The Open Network or TON, although it is a blockchain-based project, it is community-driven. Founded by Telegram, the project seeks to provide a fast, inexpensive and energy-friendly blockchain transaction to bring together billions of users.
Users who want to perform their daily transactions quickly, cost-effectively and easily TONIt has a flexible architecture as well as a scalable structure.
What is Toncoin?
Toncoin (TON) is the native token of The Open Network, the decentralized Tier-1 network. Previously Gram The token, named after him, uses a ‘proof-of-stake’ consensus. TON can be used to pay transaction fees, process payments or verify transactions.
On the other hand, the blockchain, formerly known as Telegram Open Network, has been abandoned by Telegram. The project was named The Open Network after a while, and it was made public.
When Was The Open Network Founded?
Telegram Open Network announced itself by publishing ‘lite paper’ and ‘white paper’ in 2018. The project, which was developed until 2020, had a pretty good start. Gram tokens, for example, generated $1.7 billion in private sales and broke records. As a matter of fact, this rapid growth in the network brought with it various difficulties. However, the litigation with the SEC later brought the end of the project.
The project, which was developed as open source, was developed through users on Github. The project, whose aim was to perform the daily transactions of the users in a fast, cost-effective and easy way, managed to preserve its importance somehow.
Koinfinans.com As we have reported, TON, which wants to solve the problems in mainstream networks such as Bitcoin and Ethereum, attracts the attention of users through these problems.
The TON ecosystem has been developed to meet the needs of millions of everyday users. Unlike Bitcoin and Ethereum, which are primarily used by investors, TON focuses on appealing to the typical consumer. It is designed to be integrated into an easy-to-use application. It allows users to quickly buy, send and store coins.
How to Buy Toncoin?
Available on KuCoin, PancakeSwap, and Uniswap, Toncoin mostly relies on decentralized exchanges.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.