What are the special features of TON, both as a blockchain and cryptocurrency?

Blockchain is a decentralized digital ledger that has many improvements over traditional databases. In recent years, plenty of blockchains have been created to overcome the shortcomings of the previous ones, and in this regard, Toncoin (TON) has become an important player in both the blockchain and crypto space. The blockchain on which TON operates is also known as The Open Network, and it was created to integrate innovations in the blockchain realm. Originally, Toncoin was developed by Telegram, but after dealing with some challenges, it migrated to the TON Foundation.

The native token of this blockchain is Toncoin (TON), which can be used for operations occurring on the platform or for transactions. TON coin price prediction shows that this cryptocurrency will most likely increase in the future, driven by all the innovations of its blockchain.

But what exactly distinguishes this blockchain and cryptocurrency from the expansive variety of other digital assets? Let’s discover together.

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What exactly is TON?

TON, or The Open Network, is a decentralized platform that supports financial applications. At first, The Open Network was developed by Telegram, but because of what happened with this app, it needed to change to something else. The white paper for this project was released in 2018, but because of U.S. regulations, the project failed to go live. However, as the general idea was presented to the public, people began to consider this digital coin more intensely.

In May 2020, a new face of the Toncoin project went live, which pivoted Toncoin’s position in the crypto sphere. Since then, Toncoin has become an important blockchain and cryptocurrency that many investors and developers worldwide support.

What are the unique features of TON, as a cryptocurrency?

Toncoin is the native tone of The Open Network, which can be used for staking, making transactions, or utilizing all the applications on its blockchain. Toncoin has a maximum of 5 billion digital coins, and after investing in this crypto, participants can use it for transactions, as a store of value, for staking, or to pay the network’s transaction fees.

What are the unique features of TON, the ecosystem?

TON can be seen as an essential and big ecosystem growing rapidly because of all the innovations it has integrated into the network. TON can support many use cases, such as offering financial services or being used for applications and gaming. In addition, TON has also integrated smart contracts, which allows developers to utilize advanced decentralized applications.

One of the best innovations of the TON ecosystem is the fact that it uses an innovative technology known as “multi-level sharding.” Because of this factor, the blockchain is split into shards, which are smaller pieces, so that the network can support high throughput. This way, TON can process any number of transactions without impacting security or speed. Other than using the Proof-of-Stake (PoS) consensus mechanism, TON also has a Byzantine Fault Tolerance (BFT) model, and thanks to it, the network becomes even more secure to online attacks.

TON also has some amazing technical features, such as scalability, so its native cryptocurrency can handle numerous transactions per second. Another important characteristic of this blockchain is its great interoperability, so the platform can interact with other networks.

What are the other unique services and facilities of TON?

TON Storage

The main difference between regular databases and blockchains is how they store their data. If traditional platforms have more control from a particular authority, things are different with blockchains, which brings decentralization to the world. This is why blockchain can represent a great means to store data, which is also the idea behind TON Storage. TON has great plans with TON Storage, as it wants to develop a data approach system that users can access regardless of location. TON Storage intends to adopt all these innovations thanks to torrents, a peer-to-peer technology used to share files. With it, users can upload multimedia and data to the blockchain, and individuals can identify them with the help of unique codes.

TON DNS

TON DNS stands for Domain Name Services, which allows users to turn the automated wallet address containing alphanumeric characters into a readable word that the user chooses. In this way, all the funds can be sent using these TON DNS, which can simplify many processes.

TON Sites and Proxy

Other innovations of this blockchain are TON Sites and Proxy. TON Sites encourage users to make their web servers available on the TON network. TON Sites have automatic privacy and security, which are offered by authenticity verification and encryption. TON Proxy is also a notable innovation that has encouraged a better connection between various developers and the TON blockchain. With it, developers can discover some of the available data from the network.

Wrapping up

Toncoin emerged as an essential player in the crypto realm because it added some features that weren’t present until then. Toncoin is the native token of The Open Network (TON), which was created to provide a secure, fast, and scalable network that can process millions of transactions per second. Now, Toncoin is used for many use cases, such as making transactions or other various applications. The TON ecosystem has the potential to increase significantly in the future and bring even more innovation into the game. Toncoin has a lot of advantages for the world, such as good scalability, fast speed, low costs, and improved safety.

This is why Toncoin can be a great addition to diversify a portfolio. However, because it is a cryptocurrency, it has the same popular disadvantages as the other crypto options, where price fluctuations are the most notable ones. This is why it is imperative to research this space before investing, to ensure you are able to stand all the changes that might appear.