TON is a community-driven blockchain project. Originally called the Telegram Open Network (TON), it was developed by the team behind the social media platform Telegram but was abandoned after facing scrutiny from the U.S. Securities and Exchange Commission (SEC) in 2020. The project was later brought back to life by the Telegram community and independent developers, who renamed it The Open Network and is now controlled by a decentralized autonomous organization (DAO) called the TON Foundation. It is one of the few scalable blockchains, offering a robust and reliable ecosystem. The platform’s native coin, Toncoin (TON), has been bought by many investors and is currently one of the most trending cryptocurrencies in the market.
Is it worth investing in the TON platform, continue reading the article to learn everything about the promising blockchain project.
What is The Open Network?
The Open Network, abbreviated as TON, is a Layer-1 blockchain platform designed to support the development of decentralized applications (DApps), fundible and non-fungible tokens. So far, over a million NFTs have been minted on the network.
By utilizing the Proof of Stake (PoS) consensus, The Open Network chain is focused on delivering a highly scalable decentralized and immutable network for financial activities and a platform for users to interact, which can process millions of transactions per second.
The blockchain transitioned from a proof-of-work (PoW) to PoS consensus algorithm, aligning with the goal of providing a more environmentally friendly and efficient ecosystem. TON aims to create a link between internet users, blockchain technology, and cryptocurrency.
Advantages of The Open Network
Here are some key advantages of the The Open Network:
1. High-Speed Transactions
The multi-blockchain architecture of the network enables the processing of a large number of transactions in a short timeframe. Its ability to validate blocks almost instantaneously makes transactions faster and easier.
2. Cost-Effective Transactions
TON utilizes the Telegram messaging app to facilitate payments, making it cheaper to interact with. The high-speed transactions reduce congestion within the network and enable a seamless transfer, making it cost-effective.
3. Eco-Friendly
TON network utilizes Proof of Stake (PoS) consensus along with Byzantine Fault Tolerance (BFT), which requires only less computational power for block validation. This reduces energy consumption while making it highly scalable and environmentally friendly.
4. Telegram Integration
TON blockchain is integrated with the Telegram messenger, enabling transactions through the app. As the Telegram platform has a large number of users, file sharing and storage become more easy and hassle-free for the TON network.
How Does The Open Network Work?
The Open Network (TON) blockchain consists of two chains: the master chain and the work chain. The master chain acts as the network coordinator; managing the validator nodes and staked assets. It also ensures synchronization of components within the network.
The working chain monitors the requests from smart contracts and decentralized applications. The work chains include multiple shard chains. It facilitates parallel transactions and thereby increases the efficiency of the network. Sharding enables millions of users to engage in the platform, supporting seamless, high-speed, and cheap transactions.
The TON Virtual Machine (TVM) receives requests from the shard chain and makes necessary state changes while the network validators reach a consensus on the existing state. By maintaining an effective communication path between the master chain and the work chain, TON enables a seamless transfer of resources between dApps.
Toncoin: The Native Token of The Open Network Blockchain
Toncoin is the native cryptocurrency of the TON blockchain. It is used as a utility token for facilitating transactions within the ecosystem. TON can be staked on the blockchain to support its operations, and in return, the delegators are rewarded with additional coins. It is also used as a governance token, enabling TON holders to participate in the decision-making process of the network.
Toncoin (TON) Tokenomics
Total Supply: 5.11 billion TON
Circulating Supply: 2.48 billion TON
24-Hour Trading Volume: $203.15 million
All-Time High: $8.24 in June 2024
All-Time Low: $0.3906 in September 2021
Toncoin Price Prediction
At press time, TON is changing hands at $5.12 – down 3.47% in the last 24 hours. Below we have forecasted the prices at which Toncoin is expected to trade between 2025 and 2030 to help traders make an informed investment decision.
Note that the prices are based on TON’s current value and is subject to change depending on market conditions and growth on the TON blockchain.
| Year | Min Price | Avg Price | Max Price |
|---|---|---|---|
| 2025 | $ 5.45 | $ 14.55 | $ 25.74 |
| 2026 | $ 4.54 | $ 9.24 | $ 14.87 |
| 2027 | $ 4.98 | $ 5.73 | $ 6.95 |
| 2028 | $ 6.83 | $ 10.03 | $ 17.35 |
| 2029 | $ 13.91 | $ 20.51 | $ 34.64 |
| 2030 | $ 13.73 | $ 18.27 | $ 22.26 |
Also Read: Guide To The Open Network (TON)
Is The Open Network a Good Investment?
TON allows millions of users to interact with the network enabling seamless, cost-effective, scalable, and fast transactions. The integration of the network with the Telegram app not only enhances its popularity but also makes storage and file-sharing hassle-free. The Toncoin started with a high note compared to other cryptos and the governance and utility feature of the token even enhances its strength. However, the future of the network depends on the technology being built around the TON network and the market conditions. Fully understand the scope of the network, custody, and security of the coin before making an investment decision.