Welcome to The Open Network
TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger. Later, it was handed over to our open TON Community, which has been supporting and developing it ever since.
TON was designed for lightning-fast transactions. It's ultra-cheap, user-friendly, and fully operational.
Exchanging value should be as easy as exchanging information and blockchain technology ideally service the purpose. With this goal in mind we worded the key principles of TON design and development:
- Speed and scalability to process millions transactions per second, accommodating an unlimited number of active users and sustaining operations of numerous apps.
- Intuitive user interfaces to make blockchain about people, not geeks and nerds, to help everyone buy, store and transfer assets in a convenient, familiar way.
- Decentralization to ensure reliability, stability and safety and to take steps towards a safer, self-governed world.
Telegram argued SEC claims were ungrounded but agreed to postpone the network and coin launch till all legal matters are resolved.
Investors accepted Telegram’s suggestion to revise the launch date.
The company then made it up with investors and suggested a money back road-map. It was then that independent developers and teams picked up the TON flag and continued the project.
More developers who never worked for Telegram, members of the open developer community, validators, winners of public TON Blockchain Contests and crypto enthusiasts from all over the world joined them.
As the ecosystem expands, we see a huge potential of Toncoin and numerous ways for it to work in the new economy. We expect it to go beyond a means of payment.
- Stakes deposited by validators to be eligible to validate transactions and generate new blocks and coins.
- Voting power to support or oppose changes in the parameters of the protocol.
- Income (gas) paid to validator nodes as reward for processing transactions and smart contracts under the PoS consensus.
- Loans to validators extended against a share of their reward.
- Payment for services and options implemented by TON Services, TON Storage, TON DNS, TON Proxy, TON WWW. In particular, for bypassing censorship, storing data, hiding identity, using blockchain-based domain names.
After Telegram was forced to quit the project, the open-source developer community led by EmelyanenkoK and Anatoliy Makosov went on developing and supporting the blockchain sticking to the original whitepapers where possible.
By now over 40 independent non-incorporated developers from various geographies work on the project as TON Foundation not-for-proft community funded by donations. You can find their profiles on GitHub section People.
We welcome all developers to join TON Foundation and contribute to the technology.