$TON

Origin of TON and components of The Open Network

In 2018, the Durov brothers, Nickolai and Pavel, envisaged a scalable blockchain to support the massive user base of Telegram and launched the Telegram Open Network (TON). However, due to regulatory challenges posed by the United States Securities and Exchange Commission (SEC), which viewed Toncoin as a security, Telegram abandoned the project in 2020. The TON community took over the project’s development, rebranding it as The Open Network with its native token, Toncoin.