TON coin, its project and its future | Arabic Bitcoin | Bitcoin news

TON Token Token

Toncoin (TON) is a decentralized layer 1 blockchain developed in 2018 by crypto messaging platform Telegram.
The project was then abandoned, taken over by the TON Foundation, and renamed from “Telegram Open Network” to “The Open Network”.

Since 2020, the technology has been evolving thanks to a non-commercial group of supporters and an independent community of enthusiasts who call themselves the TON Foundation.
Toncoin, formerly known as the Gram, is the native cryptocurrency of the TON network.

TON coin project

The original idea was to integrate TON into an easy to use app that would allow users to buy/send/store money.
Customers pay transaction fees and use TON to settle payments or verify transactions. Toncoin uses the Proof of Stake (PoS) consensus model to extend the network and its reliability.
According to the project’s website, the platform provides its customers with fast, transparent and secure payment services, and facilitates transactions with minimal fees and third-party applications.

The developers’ mission is to build an integrated ecosystem with decentralized storage, decentralized services, Domain Name System (DNS equivalent), anonymous network, instant payment platform, and fast/affordable transaction processing.

The Open Network is a community-driven blockchain with a flexible architecture and focus on serving the typical consumer.
TON stands out because of its fast processing/validating transactions per second (TPS). In September 2021, the network processed a then-record 55,000 TPS during the competition, although the current TPS could be in the hundreds of thousands or even millions.
This feature allows the project to grow rapidly while avoiding performance losses.
At the same time, the project does not harm the environment.

How many Toncoin (TON) are in circulation?

The TON network contains its native token, Toncoin, with a circulating supply of 1.22B TON and a maximum supply of 5B TON.

Toncoin is designed to fuel the ecosystem.
It can be used to build decentralized applications (dApps), serve as a transaction processing fee, fee for cross-chain transactions, and as a collateral payment to secure the blockchain and services.
The list of use cases also includes paying for decentralized data storage, TON DNS/TON Proxy, and other fees within decentralized services.
Validator fees are also paid in TON.
In addition, people can vote with TON for changes and development within the governance program of the TON.

How is the Toncoin (TON) network secured?

The network uses a Proof-of-Stake (PoS) consensus mechanism to validate transactions.
Moreover, Toncoin is used to reward validators.
Candidates can also provide tokens to validators and receive rewards.
Validators and candidates are managed with smart contracts, which provides additional protection to the network.
Smart contracts are executed using the TON Virtual Machine (TVM).

TON coin price

Toncoin live price today is