This world has always been exciting for users and investors, because we have seen the release of functional and unique cryptocurrencies over time, which have revolutionized the industry. For example, TON digital currency, represented by the symbol TON, is one of the most popular projects in the world, which stands for The Open Network. In the rest of this article, we will discuss the use and future of Toon Coin.
What is TON COIN?
Ton Coin with the abbreviation TON is the native digital currency of the TON blockchain network. This cryptocurrency was launched on October 27, 2021 at a price of $0.51.
Tone Coin is not an ordinary digital currency because this digital currency has many uses and has been able to attract the attention of users very quickly. TonCoin digital currency is used to pay transaction fees, manage the Ton blockchain, vote in the governance program, provide credit awards to users of this network, staking and pay for goods and services.
The purpose of your coin
TON COIN was originally designed as a transaction-focused digital currency. This cryptocurrency has made significant progress since its inception and now it is considered a complete ecosystem to meet the needs of users. This cryptocurrency pursues great goals, that's why it is very popular. In general, the main goals of Toon Coin are:
1- Simplifying the process of digital currency transactions
Easing the process of transactions is known as the main goal of TonCoin. This network compares itself with the giants of this industry such as Bitcoin and Ethereum. TonCoin is superior to most cryptocurrencies in terms of speed and fees and is an ideal option for direct transactions.
2 - Increasing scalability
Toncoin is a powerful and complete ecosystem that uses various technologies such as sharding.
Taking advantage of these features allows your platform to process and confirm thousands of transactions in a few seconds. In fact, by increasing scalability, TonCoin allows users to perform their transactions without restrictions.
3- Creation and development of decentralized programs
As you know, your blockchain network supports smart contracts and allows users to create and develop their own decentralized applications.
What is TON Network?
TON is a unique blockchain network that allows users to perform transactions with high speed and low cost. This blockchain network was launched by Telegram to meet the needs of Telegram users. In addition to benefiting from high speed and security, the Toon network has also provided users with the necessary conditions for creating decentralized applications (Dapp) and using various services. Users and developers can use the native digital currency of the TON network with the abbreviation TON to pay for services, transactions and voting within the network. This network has high flexibility and scalability and is considered a serious competitor for Ethereum.
History of Toncoin
In 2018, Telegram published a white paper for the ToonCoin network. This project was initially named Gram and was launched as a token chain for creating and developing decentralized applications.
Gram brought a lot of benefits, but it faced many problems from the beginning. This project was active until 2020, but its further development was banned by the United States Securities and Exchange Commission (SEC). This organization recognized Gram as a security and stopped issuing Gram tokens.
Pavel Dorf made a great effort to confront the stock exchange organization and announced his opposition to the issued vote. But Dorf did not win this fight and finally in May 2020 he was forced to pay 1.2% compensation to the initial investors of Gram project. Pavel Durov abandoned the project and left its development to an independent community that was responsible for the development of digital currency projects. In the end, Anthony Makosov and Kirill Emelyanenko took over the leadership of this project and changed its name to TON coin. Currently, Toon Coin is very popular and is considered one of the most attractive crypto projects.
