Blockchain technology is advancing rapidly and is bringing new and impressive projects that aim to revolutionize digital interactions. One of these promising projects is The Open Network (TON). In this comprehensive guide, we will take a closer look at the history, components, features, and unique features of the TON platform. We will also compare it to other blockchain platforms to help you understand the differences.
What is TON?
TON, also known as The Open Network, is a high-speed, scalable decentralized platform designed to support decentralized applications (DApps). It initially started as the Telegram Open Network, developed by the Telegram team. The project is currently maintained and supported by a group of independent developers unrelated to Telegram.
Currently, Toncoin ranks 9th in market capitalization of all cryptocurrencies.
Key Components of TON
An open network consists of several essential parts that work together to ensure that the platform runs at its best.
- TON Blockchain: The core element of the project is the blockchain, a distributed ledger that tracks all transactions and events within the network. This technology ensures that all operations are transparent, secure, and immutable.
- recovery mechanism: An important feature of TON is its recovery mechanism. This allows new blocks to be created on top of invalid blocks, preventing undesirable network splits. This mechanism saves computational resources and reduces the risk of errors.
- DNS: TON DNS makes your infrastructure more accessible and user-friendly by assigning readable names to accounts, smart contracts, and network nodes.
- deputy: TON proxy acts as an intermediary between users and smart contracts. This facilitates user interaction with the application and ensures secure and efficient transmission of requests.
- payment: TON Payments is an integrated payment processing network for instant transfers between TON users, bots and services. Improves the efficiency and speed of financial transactions within the network.
- save: TON Storage is responsible for storing data within the network. A decentralized approach ensures the reliability, availability, and security of user data.
- service: TON services integrate various functions within the ecosystem. This includes identity services, asset management, messaging exchanges, and more.
What is Toncoin?
Toncoin is a digital currency on the network. It plays an important role in promoting various activities within the ecosystem.
- medium of exchange: Toncoin is the main tool for transactions within the ecosystem. Users can use it to make payments for products, services, and decentralized applications.
- Smart contract basics: Toncoin powers TON’s smart contracts, which are code programs that enforce rules and agreements between parties. Essential for execution.
- Fee payment: Users must pay a fee in Toncoin for network operation, ensuring smooth and efficient performance of the platform.
- Encourage participation: Owning Toncoin allows you to more actively participate in the TON ecosystem. Users may receive benefits or additional opportunities to participate in the network.
- distributed economy: Toncoin is very important to TON’s decentralized economy. This allows users to participate in governance and create new decentralized applications.
- Open Network Opportunities: TON provides numerous opportunities for developers, users, and enterprises. Let’s look at the main possibilities.
- High performance and scalability: TON was designed with high performance and scalability in mind. You can process numerous transactions and requests quickly and efficiently.
- Decentralized Application (DApp): Developers can build DApps on TON using Toncoin as the primary medium of exchange. This opens up exciting possibilities in finance, social networks, gaming, and more.
- Distributed data storage: TON provides a distributed data storage system that ensures the security and availability of information. This is especially important for applications that handle sensitive data.
- built-in service: TON provides basic services such as identity verification, messaging, and asset management. These services simplify development and improve user experience on the network.
Prospects and future of open networks
Open networks have great potential for future growth and innovation.
- new industry field: As interest in decentralization grows, blockchain developers can use TON to create innovative applications in various fields such as finance, education, and healthcare.
- business improvement: TON’s smart contract system can improve business processes, making them more efficient and transparent. This is attractive to both companies and individual entrepreneurs.
- Scaling and Performance: Designed for speed and scalability, TON is attractive to organizations looking for a reliable and efficient blockchain solution.
- Global adoption: As TON develops and adds more features, it is likely to gain popularity globally, attract more users, and increase activity in the ecosystem.
Comparison with other blockchains
TON stands out among blockchain platforms due to its unique features. Let’s compare it to some popular platforms.
- Block creation and confirmation time: The TON blockchain creates blocks in approximately 5 seconds per shard chain and confirms them within 6 seconds. In comparison, Ethereum’s block creation time is 12 seconds and confirmation takes up to 15 minutes. Solana creates a block every second, but confirmation takes 6.4 seconds.
- Simple Transaction Speed: TON provides fast and easy transactions. Ethereum and Solana also offer high performance, but fee levels and efficiency may vary depending on usage.
- Speed of Complex Transactions: TON is excellent at quickly processing complex tasks. Ethereum and Solana have poor performance metrics in this area.
- scalability: TON supports workchain and dynamic sharding, enabling millions of transactions per second. Ethereum supports chain sharding of up to 64 shards, but the details of communication between shards are still unclear. Solana does not support sharding or workchain, which may limit scalability.
Is there an airdrop?
As expected, yes. Almost every chain tries to attract new users by offering airdrops. As always, we’re right in the middle of it all!
Let’s start with a sad story
We registered and promoted “Notcoin Airdrop”, a Telegram app game that rewards users with $NOT on the Ton blockchain. By playing our games, referring users, and staying active, we earned a whopping 46 million Notcoins. Yesterday, when the $NOT market opened on Binance, Bybit, and other exchanges, the price was over 1 cent per coin. That’s a ton of coin for us.
However, I think it is better for a project to RUG its early supporters and promoters. They didn’t care at all about the exposure and effort we put in. We sent thousands of users in the initial stages by promoting it on social media and ranking it highly on Google. There were things the project couldn’t do without us.
The team conveniently doesn’t respond to our messages or tweets.
I’m not saying our work is worth nearly half a million dollars. However, if a project pledges tokens, it must pay them out. It doesn’t matter how big the number is.
So until we get our money we conclude that Notcoin is a scam.
warning
Therefore we must advise you to be very careful. If you see $NOT, be very careful.. If you’re lucky enough to receive an airdrop, think again about what you want to do with it. If a project struggles with its early supporters and users, its long-term vision may be called into question.
Are there any other airdrops?
Not all airdrops on the TON network will be a problem for you. We must keep our faith alive. And we always check and do our due diligence on projects to ensure this doesn’t happen. We live to farm one more day.
There is currently one “NOTBITCOIN” airdrop on the TON network with a $NOTBIT ticker. We are airdropping 90% of our supply to people who sign up for Telegram Bot and play the game.
conclusion
This is an innovative project in the field of blockchain technology. Its combination of high performance, decentralization, and extensive functionality makes it an important player in the industry. The future of TON promises new achievements and innovations that will shape the future of distributed technology.
If you like our content, you can support us by signing up for a Bybit account through our referral link. Don’t forget to claim your bonus if you buy/sell or trade cryptocurrencies.
You might also like our recent guide on Runes or Liquid Stake (LST).
