecosystem to find out whether its cryptocurrency, Toncoin, is worth investing in.
Introduction to TON and its origins
The Open Network (TON) is a decentralised, open-source blockchain platform built by an independent team of developers. It was originally initiated by the notorious Telegram crypto project company, which was forced to abandon it due to regulatory pressures.
Since the developers left the codes available online, the TON’s team decided to use them as a fundamental basis to build their own project. Telegram’s team had no objections.
As for now, TON’s ecosystem consists of several elements:
- TON Blockchain. This is the core element, designed as a supercomputer that can process millions of transactions per second. Developers ambitiously refer to it as the “blockchain of blockchains” due to its ability to integrate different networks without compromising scalability, transparency, or decentralisation.
- TON DNS. A domain name service provides users the opportunity to name wallets, smart contracts, and even websites with short convenient-to-read names.
- TON Storage. This node-service enables users to create smart contracts following network-specific rules. According to TON’s website, it is “a reliable storage of any size on the decentralised TON network”. It works similar to torrent-protocols, which let users keep data in a decentralised manner using disk space and computation power connected to the network machines.
- TON Sites. It works similar to classic websites, but with one exception—they’re accessible only through the Telegram Open Network. Take this as an additional layer inside the web for “chosen ones”.
Developers are positioning TON as a next-generation global network that merges the advantages of Web2 (centralised internet) and Web3 (a concept of decentralised internet built on blockchain technology).
Key features of the TON blockchain
- Unique Heritage. It is the only blockchain project with roots leading to the notorious messenger Telegram and its owner, Pavel Durov.
- Support from Telegram. This helped the project to increase their own currency’s usability. For example, the coin is integrated into the messenger’s crypto wallet. Users can also spend coins within Fragment, a domain name platform developed by Telegram.
- No need for Layer 2. TON maintains scalability with growing network demand. Its proven efficiency makes The Open Network more attractive than some established projects like Ethereum.
- Wide Ecosystem. TON offers a lot of kits and tools aiming to build a decentralised internet.
- High Transaction Capacity. TON’s blockchain can handle millions of transactions per second without any delays.
Toncoin: the native cryptocurrency
Toncoin serves as the linchpin of the TON ecosystem. According to the website, it was launched on a testnet in November 2019, before Telegram gave up on the project.
In May, 2021, a new team of developers launched Toncoin on the second testnet. Later, in June, 2022, they finally distributed the token. Now, TON is the main currency of the whole ecosystem. It is the main tool to pay the fees and purchases inside the project university.
Smart сontracts and decentralised applications
As we previously discovered, developers can run smart contracts on the TON blockchain to develop and maintain decentralised applications (dApps). Toncoin is primarily used to cover transaction fees.
How TON integrates with Telegram
Telegram has embraced the reborn Toncoin by integrating it into the ecosystem in several ways:
- Users can pay for a domain name or anonymous numbers on Fragment.
- Conduct crypto operations within Telegram’s native wallet. The app can be used to purchase TON, as well as several other popular coins.
- Content creators can earn Toncoin. Durov decided to reward them with a share of the earnings they get from advertising activity.
Since there are no Telegram stocks, market participants can use Toncoin as a security as the coin's rate fluctuations reflect the company's actions.
Benefits of TON for Telegram users
Toncoin almost serves as an official Telegram coin, rewarding content creators and conducting anonymous transactions within the Telegram wallet. Additionally, TON acts as a security measure reflecting the company’s market movements.
Investing in Toncoin
There are not so many lucky enough crypto projects to have gained support from one of the largest messengers, the user base of which has already exceeded 800 million. The established relationship between Telegram and TON creates a strong demand basis and provides potential for their growth, making Toncoin desirable among investors.
How to buy and store Toncoin
You can purchase Toncoin using different platforms. But if you are looking for the best rates, fast transactions, and high level of security, pay attention to the itez exchanger platform. It provides a convenient way to buy TON with a bank card within a few minutes.
Future prospects and market analysis
Supported by Telegram, TON has promising long-term prospects, which means Toncoin’s worth to be considered as part of an investment portfolio. At the moment of writing, Bitcoin (BTC), the flagman cryptocurrency, just experienced its 4th halving. The event always leads its rate to an all-time high, dragging the whole market to the Moon.
Statistics show that BTC can reach ATH approximately a year and a half after halving, which means that the bull run can continue till autumn 2025. Such market conditions suggest that TON can skyrocket as well.
The role of TON Foundation and community
TON Foundation defines itself as an organisation aiming to support talented developers willing to use the TON ecosystem and its tools to provide a wider community with dApps. It was established in Switzerland in 2023. Here is the TON Foundation motto:
“We believe in the power of a decentralised future and self-sovereignty at scale”.
TON Foundation provides developers with grants, promotion, and wise advice.
Comparing TON to other cryptocurrencies
Toncoin is one of a kind because of its Telegram support. There is no other single team that can brag with such a backer.
This coin provides users with wide usability opportunities and a proven potential for growth as it was adopted in several projects revealed by one of the biggest messengers in the market.
Toncoin chart. Source: TradingView
FAQs and common misconceptions about TON
TON is not Telegram’s affiliate. Since Telegram decided to abandon its crypto project, its open-source data has been adopted by independent developers. There are no direct ties between the messenger and TON, but both sides appreciate their partnerships.
TON is not an official Telegram’s cryptocurrency. It was developed based on the messenger team's raw materials, but the coin does not belong to Telegram.
TON is the original name of the project inherited from Telegram’s crypto project. An independent team named platform in honour of Durov’s origin project.
Conclusion and future of TON
TON is one of the most promising crypto projects with a strong technical basis, aiming to build the future of the internet. It has prominent backers, rival usability, and crypto community support. The combination of all these advantages makes TON attractive for investors who are looking for a long-term investment opportunity.
🤔 Wanna invest in TON? Share your views in our socials!
💌 Telegram, Twitter, Instagram, Facebook
Here are three other cool articles:
How high can Bitcoin climb with halving? Top price predictions review
What is algo trading and how does it work? A comprehensive guide
A comprehensive guide to IDO (Initial DEX Offering)
This article is not investment advice or a recommendation to purchase any specific product or service. The financial transactions mentioned in the article are not a guide to action. It’s not intended to constitute a comprehensive statement of all possible risks. You should independently conduct an analysis on the basis of which it will be possible to draw conclusions and make decisions about making any operations with cryptocurrency.
