Toncoin (TON)
What Is Toncoin (TON)?
Toncoin (TON) is the native cryptocurrency of the decentralized layer-1 blockchain, The Open Network (TON). The TON blockchain is open-sourced and supported by many network contributors, including the Switzerland-based non-profit organization, the TON Foundation. Since 2017, the team at Telegram has been developing the codebase for the network, then-named Telegram Open Network (TON) and native cryptocurrency 'Gram.' However, in May 2020, Telegram founder and CEO Pavel Durov announced the end of Telegram's involvement with the TON Blockchain, following a court order by the SEC. The Gram token was not issued. Since 2020, the technology has been developed by a non-commercial group of supporters and an independent community of enthusiasts, the TON Foundation. The blockchain was renamed from "Telegram Open Network" to "The Open Network" and Toncoin is the native cryptocurrency of the TON network. The whitepaper contains part of the original codebase written by Dr. Nikolai Durov, co-founder of Telegram and brother of Pavel Durov. The original idea was to integrate TON into an easy-to-use application that allows users to buy/send/store funds. Clients pay transaction fees and use TON to settle payments or validate transactions. Toncoin utilizes the proof-of-stake (PoS) consensus model for network scalability and reliability. According to the project website, the platform provides fast, transparent and secure payment services, facilitating transactions with minimal fees and third-party applications. The developers’ mission is to build a full-fledged ecosystem with decentralized storage, decentralized services, a domain name system (DNS equivalent), an anonymous network, an instant payment platform, and affordable/fast transaction processing.
Who Founded Toncoin?
The Open Network (TON) is an open-source and decentralized blockchain. The TON Foundation, which launched and developed The Open Network (TON), was founded by Anatoliy Makosov and Kirill Emelianenko.
What Makes Toncoin Unique?
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. The developers focus on scalability, efficiency and mass adoption. Due to the well-established interaction between segments, the network provides ultra-fast transactions, verifying and processing a massive amount of TPS. The TON network offers the following services: TON Wallets, a built-in wallet function designed to transfer funds and interact with platform services and offers two categories of wallets: custodial and non-custodial; TON Services allows developers to create various dApps while users can access third-party apps through a user-friendly interface; TON Storage offers the benefits of private encryption using the private key of the owner's wallet; TON Proxy uses all platform components and allows clients to access the TON blockchain via decentralized VPNs; TON DNS (decentralized name system) makes it possible for traditional websites to work in the TON network, allowing users to set short, readable names.
How Many Toncoin (TON) Coins Are There in Circulation?
The TON network has its native token, Toncoin, with a circulating supply of 3.47B TON and a maximum supply of 5B TON. Toncoin was designed to fuel the ecosystem. It can be used to build decentralized applications (dApps), act as a transaction processing fee, as a cross-chain transaction fee, and as a staking payment to secure the blockchain and services. The list of use cases also includes payment for decentralized data storage, TON DNS/TON Proxy, and other fees within decentralized services. Validator fees are also paid in TON. In addition, people can vote with TON for changes and development within TON's governance program.
How Is the Toncoin (TON) Network Secured?
The network utilizes the proof-of-stake (PoS) consensus mechanism to validate transactions. Moreover, Toncoin is used to reward validators. Nominators can also provide tokens to validators and receive rewards. Validators and nominators are managed with smart contracts, providing the network with extra protection. Smart contracts are executed using TON Virtual Machine (TVM).
Where Can You Buy Toncoin (TON)?
Toncoin (TON) is listed on multiple crypto exchanges like Huobi Global, KuCoin, Uniswap (V3), Gate.io, OKX, LBank, MEXC, EXMO, CoinEx, Biswap, BitMart, Nomiswap, BitoPro, ACE, DigiFinex, Tidex, Unocoin, Bit.com, BingX and HitBTC. Read CoinMarketCap's in-depth guide on tokenomics.
What tools does Nimbus offer for effortlessly monitoring Toncoin?
Nimbus provides a user-friendly tracking solution equipped with intuitive tools to monitor Toncoin effortlessly. These tools are specifically designed for user convenience, allowing individuals to stay seamlessly updated on the latest trends, prices, and information related to Toncoin. Users can also explore the world of cryptocurrency effortlessly while simultaneously tracking Toncoin prices. The platform also offers insights into profit and loss, providing a comprehensive experience without the complexity typically associated with monitoring cryptocurrencies.
How does Nimbus enable tracking Toncoin prices with profit and loss?
Nimbus facilitates the tracking of Toncoin prices with profit and loss through seamless integration with your crypto wallet for portfolio monitoring. By connecting with your crypto wallet, Nimbus provides a clear and comprehensive overview of various metrics, including profits, losses, revenue, expenses, return on investment (ROI), and other essential financial indicators. This integration ensures that users can analyze their cryptocurrency portfolio with precision, gaining valuable insights into their financial performance. With Nimbus, users can navigate the cryptocurrency landscape with a perfect blend of simplicity and sophistication, enhancing their ability to make informed investment decisions.
How does Nimbus analyze Toncoin, and what insights does it provide?
Certainly! Nimbus possesses a robust analysis tool that is adept at evaluating and interpreting Toncoin . The tool employs diverse strategies, including delving into metadata details, tracking marketplace data, and calculating performance metrics such as Return on Investment (ROI). Through these methodologies, Nimbus provides users with valuable insights into the composition and performance of their Toncoin. Users can gain a comprehensive understanding of their investment. The analysis tool ensures that users are equipped with the necessary information to navigate the cryptocurrency landscape with confidence and intelligence.
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TON Market Statistics
Price USD
$7.23Market Cap
$25,118,368,103.89Total Volume USD
$764,010,195.90Total Supply
5,106,541,923.29 TONCirculating Supply
3,474,016,073.19 TONFully Diluted Market Cap
$36,922,108,897.80Socials
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