Toncoin

Toncoin is the native cryptocurrency for The Open Network (TON), a decentralized and open internet created by the community using a technology designed by Telegram. 

Toncoin is used for network operations, transactions, games or collectibles built on TON.

Originally, the blockchain platform was created by brothers Nikolai and Pavel Durov, and developed by the Telegram team. The project was then abandoned. The current network was launched and developed by Anatoliy Makosov and Kirill Emelianenko, members of the community called NewTON (later the TON Foundation). The TON Fondation renamed the “Telegram Open Network” to “The Open Network”.

Toncoin (TON)  was originally developed in 2018 by the encrypted messaging platform Telegram.

TON utilizes a proof-of-stake (PoS) consensus model for network scalability and reliability. According to the project website, the platform provides its customers with fast, transparent and secure payment services, facilitating transactions with minimal fees and third-party applications.

TON has a multi-level structure built on the principle of sharding or segmentation (“blockchain within a blockchain”). A sharding feature involves the use of multiple subnets (shards) on the same blockchain, where each shard has a specific purpose. It allows the net to avoid the accumulation of unverified blocks and speeds up tasks. The TON network consists of the master, work and shard chains.