TON blockchain by TON Foundation is a newly emerging ecosystem set to revolutionize modern-day interactions and business with its advanced technology. Launched in 2020, here’s all you need to know.
TON The Open Network is basically a fully decentralized Layer-1 blockchain offering scalability and security that can handle almost a million transactions per second with its fast processing speed.
According to the team,
TON is the blockchain of blockchains because it not only connects different decentralized networks but also processes transactions of as many users as it can.
Launched in May 2020, it is a solution to bring together many blockchains and the internet to pioneer the next-generation network. It is easy to use and environment-friendly.
Like Ethereum,
hundreds of computers are connected to TON as users act as “nodes” to process transactions within the blockchain. In other words, data is equally distributed among all users.
Like other blockchains,
TON also processes transactions using smart contracts which run on TON Virtual Machine or TVM built on the stake principle.
Toncoin is the native token of TON that was initially launched as an alternate Gram but later became the main coin of the chain with a maximum supply of 5,000,000,000 TON coins.
Wallets built on the TON blockchain allow users to store, buy, sell, and trade digital assets. It is a decentralized platform with fast-transaction speed, cheaper gas fees, and quicker payment processes.
Ton blockchain is less popular yet its unique infrastructure has attracted many eyes. Other networks focus on investors, while TON aims to be the bridge between all blockchains and the internet.