Toncoin: everything you need to know about TON
Axel has been immersing himself in the world of crypto and blockchain for quite some time, which he then translates into understandable articles.
Toncoin facts
Abbreviation
TON
Category
Cryptocurrency
Founder(s)
Nikolai Durov and Pavel Durov
Blockchain
The Open Network (TON)
Protocol
Proof of Stake (PoS)
Launch date
2018
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What is Toncoin?
Toncoin is the native cryptocurrency of The Open Network (TON), a decentralized blockchain network that was originally developed by Telegram. TON is designed to be fast, secure, and scalable, with the aim of supporting millions of transactions per second. Toncoin is used within the network for transaction fees, staking, and as the base currency for the various applications built on TON.
How does Toncoin work?
Toncoin uses a proof-of-stake (PoS) consensus mechanism, which means that validators in the network are selected based on the amount of TON tokens they stake. These validators process transactions, add them to the blockchain, and ensure that the network remains secure and reliable. Users can stake their Toncoins to support the network and earn rewards.
The TON token
Toncoin (TON) is the official cryptocurrency of the TON network. The maximum supply of Toncoin is set at 5 billion tokens, some of which are already in circulation and others are released through mining and staking rewards. TON tokens can be used for various purposes within the ecosystem, such as paying transaction fees, staking to participate in network security, and as a store of value.
The technology behind Toncoin.
TON uses an innovative technology called "multi-level sharding." This means that the blockchain is split into smaller pieces (shards), allowing the network to achieve extremely high throughput speeds. This approach ensures that the network can scale as the number of users and transactions increases, without compromising speed or security. Additionally, TON utilizes a Byzantine Fault Tolerance (BFT) consensus algorithm, making the network more resilient to attacks.
The Toncoin ecosystem.
The TON ecosystem is dynamic and growing rapidly, with a wide range of decentralized applications (dApps) being developed on the network. These applications range from financial services, such as decentralized exchanges (DEX's), to gaming and social media platforms. Additionally, TON supports smart contracts, enabling developers to build advanced decentralized solutions. The TON ecosystem aims to be an all-in-one platform for both users and developers.
€4.83▲0.59%
Benefits of Toncoin
Toncoin offers several advantages, including:
- Scalability: By utilizing multi-level sharding, TON can process millions of transactions per second, making it highly scalable.
- Speed: Transactions on the TON network are confirmed within seconds, making it one of the fastest blockchain networks.
- Low costs: Transaction costs on the TON network are extremely low, making it ideal for microtransactions and daily payments.
- Safety: Using the BFT consensus algorithm and the decentralized structure of the network, TON is very secure against attacks.
Disadvantages of Toncoin.
Despite the many advantages, there are also some disadvantages.
- Centralization of staking: Because TON uses a PoS mechanism, large stakeholders may have more influence over the network.
- Relatively new: TON and Toncoin are still relatively new and have yet to prove themselves further in the market and within the community.
- Competition: The blockchain space is highly competitive, with many other projects focusing on speed, scalability, and low costs.
Who is the founder of Toncoin?
Toncoin and The Open Network (TON) were originally developed by the brothers Nikolai and Pavel Durov, the founders of Telegram Messenger. The project started as an internal project within Telegram, but due to legal complications, it was eventually transferred to the open-source community which further developed it. Since then, TON has become an independent blockchain project supported by a wide range of developers and investors worldwide.
Expectations for the near future
Experts expect a minimum price of €15.54 in 2026 and a minimum price of €51.40 in 2031
Toncoin price in the last 24 hours
View all key statistics of the past 24 hours here.
€4.84
€4.85
€4.68
Market information
Use these figures to get a better picture of the Toncoin market.
€286.4 million
€12.3 billion
2.5 billion
€7.70
Toncoin Return On Investment
See how much the price has risen or fallen over the years.
Historical Toncoin price
Here you can see Toncoin's daily prices, trading volume and market cap. Looking for a specific date? You can fill in the range all you want. Maybe you'll spot the one trend!
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Frequently asked questions
Toncoin doesn't have a fixed value because the exchange rate is always in motion. Whenever you get distracted or even blink, it has already changed. Right now, the value of Toncoin is €4.83.
You can easily buy Toncoin on BLOX! Quickly download the app, and within two minutes, you'll have your own crypto portfolio with Toncoin and your other favorite coins.
So much is happening in the crypto market that it's sometimes difficult to stay continuously informed. That's why we've already taken a look at the expectations for you. According to experts, the value of TON is expected to continue rising steadily in the coming years. For instance, the price of Toncoin is predicted to reach €13.66.
We don't have a crystal ball either, so it's up to you to decide whether you want to invest in TON. We can only recommend once again that you thoroughly research the market and only invest what you're willing to lose.
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