What Is TON Coin (TONCOIN)?
TON - The open network seeks to be a secure, fast, and scalable blockchain project that can handle numerous transactions every second. The blockchain-based ecosystem of TON aims to produce genuine Web3 internet with the anonymous network, decentralized storage, instant payments, and numerous other decentralized services.
According to the whitepaper, TON seeks to be a flexible multi-blockchain platform that can process millions of transactions every second with smart contracts, multi-cryptocurrency value allocation, upgradable blockchain specifications, and influencing micropayment mediums. The platform was formed with an intention to provide fast transactions, seeking to make it inexpensive, user-friendly, and exclusively operational.
In addition, the TON aims to offer a versatile forum for third-party services. It seeks to allow user-friendly interfaces for smart contracts, decentralized apps (DApps), and decentralized browsing experiences. The platform also aims to present a browsable registry of decentralized applications and services. Another platform feature that the TON offers is TON payments, which seeks to provide a platform to the users for micropayments. Safeguards assembled within the system aim to guarantee secure transactions. Moreover, TON seeks to enable quick incorporation with third-party social networking applications and messaging, making the blockchain technologies accessible to common users.
The platform also has a TON proxy feature that assists in creating decentralized VPN services and TON alternatives based on blockchain, aiming to obtain anonymity and protect online privacy.
The token with the symbol TONCOIN is the native currency of the platform. The token can be employed for transaction fees, storage payments, and gas fees. Users can use TONCOIN tokens to pay for the services offered by apps created on the TON platform. Also, it is used to pay for creating an extra number of currencies and new work chains. The token also has the voting power needed to support amendments in the protocol’s parameters.
History of TON Coin (TONCOIN)
TON was created by the Durov brothers, the Telegram Messenger founders, in 2018. It was thereafter handed over to the open TON community, which has continued to support and develop it since then.
The maximum total supply of TONCOIN tokens is five billion tokens.
