WHAT IS TON COIN?

The Open Network (TON) is a blockchain and network project originally developed by Telegram and later taken over by an independent community.

TON set out to represent a blockchain technology that aims to offer high scalability, speed, and user-friendly interfaces.

Initially called "Telegram Open Network", the project aimed to create a crypto ecosystem offered by Telegram along with a messaging platform. However, after the SEC prevented Gram tokens from being offered to investors, Telegram stopped its project and the independent community TON Foundation took over the project.

TON Coin is the native cryptocurrency of the Toncoin blockchain network and is used for various activities such as transactions, payments, and smart contracts within the network. It is required to pay transaction fees on the network, perform fund transfers, and make payments with other users.

What does TON Coin do?

Transaction Fees: TON Coin is used to cover transaction fees that must be paid when performing transactions on the network. TON Coin may be required to pay for any transaction or smart contract operation.

Payments: Users can use TON Coin to transfer money to other users and to conduct trading transactions. TON Coin can be used for fast and low-cost payments.

Smart Contracts: TON Coin is used to fund the execution of smart contracts on the TON network. Smart contracts are software contracts that can automatically execute programmed transactions and are subject to coded rules.

Network Security (Staking): TON Coin can be used to secure the network. Users can contribute to the security of the network by staking (blocking) their TON Coins.This makes the network more secure and resilient.

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