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Toncoin (TON) project features and connection to Telegram

TON (The Open Network) is a community-driven blockchain project that provides fast transactions and support for a wide range of decentralised applications (dApps). The underlying token of the TON project is used to pay transaction fees, secure the network and vote on project management.

The idea and all the fundamental developments belong to the Durov brothers, the creators of the Telegram project. However, facing opposition from the US Securities and Exchange Commission (SEC), Telegram eventually abandoned the idea. But the open-source code remained, and the project has now been brought back to life by third-party developers. Pavel Durov's Telegram has endorsed and supported The Open Network. As a result, the token has already been added to the listings of many exchanges and exchangers.

Network components

The project combines the following main components:

  • Blockchain platform directly flexible and scalable, with fully customisable smart contracts, microtransaction channels, transfer of value in different assets, and self-healing mechanism.
  • TON Storage, decentralised file storage. Used by the blockchain to store an archive of blockchain copies and state snapshots, but users can also keep anything in this way, similar to torrent technology.
  • TON P2P is a peer-to-peer network responsible for the smooth functioning of the platform sending candidates for transactions and receiving updates only about areas of the blockchain that are of interest to the client.
  • TON DHT is a distributed hash table, a torrent tracker for TON Storage and a server locator.
  • TON Proxy, an anonymiser layer on the network. Hides IP addresses and user IDs in the system if necessary. Relevant for large nodes that want to hide their exact location or protect themselves from DDoS attacks.
  • TON DNS is a system for readable domain names on the network.
  • TON Services is a platform for interacting with applications and interfaces and creating smart contracts.
  • TON Payments, a channel for microtransactions.

Thus, besides the core network, the project offers many more valuable features, making it a one-stop solution for developers and users.

TON Coin

The leading cryptocurrency of the working blockchain is the TON coin. It is used for validator rates, transaction fees, smart contract message processing, and a means to pay for storage and many other solutions.

The supply of TON is initially limited to 5 billion coins, but this amount is slowly increasing as the rewards to validators for mining new blocks accumulate. These will lead to inflation at an estimated 2% per year.

TON Coin can be bought or sold using a cryptocurrency exchanger. This fast and convenient method provides a choice of dozens of possible payment methods. Proven working exchangers are collected on BestChange, so you can quickly find a suitable option using our service.

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© – , updated 08/11/2023
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