Toncoin (Toncoin) is the native digital currency of 'The Open Network' (TON), which was previously known as 'Telegram Open Network'. This network was originally developed by the Telegram team with the aim of creating a high-performance, scalable blockchain platform.
Development Date:
TON development began in 2018 by the Durov brothers, founders of Telegram. The project's goal was to create a blockchain system capable of processing millions of transactions per second. In 2020, the project faced legal challenges with the U.S. Securities and Exchange Commission (SEC), leading to Telegram's withdrawal from the project. After that, a group of independent developers continued to develop the network under the name 'The Open Network' (TON).
Uses of Toncoin:
Toncoin is used in a variety of operations within the TON network, including:
Transaction Fees: Transaction fees on the network are paid using Toncoin.
Staking: Users can participate in securing the network through the staking process using Toncoin.
Payments: Toncoin is used as a means of payment within applications and services built on the TON network.
Recent Developments:
In September 2023, Telegram announced the integration of Toncoin into its platform to provide Web 3.0 services to its users, enhancing the use of the currency within the Telegram ecosystem.
Current Price:
As of March 17, 2025, Toncoin is trading at a price of $3.57, with a market cap of approximately $8.64 billion.
Toncoin is considered a core part of the TON ecosystem and is used in a variety of applications and services within the network. As the network continues to develop and gain adoption, Toncoin may play a larger role in the future of financial and decentralized technology.
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