One of the recent projects in the crypto world that has been in the spotlight is The Open Network (TON). This is due to the increasing activity of its ecosystem and the increasingly good performance of its token price.

 

Basically, The Open Network (TON) is a high-speed blockchain originally developed by the team behind Telegram, designed to support fast and cheap transactions, as well as large-scale decentralized applications (dApps).

 

Now, to better understand what the TON blockchain is, starting from the development team and funding, how the network works, to the Byzantine Fault Tolerance (BFT) mechanism, see the following review.

 

 

What is TON Blockchain? The Open Network (TON)

 

As explained earlier, The Open Network (TON) is a blockchain that was originally developed by the team behind the popular messaging app, Telegram. 

 

TON was designed as a multi-functional platform that supports decentralized applications (dApps) and offers fast and secure transactions, with the aim of building a decentralized ecosystem that is easily accessible to the public.

 

This project was born from Telegram’s vision to create an effective blockchain network that can reach millions of users. However, after facing various regulatory challenges, Telegram stopped direct development of TON.

 

However, a dedicated open-source community continued the project and continues to develop and maintain the TON network.

 

Built on a multi-chain architecture, TON has high scalability and optimal efficiency.

 

Technologies such as Byzantine Fault Tolerance (BFT) and Instant Hypercube Routing allow TON to process thousands of transactions per second, making it one of the fastest blockchain networks available.

 

In addition, support for smart contracts facilitates the development of dApps that cover a variety of purposes, from decentralized finance (DeFi) to gaming applications.

 

TON Development Team and Funding

 

TON was originally developed by Pavel and Nikolai Durov, the founders of Telegram. However, the project faced regulatory hurdles that led Telegram to end its involvement and return the funds to investors.

 

After Telegram withdrew, the open-source community continued the development of TON with the full support of independent developers.

 

One of the key figures in this phase was Andrew Rogozov, the former CEO of VK.com, who is now a founding member of the TON Foundation and is responsible for product and ecosystem development.

 

TON has also managed to raise significant funding, including US$24,000,000 announced through three funding rounds.

 

On April 6, 2021, the project secured US$6,000,000 from Runa Capital, followed by US$10,000,000 funding from DWF Labs on November 17, 2022, and US$8,000,000 from Mirana Ventures on March 6, 2024.

 

In addition, TON has also attracted investments from a number of well-known VCs, such as Pantera Capital, KuCoin Ventures, and Animoca Brands, although the exact amount was not disclosed.

 

How the TON Network Works

 

Below is a complete discussion of how the TON network works that is important to know.

 

Multi-Chain Architecture: Shardchain and Masterchain

 

The TON network uses a multi-chain architecture that allows multiple chains (shardchains) to run in parallel, increasing efficiency and scalability.

 

It is important to note that each shardchain handles specific transactions so that the transaction load is divided between the shards.

 

Unlike traditional blockchains that use a single chain for all transactions, TON divides the work across multiple shards, allowing for faster transaction processing and avoiding congestion when transaction volumes increase.

 

Above the shardchain there is a masterchain, which is the main chain that manages and coordinates the shardchain. The masterchain is responsible for ensuring that all shardchains run synchronously and avoid transaction conflicts.

 

With the combination of shardchain and masterchain, TON is able to achieve higher scalability compared to conventional blockchains.

 

Byzantine Fault Tolerance (BFT) Consensus Mechanism

 

TON implements the Byzantine Fault Tolerance (BFT) consensus mechanism to reach an agreement among nodes in the network. BFT is designed to maintain consensus even if some nodes are unreliable or experience disruptions.

 

With BFT, transactions in the TON network remain secure and valid even if there is uncertainty or failure of some nodes. In this mechanism, honest nodes propose new blocks which are then verified by other nodes.

 

If most nodes agree with the block, it is included in the blockchain. This process ensures that the network continues to function securely and reliably.

 

Even if some nodes fail or misbehave, the network can still reach consensus and continue its operation. The BFT mechanism provides resilience to attacks or disruptions that might threaten the security of the TON network.

 

Advanced Technology in TON: Instant Hypercube Routing

 

Instant Hypercube Routing technology is implemented to optimize data delivery in the TON network, by utilizing the shortest route between nodes.

 

This technology allows fast and efficient data transfer so that TON is able to process thousands of transactions per second, making it one of the best performing blockchains.

 

The hypercube network structure is used in this method to manage communication paths between nodes.

 

In a hypercube configuration, each node is connected to several other nodes, allowing data to pass through the shortest and most efficient route. This reduces latency and speeds up the transaction process on the network.

 

In addition, this technology allows TON to adapt quickly to network changes.

 

If a node is inactive or experiences interference, data can be redirected through other nodes in the hypercube network. This ensures that the speed and stability of the TON network are maintained even in less stable situations.

 

TON’s Capabilities in Supporting Smart Contracts and dApps Development

 

TON supports the use of smart contracts that facilitate the development of decentralized applications (dApps).

 

Smart contracts on this platform can be executed quickly and efficiently, covering a wide range of applications from decentralized finance (DeFi) to gaming.

 

Smart contract on TON are written in a special programming language designed with a focus on security and efficiency.

 

These contracts are run by the TON virtual machine, which ensures that execution runs as expected, avoiding potential errors or manipulation. This provides an opportunity for developers to create complex and secure applications.

 

In addition, smart contracts on TON can communicate with other contracts and external data through the use of oracles.

 

Oracles are services that provide real-world data to smart contracts, allowing them to make decisions based on accurate information.

 

With this feature, new possibilities for dApps can be explored in the TON ecosystem.

 

TON Integration with Telegram: Expanding Crypto Adoption

 

One of TON’s key strengths is its ability to integrate with Telegram. With over 500 million active users, Telegram provides access to a large user base to drive TON adoption.

 

The integration allows Telegram users to send and receive Toncoin directly through the app, as well as access various blockchain-based services offered on the TON network.

 

Telegram users can also take advantage of the TON wallet feature that is directly connected to their Telegram account. Through this wallet, users can easily store, send, and receive Toncoin.

 

They only need to access the wallet bot (@wallet) on Telegram to make payments, buy crypto, and conduct peer-to-peer (P2P) transactions.

 

This integration not only drives the growth of TON adoption, but also makes blockchain technology more accessible to Telegram users, without the need for additional applications or platforms.

 

Telegram serves as a simple gateway for users to explore the crypto and blockchain ecosystem more easily.

 

Web3 Services Offered by TON

 

Please note, TON offers several Web3 services, including the following:

 

1. TON’s P2P Network

 

TON is a peer-to-peer (P2P) network protocol similar to IPFS, allowing access to the TON blockchain, sending transactions, and receiving user account information.

 

TON utilizes the Distributed Hash Table (DHT) to find nodes on the network and the Abstract Datagram Network Layer (ADNL) for communication between nodes.

 

In addition, each Shardchain in TON forms an Overlay sub-network to ensure optimal communication.

 

• DHT: Used to search for Validators via keys in DHT and get their locations to send transactions
• ADNL: Acts as an abstraction layer for communication between nodes, replacing the traditional TCP/IP architecture with abstract network addresses
• Overlay: Each Shardchain has an Overlay sub-network to streamline communication between nodes using ADNL-based gossip protocol

 

2. TON DNS

 

TON DNS is a decentralized naming system similar to the Ethereum Name Service (ENS). It converts wallet addresses into readable names, which can be used as identifiers on computers.

 

Domain names can be purchased or auctioned on the Fragment site and are supported by services such as Tonkeeper, TON Web Wallet, and Tonscan. Domain owners need to pay around 0.015 TON annually for domain name rental fees.

 

3. TON Storage

 

TON Storage is a P2P file sharing and storage solution that uses file seeding technology, similar to Dropbox, to store copies of blocks and snapshots of the TON blockchain state.

 

Users can store files up to 50MB via a demo interface, with further development planned to improve the user experience and introduce the TON Torrents app and TON Storage API.

 

4. TON Proxy

 

TON Proxy is an exclusive network service that provides anonymous access to the network by hiding the IP addresses of TON nodes.

 

Users can run the ingress proxy on their devices, and in the future, the service will be available as a simple decentralized application (dApp).

 

With TON Proxy, users can access .ton sites hosted on TON Storage without requiring a fixed IP.

 

5. TON Payments

 

TON Payments is a micro-payment platform equipped with payment channels, similar to Bitcoin’s Lightning Network. The platform supports off-chain transactions and payments for TON services.

 

Telegram has integrated a bot wallet service to enable virtual currency payments with retail businesses. Users can open and close payment channels with very low network fees.

 

 

The Role of Toncoin (TON) in the TON Ecosystem

 

Toncoin (TON) is the native token of the TON network that is used for various purposes, such as paying transaction fees and participating in consensus mechanisms.

 

This token also acts as a means of payment in various applications and services in the TON ecosystem. In addition, users can stake Toncoin to support network security and earn rewards in the form of additional tokens.

 

The staking mechanism encourages active community involvement and contributes to maintaining the stability and integrity of the network.

 

Conclusion: The Future of The Open Network (TON)

 

So, that was a complete discussion about what Ton Blockchain is, starting from the definition, how it works, technology to its various services that you can read in full at the Crypto Academy at INDODAX Academy.

 

In conclusion, TON has a number of advantages that make it potentially one of the main players in the blockchain industry.

 

The multi-chain architecture that allows high scalability, support for smart contracts, and an efficient consensus mechanism make TON a fast, secure, and reliable network.

 

Close integration with Telegram, which has a user base of over 500,000,000 people, also gives TON unique access to drive mass adoption.

 

Coupled with the support of various Web3 services, such as payments, storage, and anonymous networks,

 

TON is increasingly prominent in the crypto world. With an ecosystem that continues to grow, TON is ready to become one of the leading blockchain platforms in the future.

 

FAQ

 

1. What is TON Blockchain (TON)?

The Open Network (TON) is a blockchain project originally developed by the team behind Telegram to create a decentralized ecosystem accessible to millions of people. After Telegram stopped development, the project was continued by the open-source community.

2. How does the TON network work?

TON uses a multi-chain architecture with shardchains and masterchains that increase scalability and efficiency. The Byzantine Fault Tolerance (BFT) consensus ensures the security and validity of transactions even if a node goes down.

3. What Web3 services does TON offer?

TON offers a variety of Web3 services, including TON DNS for wallet naming, TON Storage for P2P file storage, TON Proxy for anonymous access, and TON Payments for Lightning Network-like microtransactions.

4. How does TON’s integration with Telegram affect crypto adoption?

Integration with Telegram allows users to send, receive, and store Toncoin directly within the app, making access to blockchain services easier for over 500,000,000 Telegram users.

5. What is the function of Toncoin (TON) in the TON ecosystem?

Toncoin serves as a means of payment, participation in consensus mechanisms, and staking on the TON network, contributing to the security and stability of the network.