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Technology
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TonMetrics
Overview
Pros
Cons
Metrics
LanguagesMove
Chain typeEVM
Marketcap300B USD
Ecosystems12+ Projects
Overview
The Open Network (TON) is a blockchain platform initially developed by the team behind the popular messaging app Telegram, headed by the Durov brothers, and was created with the aim of integrating cryptocurrency and blockchain functionality into the Telegram ecosystem.Designed to be highly scalable, the TON blockchain claims to be able to process millions of transactions per second due to its unique multi-blockchain architecture that employs a sharding mechanism, splitting the blockchain into smaller, more manageable segments to improve efficiency. The TON blockchain uses a proof-of-stake consensus algorithm, where validators are responsible for verifying transactions and creating new blocks, and are chosen based on the amount of TON they hold and are willing to stake. This method supports a high transaction throughput while being energy-efficient. The platform also supports advanced smart contracts, enabling developers to create decentralized applications on top of the TON blockchain. TON is the native cryptocurrency of the TON blockchain and it’s used for transaction fees, staking, and as a medium of exchange within the TON ecosystem.
Pros
Technology:TON has its own blockchain, known for high transactions per second (TPS) and rapid block finality time. It recently set a record for TPS, exceeding 100,000, thanks to its unique architecture. The network's flexibility and scalability are enhanced by a feature called asynchronicity, designed to handle mass adoption.
Telegram Integration: Telegram, with over 900 million users, offers a vast adoption potential for TON. TON is already used to fuel many Telegram dApps, and the rumored Telegram IPO could boost legitimacy and development interest. If Telegram succeeds, TON could onboard millions to crypto seamlessly.
Infrastructure Enhancements:TON's native wallet, Ton Space, and the integration of USDT (Tether) on its network make crypto usage convenient for Telegram's massive user base. This enhances developer opportunities to integrate crypto into various content and games, supporting mass adoption.Cons
Technical Issues:Despite high TPS claims, a critical problem caused TPS to drop to one for three days due to network flooding by Chinese miners. This incident indicates that TON might not yet be ready for prime time.Have aproject idea?
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