Privacy-Focused Tonnel Network Launches on TON Blockchain, Invites Community to Participate in 100,000 TONNEL Airdrop

 Key takeaways:

• TONNEL Network has launched on the TON blockchain mainnet to provide on-chain privacy through Zero-Knowledge proofs. This leverages TON Virtual Machine updates for secure computations. 
• Key features include private transfers of $TON and $TONNEL tokens and a ZkNFT standard for confidential NFT activities.
• TONNEL is distributing 100,000 $TONNEL tokens via an airdrop campaign to drive the adoption and growth of the privacy protocol.
• Our price prediction algorithm forecasts the Toncoin (TON) price to increase by 4.23% and reach $2.50 next month.

TON Blockchain has welcomed a new privacy protocol called TONNEL Network on its mainnet, with the aim of providing on-chain privacy for users through Zero-Knowledge proof technology.

? @tonnel_network has launched on TON Mainnet, introducing a Zero-Knowledge privacy protocol to enhance on-chain privacy for #TON users.

Join the celebration with TONNEL’s Mainnet airdrop campaign and get a chance to win 100K $TONNEL. Details: https://t.co/EE6UwEqGrx pic.twitter.com/ftttzpTRPG

— TON ? (@ton_blockchain) January 15, 2024

TONNEL Network utilizes the latest TON Virtual Machine (TVM) update that enables complex computations and proof verification on smart contracts. This allows TONNEL to implement the Zero-Knowledge proofs that validate transactions without exposing sensitive information.

Key features of the TONNEL Network include:

• Private transactions for Toncoin ($TON) and $TONNEL tokens. More jettons will be supported in the future.
• A ZkNFT standard for confidential NFT minting, ownership transfer, and burning. TONNEL has already deployed the first private NFT collection on TON using this technology.

To celebrate its launch on the TON Mainnet, TONNEL Network is inviting the community to join its airdrop campaign, where it will distribute 100,000 $TONNEL tokens to lucky participants. Individuals can participate in this airdrop campaign by joining the TONNEL Network Telegram channel.

Read More: 8 Best Airdrop Sites for Free Crypto Airdrops

TONNEL Network is one of the first to utilize zero-knowledge proofs on the high-throughput TON Blockchain. 

Moreover, Zero-Knowledge proofs enable parties to validate information without exposing the underlying data. For example, someone could prove ownership of a ZkNFT without revealing their wallet or the NFT’s metadata. TONNEL uses efficient ZK-SNARK proofs suited for blockchain transactions.

By enhancing privacy, the network could attract more users and decentralized apps to the TON ecosystem.

Toncoin (TON) recent price movement

According to the CoinCodex price chart, the price of Toncoin (TON) has fluctuated in the past month, reaching a high of $2.42 on Dec 4, 2023, and a low of $2.11 on Jan 6, 2024. 

As of today, Jan 17, 2024, the price of the token is $2.35, which is a 2.2% decline compared to its $2.45 price in the last 24 hours. It also holds a market cap of  $8.12 billion, and the market dominance is over 0.48%.

According to our forecast, the price of Toncoin is expected to continue dropping in the short term – it could lose another 3.26% and reach $2.32 by Jan 22, 2024. 

However, in the next month, the price of Toncoin is predicted to rise by 4.23% and reach $2.50 by Feb 16, 2024. The long-term prediction for Toncoin is more optimistic, as we estimate that the price of Toncoin could reach as high as $3.06 by the end of 2025.