Peek at the Performance of TON Coin, Telegram's Crypto

Todaysgist.com, Jakarta Toncoin (TON) is the native cryptocurrency of the decentralized layer-1 blockchain, The Open Network (TON). The TON blockchain is open-source and supported by many network contributors, including the Swiss-based non-profit organization, the TON Foundation.

As reported by Coinmarketcap, Thursday (4/7/2024), since 2017, the Telegram team has been developing a code base for a blockchain network, which was later named Telegram Open Network (TON), with a native cryptocurrency called Gram.

In May 2020, Telegram founder and CEO Pavel Durov announced the end of Telegram's involvement with TON Blockchain following a court order by the SEC. Gram tokens were never issued.

Since 2020, the technology has been developed by a community of independent developers and blockchain enthusiasts. The non-profit TON Foundation is the most prominent supporter.

The blockchain was renamed from “Telegram Open Network” to “The Open Network,” with Toncoin now the native cryptocurrency of the TON network.

The whitepaper contains part of the original codebase written by Dr. Nikolai Durov, Telegram co-founder and Pavel Durov's brother. Toncoin uses a proof-of-stake (PoS) consensus model for network scalability and reliability.

TON Foundation's vision is to empower 500 million users to own their digital identity, data, and assets by 2028 by empowering developers to build a Web3 ecosystem on Telegram Messenger.

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