The Open Network (TON) is a blockchain created by the Telegram team for decentralized communication. TON is a dual layer 1 and layer 2 project designed to become a decentralized hosting and storage solution for messaging. It features full NFT integration, smart contracts support, tokenization, social networks, messaging apps, cross-chain bridges, internet protocols, TON DNS, TON Proxy, TON websites, and blockchain storage. TON is open sourced, with a decentralized dev team. The TON token has a market cap of around $1.5 billion, and its max supply is 5 billion tokens. TON has a strong community and is censorship-free.
Crypto Needs to Return to Its Roots
Crypto needs to become more decentralized and open sourced to increase its strength. This is in opposition to blockchains like Solana, which provide the ability to pause and take a timeout.
The Open Network and Its Success on CoinMarketCap
The Open Network, a blockchain built by the Telegram team, is a layer 1 platform created for decentralized communication. It has seen significant growth on CoinMarketCap.
Exploring TON Token
The TON token was built by the Telegram team and is a dual layer 1 and layer 2 project designed to become a decentralized hosting and storage solution for messaging. Initially, the project was an ICO for private investors, but it was shut down by the SEC. The team has returned with a version that is more regulation-friendly.
Tokens and Tokenomics
Currently, the market cap for TON is approximately $1.5 billion, with a max supply of five billion tokens. The circulating supply is 1.22 billion, and the current price is $1.40. The SEC crackdown prevented the distribution of TON tokens, but the team continued to fight and used Proof-of-Work Giver contracts to begin redeveloping in 2021.
Features of TON
TON has full NFT integration, support for smart contracts, tokenization, social networks, messaging apps, cross-chain bridges, internet protocols, and blockchain storage. It is also an EVM-compatible blockchain and has the ability to scale at a higher level than Ethereum.
Decentralization and Community Support
The TON dev team is decentralized and anonymous, which can be concerning in the event of an issue. However, TON has a strong and supportive community and a powerful roadmap. It gives individuals the power to communicate in a censorship-free way.
TON is a project to keep on the radar, with a lot of potential as a decentralized project. It is working to fulfill regulatory requirements and has strong community support.