info

Toncoin

TON
Key Metrics
Toncoin Price
$4.67
0.35%
Change 1w
13.85%
24h Volume
$223,460,941
Market Cap
$11,817,961,229
Circulating Supply
2,532,707,612

What is TON and Toncoin?

TON is a decentralized layer-1 blockchain developed by the Telegram team. Toncoin (TON) is the native cryptocurrency for The Open Network. It aims to help fast, secure transactions in a decentralized ecosystem and is used inside different applications within the TON network.

What Problem Does Toncoin Solve?

There are several critical issues Toncoin would address: Scalability: The TON core builds in high transaction throughput to support widespread use. Transaction Speed and Costs: The transactions are breakneck with low fees; hence, it is tailor-made for everyday use and microtransactions. Interoperability: The network is created to interact with other blockchains to unify different blockchain ecosystems.

Why Does the Crypto Market Need Toncoin?

There are reasons why Toncoin is indispensable in the market: Decentralization: It complements the feature of decentralization in financial transactions in a manner where people don't have to rely on a centralized force. Integration with Telegram: Being a popular messaging platform, the integration of Toncoin into Telegram popularizes it even further and opens up many potential applications. Innovative Features: TON, with features like infinite sharding and hypercube routing, aims to set new standards in blockchain technology.

History of Toncoin

TON was an idea that was developed by Telegram in 2018 and was to be part of the Telegram Open Network (TON) project. However, due to specific regulatory challenges, the U.S. Regulators, concerned that the coin would be a security, as defined by the U.S. Securities and Exchange Commission (SEC), left the project in 2020. The development was since continued by the open-source community, and developers like Anatoliy Makosov renamed TON to The Open Network.

Who created USDT?

Toncoin was developed by Telegram founders Pavel and Nikolai Durov. After Telegram had retracted itself, the deal was taken over by the TON Foundation, an open-source community initiative.

How does Toncoin relate to Pavel Durov?

Pavel Durov, the founder of Telegram, was the first initiator of creating Toncoin. Though the project is no longer being carried out under the leadership of Telegram, the vital force and authority it got initially from Durov turned an otherwise relatively unknown project into an asset for the whole TON ecosystem.

What technology does Toncoin use, and how does it work?

The most significant features of the Toncoin architecture are the following: Paradigm of Infinite Sharding: Allows for split and merge on demand without compromising blockchain performance. Hypercube Routing: Makes sure inter-blockchain communication is quick and reliable. Proof-of-Stake (PoS) Consensus: PoS takes care of network security with staking, meaning validators are chosen according to their stake in the network.

How Does the Toncoin Price Get Formed?

The price of TON is determined through market forces: supply and demand, market sentiment, and general trends in the cryptocurrency market. A few factors could strongly influence the price of Toncoin: integration with Telegram, technological development, and regulatory news. How Many TON Tokens Are in Circulation? There are currently over 2.43 billion TON tokens in circulation.

What is the Maximum Supply of Toncoin?

Toncoin's maximum supply limit is 5.11 billion tokens.

How is Toncoin Used?

Transaction Fees: Payments for on-chain transaction processing within the TON network. Staking: Validators can stake Toncoin to secure the network and block rewards. Decentralized Applications: Enables services like smart contracts and DeFi applications in the TON ecosystem.

Toncoin Tokenomics

Toncoin is based on a PoS consensus algorithm that rewards the network keepers. It follows, therefore, that it has a tokenomics model that incentivizes people in the network, mainly through staking and transaction fees, making it sustainable and secure.

What is the All-Time High and All-Time Low for Toncoin?

Toncoin was traded at its price peak of $7.81 on June 5, 2024, and the lowest price of $0.52 on September 21, 2021.

Where to Buy Toncoin?

Toncoin is tradable on most big cryptocurrency exchanges, including Binance, KuCoin, OKX, and Gate.io.

Who Invested in Toncoin at an Early Stage?

Early investments in Toncoin came from private rounds, led by Telegram, which totaled $1.7 billion for developing the project TON. After problems with regulations arose, the continuous development of the project was accepted by the general TON community and several developing groups.

What Are the Revenue Streams of Toncoin?

Revenue streams of Toncoin and the TON ecosystem: Transaction Fees: The ability to charge for processing transactions on the network. Staking Rewards: Validators securing the network earn these. Ecosystem Growth: The more dApps and services there are on the TON network, the more an increase in demand for Toncoin will be realized, thus serving indirectly as a revenue source.

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Latest News
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Toncoin Outperforms Amid Market Slump, Despite Durov's Arrest
Aug 28, 2024
The crypto market took a nosedive. But Toncoin (TON) managed to keep its head above water. The TON blockchain restarted after a five-hour outage. It had been down due to the popularity of the DOGS airdrop. This airdrop was part of a campaign to support Pavel Durov. Durov's arrest sent shockwaves through the crypto world. The Telegram founder was nabbed by Russian authorities last week. They accused him of "undermining national security" through his messaging app. It's a charge that could see him behind bars for up to 20 years. The crypto market's reaction was swift and brutal. Investors panicked, fearing increased government crackdowns on digital assets. TON, closely associated with Telegram, initially took a hit. But it's showing surprising resilience. Some speculate it's due to a "Streisand effect" - the arrest inadvertently boosting interest in TON. TON's losses were less than 1%. Meanwhile, the broader market tanked. The CoinDesk 20 index plummeted over 6.5%. Bitcoin led the market slide. It dropped 6%. This triggered a massive $300 million in crypto futures liquidations. It's the highest since August 5. Other major coins followed suit. Ether, Solana, Cardano, and Dogecoin all fell more than 5%. XRP showed some resilience, dropping only 3.4%. Ether futures saw the biggest hit. They racked up $102 million in liquidations. Bitcoin wasn't far behind at $96 million. The dump coincided with outflows from U.S.-listed bitcoin ETFs. They saw over $127 million walk out the door on Tuesday. This ended an eight-day inflow streak. Augustine Fan from SOFA chimed in. "Traders scrambled to buy downside protection," she said. "The underlying momentum remains poor." AI tokens, which had been riding high on Nvidia hype, also took a beating. NEAR dropped 10%, while ICP fell 6.5%. Katie Stockton from Fairlead Strategies weighed in. "Sentiment around AI has definitely shifted," she noted. She expects increased volatility ahead. On a brighter note, Hong Kong's Hex Trust launched a staking partner program. It's a sign that institutional interest in crypto isn't dead yet.
Trust Wallet Bets Big on TON Blockchain: A GameFi Gambit
Jul 31, 2024
Trust Wallet, a major player in self-custody Web3 wallets, has inked a deal with The Open Network (TON). The partnership aims to boost blockchain adoption. It's a big move. The collaboration taps into Telegram's massive user base. Trust Wallet plans to focus on gaming finance (GameFi) and decentralized applications (DApps). It's a smart play. Trust Wallet's 100 million users will now be able to send and receive Toncoin (TON) tokens. That's according to a press release shared with Cointelegraph. It's a game-changer for TON. Nate Zou, Trust Wallet's head of product, spoke to Cointelegraph. He said the company plans to "provide more access to [the] Ton ecosystem" for users. Single chain and cross-chain swaps are on the cards. TON NFTs might also get support. The integration promises smoother interactions with TON's blockchain tech. TonKeeper wallet imports into Trust Wallet are coming "in the coming weeks". That's pretty soon. More features are in the pipeline. TON Connect and TON DApps integration is planned "in the coming months". Users are in for a treat. Zou called the partnership a "natural progression" for Trust Wallet. He said their values align with TON's "community-driven and user-friendly approach". It's a match made in Web3 heaven. Trust Wallet recently launched an open-source solution called Barz. It's an ERC-4337-compatible smart wallet. The aim? To help devs overcome wallet challenges and boost Web3 adoption. Luis Ocegueda, Trust Wallet's engineering head, praised open-source development. He said it allows developers to "do things that we may or may never had even an idea that can do". It's all about innovation. In other wallet news, Ledger unveiled a new touchscreen wallet. CEO Pascal Gauthier outlined three key aspects of wallet security. He claims their new wallet ticks "all three boxes". It's a bold statement in the competitive wallet market.
TON Blockchain Introduces New Wallet With Gasless Transactions, A Game-Changer?
Jul 25, 2024
The Open Network (TON) blockchain has rolled out a new smart wallet. It's called W5. The wallet promises gasless transactions. This is a big deal in the crypto world. TON Core team worked with Tonkeeper on this project. The wallet is an upgrade to TON's existing smart contract. It's already live on Tonkeeper. Soon, it'll be on TON Space and MyTonWallet too. So, what's the fuss about? Well, users can now use Tether for gas fees when transferring USDT. They can use Notcoin for gas fees when moving Notcoin (NOT). This is pretty cool stuff. The W5 wallet was Tonkeeper's brainchild. TON Core team gave it the thumbs up. Why? It's all about making transactions smoother on the TON blockchain. Here's the kicker: users won't need to hold Toncoin for payments anymore. This could be a game-changer for newbies. It might just knock down some barriers for them. But wait, there's more. The smart wallet can handle up to 255 transactions at once. Talk about efficiency! A TON spokesperson told Cointelegraph: "We're stoked about this new feature. It's going to make life easier for our users." The crypto community is buzzing about this news. Some are calling it a "revolutionary step" in blockchain technology. Others are more cautious, waiting to see how it plays out. One crypto analyst said: "It's an interesting move. But let's not get ahead of ourselves. We need to see how it performs in the real world." So, what's next for TON? They're keeping their cards close to their chest. But if this wallet takes off, just as many other of the Telegram's new projects, it could shake things up in the crypto world. The revolution suddenly emerges from the area, no one was expecting, i.e. from the popular messengers. Watch this space.
More Articles About Toncoin
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Five Consequences of Pavel Durov's Arrest for the Crypto Market
Aug 26, 2024
The recent arrest of Pavel Durov, the founder and CEO of Telegram, and one of the internet's last standing true heroes, has sent ripples through the cryptocurrency market, particularly affecting assets associated with the messaging platform. But there is more to it. Some analysts say Durov's arrest has a lot to do with freedom and transparency of the crypto market and tech industry in general. Durov's detention by French authorities at Le Bourget airport near Paris on August 24, 2024, has raised significant concerns about privacy, regulation, and the future of encrypted communications. Durov is a controversial figure. He is often accused of being cooperative with Russian authorities. Yet, he is dubbed the voice of freedom in the internet. Let's take a look at what happened with Durov on Saturday, how the market reacted and what major consequences of his arrest on the crypto market may occur. Details of Durov’s Arrest Pavel Durov, the founder and CEO of Telegram, was arrested on August 24, 2024, by French authorities at Le Bourget airport near Paris. His arrest was prompted by a French search warrant issued by the Office of the French National Judicial Police Directorate, which accused him of failing to moderate illicit activities on Telegram. There is a rather long list of those, including drug trafficking, child exploitation, and money laundering. The arrest reflects ongoing international efforts to clamp down on digital platforms perceived to be enabling criminal activities under the guise of privacy. Some sources indicate that Durov might have known what was cooking, but decided to take his chances. According to recent Bloomberg publication, the main reason why Durov was detained is the Telegram's controversial decision to allow users to transfer crypto between wallets in user's accounts without any external control. Many countries see it as a direct way to finance terrorism and numerous illegal activities. Durov's stand on this question was as clear as always. It was always about people's freedom, he said. Who Made Statements to Support Durov Following Durov’s arrest, several prominent figures in the tech and crypto communities voiced their support for him. Elon Musk tweeted, “Pavel has always been a champion of free speech and privacy. We must stand by those who defend these fundamental rights, especially when governments overreach.” Edward Snowden, a known advocate for digital privacy, wrote on X, “Durov’s arrest is a stark reminder of the cost of defending privacy in an age of surveillance. His commitment to user privacy should be a model, not a criminal case.” Vitalik Buterin, co-founder of Ethereum, also expressed his concerns: “The crypto community must rally around Durov. His work on privacy and decentralization aligns with our core values. We need to support platforms that prioritize freedom and resist censorship.” These statements highlight a growing unease among tech leaders about increased governmental interventions in digital privacy and encryption Consequences of Durov's Arrest for the Crypto World Immediate Impact on Toncoin Prices and Market Sentiment Following Durov's arrest, the price of Toncoin (TON), a cryptocurrency closely associated with Telegram, experienced a sharp decline. No fortuneteller's gift was required to foresee this, to be honest. Within hours of the news breaking, Toncoin’s price plummeted by 16%, reflecting widespread investor panic and uncertainty about the future of the platform and its affiliated digital assets. The arrest also led to a 32% surge in Toncoin's open interest, as traders began hedging their positions amidst heightened market volatility. This initial price drop indicates a loss of confidence among investors and traders, who are now more cautious about assets linked to figures under legal scrutiny. Increased Regulatory Scrutiny and Potential Crackdowns Durov’s arrest underscores the growing tension between privacy-focused platforms and government authorities. The charges against him include allegations of facilitating illegal activities on Telegram, such as drug trafficking, child exploitation, and money laundering. This is basically ridiculous for anyone who understands how an internet messenger works. But authorities see the whole picture in a different way. This development signals a potential wave of increased regulatory scrutiny for platforms and assets that prioritize user privacy and operate with minimal oversight. As a result, there could be stricter regulations imposed on other cryptocurrencies and blockchain projects, especially those associated with privacy and anonymity. Shift Towards Decentralized and Privacy-Resistant Technologies The arrest has also sparked discussions within the crypto community about the need for more decentralized and censorship-resistant technologies. Telegram’s centralized nature, despite its strong privacy features, made it vulnerable to government actions like this arrest. In response, there could be a significant push towards adopting decentralized platforms that are inherently more resistant to regulatory pressures and government interventions. This shift might foster innovation in blockchain-based communication tools and privacy-centric cryptocurrencies, which could reshape the market landscape in favor of decentralized solutions. Impact on Investor Confidence and Market Volatility The arrest has shaken investor confidence, not just in Toncoin but in the broader market, as it highlights the vulnerability of key figures in the crypto industry to legal challenges and governmental actions. Market volatility has been evident in the fluctuating prices of Toncoin and other related assets, with traders speculating on potential outcomes of Durov’s legal battle. The uncertainty surrounding the situation is likely to continue driving erratic market behaviors, as investors weigh the risks of regulatory crackdowns against potential rebounds. Precedents for Future Legal Actions Against Tech Executives Durov's case could set a precedent for how aggressively authorities might pursue tech executives for failing to moderate content or comply with regulations. This arrest could be a testing ground for new legal strategies to hold platform operators accountable for the actions facilitated by their services. If Durov faces significant penalties or prolonged legal battles, it could deter other tech leaders from pushing the boundaries of privacy and decentralized technologies. Moreover, it could lead to a chilling effect on innovation in privacy-centric tools within the crypto space, as companies may seek to avoid similar confrontations with regulators. A Dangerous Precedent Pavel Durov's arrest represents a critical moment for the crypto market, reflecting broader themes of privacy, regulation, and the evolution of decentralized technologies. The immediate effects on Toncoin's value and investor sentiment are just the beginning; the long-term implications could reshape the landscape of digital assets and privacy-centric platforms. As this situation unfolds, the crypto community will closely watch for signals that could indicate future directions for both regulation and innovation in the sector.