Toncoin (TON): What is it, and Why is it Often Associated with Telegram?

The crypto space is a fantastic ecosystem that fosters the development of new additions that can bring improved features over the previous digital coins. Toncoin is the native cryptocurrency of The Open Network (TON), which had an interesting evolution.

At first, Telegram was behind the idea of Toncoin, but it met some challenges on the way. So, Toncoin needed to adapt to ensure this cryptocurrency became a reality and was not limited only to an idea. 

If we look at the Toncoin price prediction, we can see that this digital currency has the potential to increase its value in the future, making it a great option to add to a portfolio. This is why Toncoin can be an essential player in the crypto space and be utilized for other impressive use cases. The Open Network offers a scalable, fast, and secure network that can process a huge number of transactions per second, which is something essential. 

In this article, we will discover more about Toncoin and why it is often associated with Telegram. 

The History of Toncoin

The origins of Toncoin can be traced back to 2018, and Telegram has something to do with the first steps that Toncoin has taken in the world. However, the journey of Telegram with Toncoin wasn’t that linear; it was full of obstacles that posed many challenges in its development. The men behind the idea of Toncoin are the Durov brothers, Pavel and Nikolai, who had a great vision with TON as a digital ledger. The brothers wanted TON to serve similarly to the App Store and Google Play but with a switch to decentralized apps. At that time, Gram was the digital coin they wanted this blockchain to have, which could have served a lot of use cases, such as subscribing to the applications, paying for the content on TON, or even buying goods and services. 

The project even benefited from a large ICO, raising around $1.7 billion. This initiative was taken to be the foundation of the TON blockchain, with the goal that this project would later be integrated into the Telegram ecosystem. As seen from the developers’ enthusiasm, this project initially had an important hype, which shows that individuals were confident that TON would be a total success. 

However, no one expected that this project would soon meet that many regulatory hurdles, and because of this, it didn’t benefit from the evolution that people had expected. Soon after the ICO event, the U.S. Securities and Exchange Commission (SEC) took legal proceedings against Telegram and filed a lawsuit because its ICO was an unregistered securities offering. This put the project on pause, and Telegram pulled out of it. The money received through the Initial Coin Offering was also returned to investors. Still, because people saw that this project attracted a lot of enthusiasm, the idea behind it didn’t fade away, and now TON has returned to the stage and has the potential to become an important player in the crypto sphere.  

TON returned: What’s next?

Even if Telegram didn’t have something to deal with the return of TON, this app is a true platform enthusiast. For example, in September 2023, TON Space self-custodial wallet was integrated into Telegram, and at that time, it attracted 800 million active users. Then, the relationship of Telegram with TON continued in 2024 as well, when the Messenger app added an ad revenue-sharing system, where the payment for ads was used with Toncoin. This digital coin can also be used as a reward system for channel owners or to pay for advertising that appears on the app. Telegram has turned to the TON blockchain because it has a lot of interesting features, such as great efficiency and rapid speed, which make the entire ad purchase process as smooth as possible. 

What are the amazing attributes of Toncoin and TON?

TON is a notable example both as a blockchain and a cryptocurrency, and it can finally solve some of the limitations that the other previous blockchain had, which were related to speed, scalability, and usability. TON is an innovative blockchain with amazing features like sharding technology, instant hypercube routing, and an infinite sharding paradigm. Thanks to the sharding mechanism of TON, this blockchain can split into shards, and because of this feature, TON can manage a high throughput that is bigger than that of the other blockchains. Additionally, smart contracts and all transactions will be processed more efficiently. 

Another important feature of Toncoin is its infinite sharding program, which allows TON to scale to be suitable for a high number of transactions. The instant hypercube routing ensures that all transactions occur on time, improving user experience and reducing waiting times. TON uses a combination of consensus mechanisms, where besides a Proof-of-Stake (PoS), the blockchain also has a Byzantine Fault Tolerant (BFT) model. This combination can greatly impact the security of this platform, preventing cybersecurity hacks and maintaining the integrity of the network. 

Another notable feature of the blockchain is the TON Virtual Machine (TVM), which executes smart contracts. With TVM, developers can also create versatile and complex dApps to offer users a high-performance experience. 

What can TON experience in the future?

The future of Toncoin looks very positive, as it has the chance to cement its position as an important blockchain and cryptocurrency, which can drive even more adoption. Additionally, for all these innovations, TON can consider plenty of other use cases, with the final goal of making this platform a dynamic network that can support numerous applications across various sectors. In the future, TON can attract even more collaborations and partnerships, making it even more appealing to investors worldwide.

Toncoin is a good example that shows that some crypto projects could succeed even if they don’t have such a linear path until fully launched. If the project continues to focus on the same innovations, we can expect Toncoin to be one of the most important cryptocurrencies.

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