Toncoin: everything you need to know about TON

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.

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 €16.28 in 2026 and a minimum price of €53.84 in 2031

Frequently asked questions