TON Crypto:

TON Crypto needs to go back to its roots. It needs to get more decentralized and more open sourced. This makes crypto strong and is the opposite of blockchains like Solana where you can take a timeout and pause anytime you want.

The Open Network, a new blockchain built by the Telegram team, is a layer 1 platform made for decentralized communication.

This project has been shooting up CoinMarketCap. Find out why in this video. Welcome to BitBoy Crypto! My name is Ben. Today, we are going to be covering the TON token,

or The Open Network token. This token was built by the Telegram team. And there’s also an important historical lesson that comes along with this.

Initially, this project was an ICO for private investors, and the SEC actually shut it down completely. So the brothers who created Telegram,

what is Toncrypto ?

It’s a dual layer 1 and layer 2 project built from the ground up to become a decentralized hosting and storage solution for messaging.

You have the shard chain which handles smart contracts and the master chain that handles consensus.

Telegram was made to be a private messaging app, and TON was born out of that same premise. TON makes its own digital economy.

TON blockchain, well, it’s got full NFT integration, smart contracts support, tokenization, social networks, messaging apps, cross-chain bridges, internet protocols,

including TON DNS, TON Proxy and TON websites, and, of course, it has blockchain storage. So I guess you could say TON is a fully featured blockchain with all the bells and whistles that you could ever want. Tokenomics

Let’s talk about the TON

Right now at time of this recording, there’s about $1.5 billion in market cap for the TON token. Max supply is 5 billion TON tokens. The circulating supply right now is 1.22 billion, almost 25%.

Current price is $1.40. And it reached its all-time high of $5.84 basically the same time as Bitcoin, November 12, 2021. Like I said, the SEC crackdown in 2020 prevented the team from distributing tokens.

SEC vs TON A lot of projects would have just given up at this time. And I personally expected Telegram to give up. But they didn’t. They kept fighting. They put their TON tokens into what’s called Proof-of-Work Giver contracts.

These relied on proof-of-work mining. And this is the key to what allowed TON to begin redeveloping in 2021 after the SEC crackdown.

TON token was, of course, created by the Telegram team, but, right now,

it’s totally open sourced.

The dev team itself is decentralized. They’re all around the world. And a lot of them are anonymous. we’ve talked a lot about being concerned about anonymous developers and team members.

So that’s definitely something to keep in mind here.

Latest news So, what’s been happening lately with TON?

Well, they just had a gigantic hackathon. That led to the development of  Toncrypto stablecoins and community coins. The first IDO on The Open Network? Well, it sold out in four hours.

Toncrypto Features So Toncrypto  is a decentralized project and that got a really strong community. It goes very well with its roadmap with a lot of real solid use case.

It’s even an EVM, or Ethereum virtual machine, compatible blockchain. And already built into The Open Network is the ability for it to scale at a much higher level than Ethereum.

And all this means that Toncrypto  gives more power to the individual to communicate in a censorship-free way. Toncrypto has a lot of major backing and was on pace to be one of the largest ICOs in history before the SEC came down on them.

So now that they’ve already fulfilled what the SEC wanted, this project can really get up and running and not have to worry a lot about regulatory requirements.

TON Crypto Overview

Post navigation

Leave a Reply

Your email address will not be published. Required fields are marked *