The Telegram Open Network (TON) coin, formerly known as Gram, is an interesting blockchain project with a turbulent history. We invite you to familiarize yourself with its history and key features:
TON Blockchain Overview:
- Launch Date: The Telegram Open Network was launched in 2018 as a Tier 1 blockchain.
- Split Proof of Stake: #TON uses a consensus mechanism with split proof of stake, which ensures high transaction speed.
Plan OG - Gram
- Initially, the native currency of TON was called "Gram" and was intended for payment of transactions, settlements and network operations.
- Telegram raised a staggering $1.7 billion in its initial coin offering (ICO), making it the second largest ICO after EOS.
Drama at the US Securities and Exchange Commission
- Telegram faced regulatory challenges from the US Securities and Exchange Commission (SEC), which considered Gram tokens to be unregistered securities.
- The SEC's intervention led Telegram to end its participation in the project.
Community absorption:.
- TON's open source allowed the project to continue under community management.
- The project was renamed "Open Network" with the abbreviation TON.
Current functionality:
- TON Coin now serves as the main cryptocurrency in the network, facilitating various functions.
- It allows you to make free transfers through a special wallet and ensures the operation of Telegram mini-applications.
- Additional services include TON Storage and decentralized VPN.
Speed and Tokenomics
- TON is known for its speed, reaching a record 55,000 transactions per second in 2021.
- In 2022, the blockchain moved from proof of work to proof of stake.
- There are currently 3.4 billion TON coins in circulation out of a maximum supply of 5 billion, and annual inflation is only 0.6%.
The DAO and Roadmap:
- TON operates as a Decentralized Autonomous Organization (DAO), enabling token holders to influence its future.
- The activity of developers increased sharply, by 102% compared to last year.
- TON uses Telegram's wide user base to attract more projects, including the blockchain game Tap Fantasy.
Thus, TON is an interesting blockchain project known for its speed, strong community support, and diverse ecosystem. Its move from Gram to TON Coin reflects its resilience and adaptability in the face of regulatory challenges. Thanks to its constant development and expansion of uses, TON remains a project to watch in the cryptocurrency space.
