The Open Network (TON)

The Open Network (TON) is a decentralized Layer 1 blockchain designed for fast, scalable decentralized applications (dApps). Originally developed by Telegram, the TON network aims to facilitate mass adoption of blockchain technology by offering seamless integrations with existing social platforms, high throughput, and low transaction costs.

TON is an open, decentralized blockchain network that seeks to provide the infrastructure necessary for the next generation of decentralized services, applications, and financial tools. With its core features of scalability, speed, and a user-friendly environment, TON integrates a unique multi-layered architecture to allow for virtually limitless scalability.

Key Features

• High throughput: TON can process millions of transactions per second (TPS), enabling fast and scalable decentralized applications.

• Low fees: TON’s unique sharding technology ensures low transaction fees, making it ideal for high-volume use cases.

• Telegram integration: TON's close connection with Telegram positions it to be widely adopted by the platform's vast user base.

Project Mission & Value Proposition

Project Mission

The Open Network’s mission is to enable widespread adoption of decentralized technologies by providing a high-performance, user-friendly blockchain infrastructure. It is designed to support next-generation decentralized applications, such as Web3, decentralized finance (DeFi), gaming, NFTs, and more, all with seamless integration into the Telegram ecosystem.

Value Proposition

TON differentiates itself by offering:

• Unmatched scalability: TON’s multi-layered architecture utilizes dynamic sharding, enabling the network to handle millions of transactions per second (TPS). Each shard is capable of operating independently while maintaining communication with the masterchain. This ensures that as user demand grows, the network can scale horizontally without congestion. TON has demonstrated scalability in stress tests, reaching over 1 million TPS across its sharded environment, making it one of the fastest Layer 1 blockchains.

• Interoperability: TON is designed for cross-chain compatibility, enabling decentralized applications (dApps) and decentralized finance (DeFi) services to interact seamlessly with multiple blockchains. As of 2024, TON supports interoperability with several major blockchain ecosystems, including Ethereum (ETH), BNB Smart Chain (BSC), Bitcoin (BTC), Polygon (POL), and Solana (SOL), with ongoing developments to extend compatibility to Avalanche (AVAX) and Fantom (FTM). These bridges facilitate asset transfers, liquidity sharing, and data exchange across multiple blockchain networks, unlocking vast opportunities for cross-chain DeFi and dApp deployment.

• Telegram integration: TON’s deep integration with Telegram, which boasts almost one billion users globally, provides unique advantages for social and financial applications. Through features like the @Wallet TON Wallet, users can conduct fast, low-cost transactions directly within the Telegram interface. This integration streamlines the user experience, making blockchain transactions as simple as sending a message. With further integration plans, such as Telegram-based NFT marketplaces and decentralized identity solutions, TON is poised to become a leading blockchain ecosystem that bridges social media and decentralized finance.

• Dynamic Sharding: TON’s sharding technology enables the network to split and merge automatically to accommodate changes in network load, ensuring that performance remains unaffected during peak usage times.

• TON Virtual Machine (TVM): TVM powers smart contracts on the network, enabling the execution of decentralized applications with optimal efficiency.

• TON Payments: A micropayment system that enables instant, off-chain transactions, secured on-chain through the final settlement.

• TON DNS: A service that assigns human-readable names to smart contracts, accounts, and dApps, making the blockchain more accessible for everyday users.

• TON Storage: A decentralized storage solution that allows dApps and services to store and exchange large amounts of data in a secure, reliable, and cost-efficient manner. In its current capacity, TON Storage supports individual file sizes of up to 4 GB per file, with the ability to split larger files into smaller fragments. These fragments are distributed across the network, ensuring high availability and redundancy.

TON Blockchain

Source: TON Docs

The Open Network is based on a novel architecture that combines several cutting-edge technologies to ensure scalability, low fees, and fast confirmation times. TON consists of a masterchain and numerous workchains.

• Masterchain: Stores the state of the entire network, including the proof of validity for all workchains.

• Workchains: Individual blockchains connected to the masterchain, which can handle different types of transactions or smart contracts. Each workchain is capable of operating with its own protocol rules, making TON highly versatile.

Core Technical Components

• TON Sharding: Automatically splits the network into multiple shards to ensure that high transaction volume does not slow down performance. This allows the network to scale as demand grows.

• TVM (TON Virtual Machine): TVM supports smart contracts written in multiple programming languages, making it highly adaptable for developers.

• TON Bridges: TON’s cross-chain solution enables assets and data to be exchanged between TON and other blockchains, enhancing interoperability.

Toncoin Use Cases

Source: Ton.org 

Toncoin (TON) is the native cryptocurrency of The Open Network and serves various utilities across the ecosystem:

• Network Fees: TON tokens are used to pay for transaction fees and data storage within the network.

• Staking: Validators stake TON tokens to secure the network, participate in consensus, and earn staking rewards.

• Governance: TON token holders participate in network governance, voting on proposals that shape the future of the network.

• In-app Payments: As the native token, TON facilitates microtransactions within the ecosystem, including payments for services, applications, and storage.

Token Sales & Distribution

History of Toncoin | Source: Ton.org 

TON has not conducted traditional public or private token sales. Instead, the token was distributed via a decentralized Proof-of-Stake (PoS) system, with early supporters earning tokens by participating as validators or through community-driven initiatives.

As of October 2024, the total supply of TON is 5.1 billion, with the circulating supply at approximately 2.5 billion. The distribution of tokens follows a decentralized model with validators, developers, and the community playing a key role in determining the token's usage.

Token Allocation

• Validators & Stakers: 50%

• Development & Ecosystem Grants: 20%

• Treasury Reserve: 20%

• Community & Airdrops: 10%

Completed Milestones

• Q2 2022: Mainnet Launch

• Q3 2022: TON DNS and TON Storage Launch

• Q4 2022: TON Proxy and TON Sites Introduced

• Q1 2023: Token Bridge, TON Connect, and Tools for Token Deployment Released

• Q2 2023: DAO & Liquidity Staking Contracts, Tokenomics Deflation Mechanism, Decentralized Encrypted Messaging, and Address Reform

• Q3 2023: TON Space, Telegram × TON Integration, Wallet Pay, and Partnership with Tencent Cloud

• Q4 2023: Scalability and Speed Showcase, TON Ledger Integration, and Gateway Conference

Current Roadmap (2024)

• Q1 2024: Expansion of TON DeFi Ecosystem, including decentralized lending and borrowing protocols

• Q2 2024: Full integration of TON Wallet with Telegram and other social platforms, Gasless Transactions, and Collator-Validator Separation

• Q3 2024: Launch of a decentralized marketplace for NFTs and digital assets on TON, ETH, BNB, and BTC Bridges

• Q4 2024: Introduction of zk-rollup technology for enhanced privacy, Voting UI for Wallets, and TON Browser Release

Upcoming Milestones (Beyond 2024)

• TON Teleport: A tool for cross-chain and cross-layer liquidity transfers.

• Stablecoin Toolkit: A framework to issue and manage stablecoins on the TON network.

• Sharding Guidelines and Tools: Implementation of sharding optimization to enhance network scalability.

• Multisig 2.0: Improved multi-signature wallet functionality for enhanced security.

• TON Smart Contract Interfaces: Streamlined interfaces for developers to integrate smart contracts more easily.

• Telegram: TON is integrated into the Telegram platform, enabling seamless user experiences for social and financial transactions.

• LayerZero: TON uses LayerZero’s cross-chain protocol to enhance the network’s interoperability with other blockchains.

• DWF Labs: Collaborates with TON on liquidity solutions and network growth.

• Orbs Network: TON partnered with Orbs to offer Layer 3 infrastructure solutions, focusing on the development of dApps and decentralized identity.

Other strategic supporters of the TON network include HashKey Group, Blockchain.com, Animoca Brands, Pantera Capital, GSR, Tether, and Fireblocks. 

TON Ecosystem 

TON boasts a rapidly expanding community, largely fueled by its integration with Telegram, which has nearly 1 billion users globally. The TON ecosystem encourages community participation through open governance and incentivizes validators and developers to grow the network. As of October 2024, the TON ecosystem includes over 1,300 dApps across gaming, DeF, NFTs, and SocialFi sectors. 

• Validators: TON has over 350 validators across 28 countries securing the network, supporting decentralized governance.

• Developers: A growing number of developers are building on TON (around 250 as of July 2024), particularly within the DeFi, gaming, and NFT sectors.

• Wallets: 22.4 million on-chain activated wallets as of October 2024

• Total value locked (TVL): $395 million as of October 2024 (Source: DefiLlama)

Community

• X

• Telegram

• YouTube

Appendix

• Official Website

• Developer Documentation

• Explorer

• A Deep Dive Into The Open Network (TON) and Toncoin

• Top dApps in The Open Network (TON) Ecosystem

• Top Meme Coins in The Open Network (TON) Ecosystem