The Open Network (TON) is a decentralized blockchain platform initially developed by the Durov brothers, Pavel and Nikolai, founders of Telegram. Originally named Telegram Open Network, the project aimed to integrate cryptocurrency and blockchain functionalities into the Telegram ecosystem. After facing regulatory challenges, the project was rebranded and relaunched as The Open Network in May 2021 under the management of the TON Foundation.
Development History
- 2018: Telegram releases a whitepaper introducing the Telegram Open Network (TON) and its native cryptocurrency, Gram.
- November 2019: Telegram launches Testnet2 of the Telegram Open Network, allowing developers to experiment with the blockchain.
- May 2020: The U.S. Securities and Exchange Commission (SEC) prohibits Telegram from issuing the Gram cryptocurrency to investors, leading to legal setbacks.
- May 2021: Testnet2 is promoted to mainnet, marking the official launch of the blockchain under the name The Open Network (TON). The project is handed over to the TON Foundation, transitioning to a fully decentralized governance model.
- June 2022: The number of validators and the total amount of tokens involved in validation increases, further decentralizing the network.
Technical Architecture
TON employs a unique multi-blockchain architecture consisting of a masterchain and multiple workchains. The masterchain manages the overall network, including protocol changes and validator elections, while workchains operate independently, processing their own transactions. This structure enables TON to achieve high scalability, theoretically handling millions of transactions per second.
The network utilizes a Proof-of-Stake (PoS) consensus mechanism, where validators stake TON tokens to secure and validate transactions. This system ensures high-speed processing while remaining energy-efficient. The primary goal of TON is to create a decentralized, scalable, and low-cost transaction network.
Key Milestones and Developments
- July 2021: The TON community formally requests Telegram’s cooperation, leading to the acquisition of the ton.org domain and the official establishment of the TON Community.
- August 2021: The TON-Ethereum bridge is launched, improving cross-chain interoperability.
- November 2021: The first mobile wallet, Tonkeeper, is introduced, allowing users to interact seamlessly with the TON blockchain.
- December 2021: TON Bulls, the first NFT collection on the blockchain, is launched, followed by projects like TON Diamonds and TON Punks.
- July 2022: The TON network surpasses one million registered wallets, signaling significant adoption growth.
- August 2022: The TON DNS auction commences, selling over 2,184 domain names for a combined total of 2,392,002 Toncoin.
- September 2023: Telegram integrates the TON Space self-custodial wallet into its platform, making blockchain access more seamless for its 800 million active users.
- March 2024: Telegram introduces an ad revenue-sharing system for channel owners, with payments made exclusively in Toncoin, reinforcing TON’s integration into the Telegram ecosystem.
Adoption of Gaming within the Telegram Platform
The integration of gaming into the Telegram platform has significantly contributed to the widespread recognition and adoption of The Open Network (TON). A notable example is the game Hamster Kombat, which has experienced unprecedented growth since its launch. As of July 2024, Hamster Kombat has attracted over 239 million users within just 81 days, making it one of the fastest-growing digital services globally.
Prior to Hamster Kombat, Notcoin was another Telegram-based game that garnered significant attention. Notcoin’s native token, NOT, achieved a peak market capitalization of nearly $3 billion, setting a precedent for the potential success of gaming tokens within the TON ecosystem.
The success of these games has not only showcased the versatility of the TON blockchain but has also played a pivotal role in increasing its global recognition and adoption.
Price Evolution
- May 2020: Following Telegram’s withdrawal, Toncoin experiences market volatility as the project transitions to a community-driven initiative.
- July 2021: With the official establishment of the TON Community and continued development, Toncoin begins to stabilize and show signs of growth.
- September 2023: The integration of TON Space into Telegram increases demand for Toncoin, positively impacting its price.
- March 2024: The introduction of an ad revenue-sharing system boosts Toncoin’s utility and market relevance.
Conclusion
TON’s journey from its initial development by Telegram to its evolution as a community-led blockchain showcases its resilience and innovation. Despite facing regulatory setbacks, the network has achieved significant milestones, driven by its goal of creating a decentralized system capable of handling millions of transactions at low costs. With its scalable infrastructure, increasing adoption, and continued integration with Telegram, TON is poised to play a key role in the future of blockchain technology and decentralized applications.
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