Toncoin - an innovative cryptocurrency: is it worth the attention

TON is one most promising and innovative crypto around the market right now. All the functions it has, all the services it provides users with. Let’s take a look at its formation and the possible future outcomes.

Toncoin’s (TON) definition

Telergam started its own decentralised blockchain platform - The Open Network (TON). Nowadays it is not a surprise to have a native token, which is Toncoin in that case. Main features of such a coin are high speed, security and scalability. The target is a huge amount of transactions per second. As a native token, it is used for staking and transaction fees inside its network. TON is also a fundamental crypto for different apps which were designed and built on it.

TON network’s & Toncoin’s story.

It was the year 2018. Nicholas and Pavel Durov decided to release an effective blockchain which will be operated within the Telegram users. Not so long after, brothers raised $1.7 billion through an ICO. It was a private event where they introduced the GRAM project. After the fundraising, Nicholas and Pavel created the main parts of the chain with the white paper. There was a rebrand: GRAM turned into Ton network and was tested in 2019.The US SEC organisation paid attention to this project and took legal action against TON. SEC thought of TON as a security. It created a lot of trouble for the creators. Allegations were straight: illegal offering of tokens to the US and other countries throughout the ICO in 2018. These constant lawsuits have annoyed Pavel enough to drop the project in 2020.

However, at the same time the project was passed to Clever Nod, Anatoly Makosov, Kirill Emelianenko and other specialists who are all part of an independent open-source community - Newton. It led the project to its revival.

Afterwards, NewTon foundation became The Open Network foundation after the community’s voting.

TON working principles

To understand how TON works we need to review the blockchains it is based on:

1. Masterchain. It is responsible for the most important date within the protocol. Both parameters and current values are included. This chain makes an observation for the validator’s addresses, coin stake quantities for validations and more. Moreover, it gathers all the intel about work and shard chains.
2. Workchain. This chain collects and keeps every single transaction intel and all different smart contracts data. Every workchain may have its own specific rules: address and transaction formats and Virtual Machines which operate with certain smart contracts.
3. Shardchain. It scales the solution of smaller network parts. These parts are called “shards”. Every single shard works on a personal mini-chain. It operates some transactions and smart contracts. Shardchains increase the capacity and rate of all transactions within the whole system. Such a small chain’s structure is called “vertical development”.

And if you decide to become the validator yourself - check the intel:

TON ecosystem

Main target of the TON ecosystem is to be a versatile platform for all communities. Its growth constantly continues and increases. The ecosystem is filled with various decentralized apps. Such apps are designed and launched within the Ton network. For example, DEX’s, gaming or social media applications. Moreover, TON can operate smart contracts which provide the developers with opportunities to create advanced decentralized solutions.

TON network specifics

Let’s review a big list of features of the Ton network:

1. TON Blockchain. It is quite a wide-range operable system which provides users with advanced smart contracts and microtransactions. Also, it has its own unique feature - instant hypercube rolling. All these additions are for a reason: improving and remaining of high rate, security and reliability.

Take a look on the picture below to review the worldwide validator nodes:

1. TON Storage. It is a distributed storage system for a lot of intel throughout the platform. This system gives access to gathered data and ability to share it online.

Here are the examples of TON wallets within the network:

1. TON Proxy. This is a great security advantage. The ability to use an anonymizing network, which can hide your IP address, keeps you hidden from DDoS attacks and ensures your safety during transfers of a large amount of crypto.
2. TON Services. This network provides you with a large choice of functions with standardized interfaces. All of it can be accessed with mobile phones or browsers on a PC. Moreover, developers can build and launch smart contracts by using this network.
3. TON Payments. This is a special micro transactional channel which was created to increase the rate of asset’s transfers and enable seamless cheaper payments within the TON network.
4. Operating with Third-Party Apps. This network provides users with an unrestricted information exchange with third-party apps. It prevents the transaction from disruptions and improves the quality of it.
5. TON DNS. TON network offers users catchy names for accounts, nodes, services and contracts. This intel goes through these DNS services which improves the simplicity of identification and use of the network.
6. TON DHT. It behaves like a torrent tracker for TON storage. Also it cooperates with TON Proxy as an entry point. This helps people to navigate through the TON ecosystem better and faster.

In addition let’s take a look at the Open League - the incentive program for users:

Ways to use TON

There are several ways to use TON:

1. Transaction Fees payment. It’s a native token and is used to pay for most transactions. It’s a rule of operating in the TON network. Basically, Toncoin is a universal cryptocurrency within the blockchain and claimed as a binding token.
2. Governance. Toncoin is used as a governance token for the TON blockchain. It provides the owners of this token with an opportunity to affect the future of the network. People with TON in the wallet can participate in voting which directly decides the next step.
3. Staking. As the TON blockchain operates with a proof-to-stake validation mechanism, Toncoin can be staked for transaction’s validation within the TON network. Users who stake Toncoin can gain tokens as a bonus. Let’s take a look on the example of such staking platform conditions:

Explanation to the Toncoin’s growth

The overall growth of the TON’s valuation is quite simple. This token was integrated within the Telegram. And Telegram is a very popular messenger which is explained with the numbers: more than 700 million active users in a month. You get the point. Many people who actively operate with TON believe in a future growth because of such integration. The demand will rise and the valuation will follow.

TON’s history of price fluctuations and possible values in the future

In the beginning, TON was distributed through open mining in June 2020. Any user could take part in. Mining ended in June 2022. Let’s take a look at the general valuation chart which will gives us a visual representation:As you can see, the price was decreasing, but the Telegram integration built up a high rate of growth right from the start of cooperation. Safe to say that predictions are positive, many resources and experts think that in 2030 Toncoin’s price will be around $25-$30 per token.

Is TON worth of buying

We should pay attention to all price fluctuations and historical events which occurred before. All of it speaks for itself: Toncoin has great potential because of its innovativeness and growing popularity. Telegram integration, new promising projects - TON is worth buying. The bullish tendency is strong. The choice is yours: to join this wave or not. Safe to say that you need to work with your risk management and prepare for investing.

Benefits & Drawbacks

Let’s take a look at both sides of TON. First of all, its benefits:

1. Scalability. Shardchain provides a possibility for millions of transactions just per one second.
2. Speed. It is one of the highest-rated blockchains nowadays. Transactions are operated within seconds.
3. Low prices. Transaction fees are incredibly low within the TON ecosystem.
4. Safety. The BFT consensus algorithm and the decentralized network provides all transactions with high security and helps to defend DDoS attacks.

However, even TON has its disadvantages:

1. It is relatively new. Even if it is a promising project - time will show the amount of trust it will gather.
2. Staking’s centralization. The PoS mechanism gives more influence to large stakeholders of TON.
3. Competition. The blockchains are very competitive. Every single project endeavors to be the fastest, the most scalable and the cheapest to operate with.

Q&A

1 TON cost

Right now 1 TON = $6.22.

Can i buy TON

There are several exchanges which provide you with an opportunity to buy TON. For example, Binance or Coinbase. There are a lot of payment methods. It simplifies the process.

Possible TON price in the future

Several predictions exist, but the average cost is predicted around $25-$30 in 2030.

Is it the right time to invest in TON now

It is the bullish tendency right now. Current market situation is favourable for such investment.