The live price of Toncoin is - per (TON / USD) with a current market cap of $7.75B USD. 24-hour trading volume is - USD. TON to USD price is updated in real-time. Toncoin is -% in the last 24 hours with a circulating supply of 2.49B.
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Toncoin is the native cryptocurrency of The Open Network (TON), a blockchain project that traces its roots back to Telegram’s original venture, the Telegram Open Network. While Telegram is no longer involved in the project due to regulatory restrictions, independent developers have revived it and renamed it TON. This community-driven initiative, independent of Telegram, built on the infrastructure originally created by Telegram founders Pavel and Nikolai Durov, has transformed Toncoin into a cornerstone of the TON ecosystem.
The TON blockchain is a collection of blockchains consisting of one main chain, up to 232 work chains, and up to 260 shard chains. TON’s main chain is the main blockchain that contains all the information about the protocol and current parameters. Work chains, on the other hand, are the blockchains that process smart contract transactions. These work chains are further sharded.
Through these shards, TON can instantly transfer messages between any two blockchains, regardless of the size of the network, achieving rapid massive scalability. In addition, to address security issues and maintain decentralization, TON uses a proof-of-stake consensus mechanism and allows validators to add new blocks on top of any invalid blocks to avoid unnecessary forks.
Toncoin plays a key role in the ecosystem and provides multiple use cases. It can be used to pay transaction fees, promote decentralized trading platforms, and support the operation of TON blockchain services. In addition, Toncoin can also empower network governance, and holders can influence key decisions. Developers can use Toncoin to deploy smart contracts, while users can use it to interact with DApps in various fields such as finance and social networks.
TON provides a range of advanced blockchain services, including a scalable multi-blockchain architecture, smart contract capabilities, a virtual machine for running decentralized applications (DApps), a secure DNS for anonymous browsing of the web, decentralized file storage, and payment channels tailored for microtransactions.
The TON ecosystem consists of blockchain products such as decentralized storage, blockchain naming system, micropayment platform, and other decentralized services. TONCOIN has several use cases in this ecosystem, such as earning validation node and liquidity income rewards, voting for protocol proposals, and paying for TON products.
The TON blockchain uses a proof-of-stake (PoS) consensus mechanism with an "infinite sharding" paradigm. This design allows for easy scalability, allowing the blockchain to dynamically split or merge shards based on transaction load, thereby optimizing parallel processing capabilities. A decentralized group of validators is responsible for multiple rounds of verification to ensure the security and reliability of transaction processing within the network.
The Open Network (TON) was originally launched in 2019 by Telegram founders Pavel and Nikolai Durov as the Telegram Open Network. Unfortunately, the founders had to shut down the Telegram Open Network due to regulatory pressure from the US regulator SEC.
Independent developers Anatoliy Makosov and Kirill Emelyanenko created The Open Network after Telegram withdrew from the project.
The decentralized community now consists of more than 40 independent developers working on the project as part of the Open Network (TON) Foundation, a non-profit community funded by donations.
The project is currently independent of Telegram. The Telegram team has transferred the ton.org domain and Github repository to TON's blockchain developers. On top of that, Telegram founder Pavel Durov expressed his support for Open Network in an official Telegram post on December 23, 2021.
The total supply of TONCOIN is 5 billion. Of the total supply, 1.45% is allocated to testers and developers. The remaining 98.55% is transferred to the proof-of-work giver smart contract.
New TONCOIN units are generated during block validation. Therefore, TON is an inflationary token, which will affect the price of TON tokens in the long run. The annual inflation rate of TON is 0.6%, calculated based on the fees paid by the TON community to validators.
The TONCOIN trend chart shows that TONCOIN sales have been growing steadily since TONCOIN began releasing its products in November 2021.
The Open Network is a multi-blockchain network that can process millions of transactions per second. TON has a range of blockchain services, including decentralized storage, a blockchain naming system, a network anonymizer, and a micropayment platform. TONCOIN is the native utility and governance token of the Open Network.
Toncoin was developed by the Telegram social networking platform in 2018. After losing the SEC lawsuit against Toncoin for failing to register a previous $1.7 billion token sale, Toncoin changed its name to The Open Network.
TON is an acronym for "The Open Network," an open decentralized network that supports decentralized applications, digital currencies, and other digital interactions.
The Open Network has a multi-blockchain architecture consisting of a main chain and up to 232 working chains. These working chains are further subdivided into up to 260 shards. The TON blockchain uses proof-of-stake consensus to generate new blocks. On the other hand, TONCOIN units are mined using proof-of-work.
As of writing, the total supply of Toncoin tokens is 5.11 billion, of which the circulating supply is 2.55 billion.
In TON's PoS consensus algorithm, the network selects validators based on the number of staked tokens by the user. The more tokens a user holds, the greater the chance of being selected as a validator. Validators are responsible for creating new blocks and verifying transactions on the network. The selected validators must reach a consensus on which block to add to the blockchain, a process that is achieved through the BFT algorithm. The TON validation process includes a variety of checks and balances to ensure the integrity of the network.
TON can be used for staking in the TON decentralized network. TON can be staked in the network consensus mechanism protocol. Relying on the PoS staking model implemented in the TON ecosystem, individuals can stake and receive rewards for participating in the block validation work (i.e. protecting and processing transactions on TON).
TON is a multi-level architecture built on the principle of sharding or segmentation (called a "blockchain in a blockchain"). The sharding feature involves the use of multiple subnets (shards) on the same blockchain, where each shard has a specific purpose. This allows the network to avoid the accumulation of unvalidated blocks and speed up the execution of tasks. The TON network includes the main chain, work and shard chains.
Its developers focus on scalability, efficiency and mass adoption. Due to the good communication between different segments, the network brings super fast transaction speed and verification time, and has a very high TPS.
The TON network provides the following services: two TON Wallets for transferring money and interacting with platform services: delegated and non-delegated wallets; TON Services allow developers to create different dApps, allowing users to access third-party applications through a simple interface; YON Storage, which uses the user's wallet private key for privacy encryption, allows users to access the TON blockchain through a decentralized VPN; TON Proxy, which uses all components of the platform, allows traditional websites to operate within the TON network and ensures that users use TON DNS (decentralized domain name system) with short and readable domain names.
You can buy TON directly on Binance using a credit or debit card, or you can exchange other cryptocurrencies for TON on the Binance exchange platform.
The Toncoin to other currencies exchange rate?
