TON Blockchain - 5 things you should know

TON (Telegram Open Network) Blockchain is the core of Telegram's decentralized open internet ecosystem.

The TON (Telegram Open Network) Blockchain was initially conceptualized by Telegram founder Pavel Durov and his brother Nikolai.

The project aimed to create a blockchain platform integrated with Telegram's messaging ecosystem to facilitate secure & fast transactions and decentralized applications.

After Telegram stepped back due to regulatory pressures, the TON blockchain is now managed & developed by an independent community.

TON Blockchain is the core of Telegram's decentralized open internet ecosystem.

1. Features and Capabilities

TON is designed to be highly scalable and capable of processing millions of transactions per second thanks to its unique multi-blockchain architecture.

This architecture includes a master chain and up to 292 accompanying blockchains. This significantly increases its ability to handle heavy loads & execute smart contracts.

2. Block time

Block time is the time taken by miners / validators to verify the transactions of one block and produce a new block.

TON Blockchain's block time is 5 seconds.

In comparison, Ethereum’s is 12 seconds and Solana’s is 1 second.

3. Time-to-finality

Time-to-finality is the time taken for a reasonable guarantee that a transaction is executed and will not be reversed / changed.

TON Blockchain's time-to-finality is under 6 seconds.

In comparison, Ethereum’s is 10-15 minutes and Solana’s is 6.4 seconds.

4. Native cryptocurrency

Toncoin (TON) is the native cryptocurrency of this ecosystem and is currently at $6 with a marketcap of $20B and a 24h trading volume of $400m.

Telegram channel owners receive 50% of the revenue generated from the display of ads in their channels. This is paid in TON.

Use cases for Toncoin include:

1. transaction processing fees for smart contracts

2. payment services offered by dApps on the platform

3. contributing to network security via staking

4. cross-chain transaction fees

5. on-chain governance

6. payment for blockchain-based domain names

7. validators’ stakes

8. payment for TON Proxy

9. payment for decentralized data storage

5. Jettons

Jettons or TON tokens are custom fungible tokens on the TON Blockchain. Some of the most popular jettons are:

• Gram (GRAM), the first-ever Proof of Work jetton on TON Blockchain. It has a marketcap of $145 million.

• Resistance Dog (REDO), a memecoin with a marketcap of $75 million.

• jUSDT is USDT transferred from Ethereum via the ton bridge. It has a marketcap of over $9 million.