What Is TON Coin？
TON is a fully decentralized layer-1 blockchain designed by Telegram to onboard billions of users. It boasts ultra-fast transactions, tiny fees, easy-to-use apps, and is environmentally friendly. TON is scalable and shardable. Its flexible architecture lets it grow and grow, with no loss of performance.
TON coin (TON) is a cryptocurrency and operates on the Ethereum platform. TON coin is used for transaction fees, securing the blockchain through staking, deciding how the network develops, and settling payments. TON coin has a current supply of 5,047,558,527.7. As the TON ecosystem expands, Toncoin’s impact on the new economy and Web3 will become more prominent. TON coin uses a Proof of Stake consensus algorithm. The current annual rate of inflation derived from the fundamental parameters of TON coin is 0.6%. This inflation represents a payment made by all members of the community to the validators to keep the system functional.
TON coin’s price have retreated from the January peak, while the TON coin value is more than six times as much as its launch price of $0.4324 on 26 August 2021. Apart from processing millions of transactions per second, TON blockchain-based ecosystem has all the chances to give rise to a genuine Web3.0 Internet with decentralized storage, anonymous network, DNS, instant payments and various decentralized services. As the ecosystem expands, there is a huge potential of TON coin and numerous ways for it to work in the new economy. TON coin is expected to go beyond a means of payment.
The History Of TON Coin
November 2019: Telegram Open Network testnet2 is launched. 5b coins are minted, with a small fraction (1.45%) distributed to developers and testers.
May 2020: After the SEC prohibited Telegram from issuing Grams to investors, Telegram ceased its work on the TON ecosystem. testnet2 tokens are placed into 20 Proof of Work Giver smart contracts.
May 2021: By majority vote of network participants, testnet2 was promoted to mainnet. Coins continue to be distributed by Proof of Work Giver contracts.
Use Cases For TON Coin
lCommission payment for processing on-chain transactions with smart contracts.
lPayment for services provided by apps built on the platform.
lTON coin is integral to TON's on-chain governance program.
lPayment for creating new workchains and extra currencies.
lValidators’ stakes required to maintain the blockchain.
lCapital lent out to nominators in exchange for a share of their rewards.
lCross-chain transaction fees.
lPayment for blockchain-based domain names (DNS).
lPayment for TON Proxy.
lPayment for decentralized data storage.
How To Buy TON Coin?
To trade TON coin, you need a reliable exchange such as Binance, Bitfinex, Coinbase and FTX.