The Open Network is a blockchain undertaking produced by Telegram itself, which emphasizes decentralization, privacy and consumer protection. So what is open networking? Let’s discover out with Coinlive in the report beneath.
What is open networking?
The Open Network (abbreviated to TON) is a layer one blockchain platform launched in 2018, the most important intention is to build a decentralized program, make sure protection, promptly procedure transactions, lessen prices and ease of use for end users .
TON was founded by two Durov brothers, Pavel Durov and Nikolai Durov, founders of the on-line messaging application Tegram Messenger. The unique title of the undertaking is Telegram Open Network.
History of the formation of The Open Network
In 2018, Telegram Open Network launches undertaking white paper with GRAM token. Initial, Telegram raised capital for the undertaking by means of ICO and raised an quantity of up to $one.seven billion. Telegram Open Network has promptly come to be a single of the tasks that has obtained the most interest from the local community.
In 2020, as it prepares for the up coming ICOTelegram Open Network out of the blue obtained a ban from the US Securities and Exchange Commission (SEC) in March 2020 for causes this kind of as violates fiscal solutions rules in the United States.
In May 2020, Pavel Durov published an announcement that Telegram would officially withdraw from the undertaking and give redemption possibilities to traders. The Telegram Open Network undertaking was later on transferred to two developers, Anatoliy Makosov and Kirill Emelyanenko, and was renamed The Open Network, building it a absolutely decentralized platform.
Although it is no longer the TON improvement group, Telegram continues to on a regular basis assistance and integrate the solutions of this blockchain into its application. For illustration, NFT tokenizes usernames and auctions them on the TON blockchain marketplace platform, integrating TON and USDT into the @wallet bot, or far more lately, Telegram integrating the TON Space wallet into its solution.
Open network solutions
TON Payment
TON Payments is a payment program primarily based on the TON blockchain, the place transactions are executed off-chain, enabling payments to be manufactured promptly and value-correctly.
TON Prosecutor
TON Proxy enables end users to entry the TON blockchain as a result of the use of decentralized VPNs, assisting to stay away from censorship when making use of DApps.
TON DNS
Similar to Ethereum Name Service, TON DNS is also a domain naming support that assists make cryptocurrency wallets, sensible contracts or web sites far more intuitive and uncomplicated to use. This platform supplies end users with brief identifiers rather of possessing to use complicated character strings of wallet addresses or sensible contracts.
TON Storage
TON Storage is a decentralized storage undertaking launched by TON in early 2023 aims to permit end users to exchange files of any dimension, backed up and encrypted, with out the have to have for a centralized server.
TON wallet
TON Wallet is the official wallet of the TON ecosystem, which enables end users to shop TON and tokens of the TON721 regular when also supporting connection with the DApps of the TON ecosystem. TON Wallet is at this time accessible on several distinct working programs this kind of as Android, IOS, Window and MacOS.
Tokenomics
|
Token title |
Toncoin |
|
Symbol |
TONNE |
|
Blockchain |
Ethereum, Binance Smart Chain (BEP20), TONNE |
|
To contract |
|
|
Total provide |
five,047,558,528 TONS |
TON tokens have been at first distributed by means of mining making use of the Proof of Work (PoW) mechanism, then the undertaking transitioned to distribution making use of the Proof of Stake (PoS) mechanism.
Token use situation
The TON token is utilized for the following functions:
- Pay transaction charges, TON network charges.
- Used for undertaking management.
- Used to pay out charges for solutions in the TON ecosystem this kind of as TON Services, TON Storage, TON DNS, TON Proxy,…
- Pay rewards to validators.
summary
Through the over overview report on The Open Network undertaking, Coinlive hopes that readers have an understanding of essential information and facts about this undertaking to make their personal investment choices. I want you a effective investment!
Note: The information and facts in the report is not thought of investment tips, Coinlive is not accountable for any of your investment choices. I want you good results and earn a whole lot from this likely industry.