TONcoin (TON) is the core native token of the decentralized layer-1 blockchain, The Open Network (TON). TON has open-source code and many network supporters, including the Switzerland-based non-profit organization TON Foundation. Is TonCoin the best crypto to buy now?-this article has the answer.
Since 2017, Telegram's staff has been working on the development of the code for the network, which was then named Telegram Open Network (TON), and the native cryptocurrency 'Gram. ' Nevertheless, at the end of May 2020, Pavel Durov, Telegram's founder and CEO, announced that the company disconnected from the TON Blockchain and did not release the Gram token because of a court order by the Securities and Exchange Commission (SEC).
Since the start of 2020, the technology has been developed by a non-commercial group of supporters and an independent community of enthusiasts, the TON Foundation. TON blockchain was rebranded from "Telegram Open Network" to "The Open Network," and Toncoin stands as a native cryptocurrency of the TON network. The whitepaper also includes part of the original codebase written by Dr. Nikolai Durov, the co-founder of Telegram and brother of Pavel Durov.
The main idea was to incorporate TON into a convenient application that allows users to buy/send/store funds. Clients make payment of transaction fees and use TON to either validate transactions or settle their payments. Toncoin employs PoS to ensure network scalability and reliability. As stated on the project website, the platform offers quick, transparent, and secure payments, which in turn makes the transactions simple with minimum fees and interference from third parties.
The developers plan to create a system with decentralized storage, decentralized services, DNS equivalent, an anonymous network, an instant payment platform, and affordable/fast transaction processing.
Offered by TONCoin (TON), Pantera Capital’s financial aid dramatically drives a high positive sentiment today. TON token was traded at the price of 16$. By 9: At 4 am on Friday, its price surged to US$65. 76, reaching that level for the first time since April 19th. This hike shows an impressive rise compared to the first 395% increase that was seen on 1st May and a single-day increase of 535%. With wide acceptance and market dominance, the total market cap hit an all-time high of US$22 billion.
Ton coin is the best crypto to buy now Dan Morehead, the founder of Pantera Capital, reportedly said that TON (The Open Network) was their biggest investment ever. However, he did not disclose the figure invested in the ICO or the price of the discount tokens, which will remain a secret until the ICO announcement. They earlier said that they would bring in US$250 million to buy outdated SOL (coming from FTX).
Pantera Capital stirred up the crypto sector with one of the most significant investments it has ever made: placing a considerable amount of money into the Telegram Open Network (TON) blockchain. Consequently, Pantera's investment marks a belief in its own as well as a hope for fruitful outcomes from this technological innovation. Panterra's decision to invest in TON was a result of a few conversations between Dan Morehead, the founder of Pantera, and Pavel Durov, the founder of Telegram.
Durov is famous because of his commitment to privacy and internet freedom, so Telegram and other of his projects are regarded as key. Such investment could be looked through as a powerful trump card that Durov's views and Telegram's stance towards censorship and the defense of cryptocurrency are based on. This investment is only one element of the team's strategy to select and support blockchain projects with prospects.
Pantera’s raising a flag on TON is also a milestone. Just now, Pantera V fund has managed to get $1 billion for its venture. That is observable evidence of big interest and firm belief in the crypto market. In this instance, the TON is ranked 10th among the Crypto assets, and its cap is $16 billion—8 billion market valuation.
Originally Named after the popular Telegram messaging platform, Toncoin (TON) split from Telegram in 2020 after a legal dispute with the U.S. SEC. Afterward, the blockchain's technology management was handed over to Open Network, an open-source development group.
The Toncoin app was the next move, and Telegram users could now send TON internally within the app without any extra step. Ryan Barney, a partner at Pantera Capital, accentuated the role of the Telegram community in cryptocurrency's reach to the masses and transformation into the biggest cryptocurrency network.
Pantera Capital's partnership and declaration of confidence in crypto projects, even in the market, could trigger a fresh rally in crypto markets. Let’s be patient and let crypto take its course. TON shows a multi-level architecture based on the "blockchain within blockchain" and sharding principle. Sharding is a feature that implies using several subnets (shards) on the same blockchain, each with its own purpose. It can help the net avoid the accumulation of unvalidated blocks and speed up tasks. The TON network is composed of the master, work, and shard chains.
Developers consider scalability, efficiency, and mass adoption important pillars. The network is based on the clear interaction between segments, which allows for the highest-performing transactions and verifying and processing millions of TPS.
The TON network offers the following services: TON Wallets, which is a built-in wallet function intended for the transfer of funds and interaction with platform services and features of two types: custodial and non-custodial; TON Services enables developers to create various dApps while users can access third-party apps through a user-friendly interface; TON Storage offers the private encryption key advantage of being tied to the owner’s wallet; TON Proxy. The native token of the TON network, Toncoin, has a circulating supply of 3. 47B TON and a maximum number of 5B TON.
Toncoin is designed to fuel the ecosystem. It can be used as an intrinsic part of developing dApps, as a transaction processing fee, as a cross-chain transaction fee, and as a stake payment to secure the blockchain and services. The list of use cases includes payment for decentralized data storage, TON DNS/TON Proxy, and other fees for the decentralized services. Furthermore, validators are also paid in TON. Further, voters can vote for changes and development within the TON governance program by using TON.
The network employs the PoS (proof-of-stake) consensus algorithm to validate transactions. In addition, validators are rewarded with Toncoin. Similarly, nominators provide tokens to validators and receive staking rewards. Validators and nominators run smart contracts, which ensure the security of the network. The TON Virtual Machine (TVM) is used to run smart contracts.
In the last 30 days of Toncoin, it captured 13/30 (43%) green days. Based on Toncoin's past performance as per our historical data, it is profitable to invest in Toncoin at the moment. Toncoin price rose by 199%Up to 78% in the previous 1 year.
The native crypto asset of the TON decentralized system is Toncoin. TON organizes itself to offer fast payment settlement, simple usages of dApps, and small fees, among other benefits of layer-1.
Price of TON today
The Toncoin live price is US$ 5 with US$ 200 per each (OUNCE / DOLLAR) and the current market cap of $19 billion,60B USD. The daily trading volume is US$182. 21M USD. TON to USD price shows up in real-time. Toncoin is -3. 57% rise in the last 24 hours with a circulating supply of 3. 47B.
The cells were deposited in the Giver's smart contracts, so anybody could take part in the mining until 28 June 2022. The total for miners was 200,000 TONs per day. After two years of mining, the last Toncoin was mined, therefore completing TON's initial distribution phase.
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