Every blockchain is trying to bridge the gap between the technology’s limitations and its ability to handle real-world scale – The Open Network is at the forefront of this innovation. 

TON is a layer-1 decentralised blockchain platform designed to offer a scalable and efficient blockchain that is capable of handling millions of users. Initially developed by the Telegram team, TON aims to revolutionise the way we interact with the internet by providing a user-friendly and secure environment.

What is TON?

TON, short for The Open Network, is a blockchain-based decentralised computer network known as the ‘blockchain of blockchains’. 

Initially launched by Telegram in 2018, TON aims to create a robust and scalable blockchain platform that has the capability to serve millions of users. Despite facing legal challenges forcing Telegram founders to step away, TON has since been rebranded and continued its development under the TON Foundation.

TON operates as a Layer 1 blockchain, similar to Solana and Ethereum, utilising a proof-of-stake (PoS) consensus mechanism. The TON blockchain serves as a "super server," capable of handling millions of transactions per second and sets the stage for a fast and secure decentralised internet. 

The platform is powered by Toncoin (TON), its native cryptocurrency, which is used for transactions, staking, and governance within the ecosystem, while validators secure the network and validate transactions by staking TON.

How Does TON Work?

TON operates through a combination of unique architectural elements and consensus mechanisms to provide fast, scalable, and secure transaction processing.

Architecture

TON's architecture consists of multiple layers, including the masterchain, workchains, and shardchains. 

• Masterchain acts as the central coordinator of everything. It is the primary chain that stores the network configuration and the final state of all workchains. 
• Workchains are customised blockchains that are tailored to certain transactions or use cases. Think of these as independent blockchains built to support specific smart contracts and decentralised applications (DApps). 
• Shardchains are sub-chains of workchains and enhance scalability by processing transactions in parallel.

TON Virtual Machine (TVM)

The TON Virtual Machine (TVM) executes smart contracts on the network, ensuring consistent and secure contract execution across all nodes.

Consensus Mechanism

TON uses a Byzantine Fault Tolerant (BFT) consensus mechanism called Block-Proof of Stake (BPoS). Validators holding and staking TON participate in block validation and consensus. The BPoS consensus ensures that a supermajority of honest validators is required for block.

Sharding

This is when each Workchain divides into multiple Shardchains allowing TON to achieve parallel processing of transactions across multiple shardchains. This significantly increases the network's throughput and scalability.

Smart Contracts and DApps

TON supports smart contracts and DApps, enabling developers to build various decentralised applications, including DeFi, gaming, and social media on the platform.

Interoperability and Cross-Chain Communication

TON facilitates seamless asset transfers and transaction execution across different workchains and shardchains, promoting collaboration between DApps and enhancing the overall ecosystem.

What Makes TON Unique?

The Open Network (TON) sets itself apart with several innovative features that enhance its scalability, efficiency, and security:

Mini-Blockchains

TON's smart contracts function as independent mini-blockchains, unlike traditional systems where contracts are interlinked. This "Blockchain of Blockchains" design allows each contract to operate independently, reducing complexity and improving scalability.

Asynchronous Communication and Transactions

In traditional blockchain systems, the typical transaction call process is atomic, meaning the successful execution of all steps involved in a transaction is required. Any failure at any stage results in the entire transaction failing. It’s like trying to buy groceries; if you can’t afford all your items, you don’t get to take any home.

TON employs asynchronous communication between smart contracts by breaking down processes into microservices that can operate on different servers. This allows them to operate independently without holding up the entire network. This reduces bottlenecks and enhances network efficiency.

Flexibility in Smart Contracts

In the fundamental concept of blockchain, all data stored is inherently immutable, as exemplified by platforms like Ethereum, where immutability is a cornerstone feature that enables a wide range of services, including logistics tracking and legal document storage and processing.

Unlike most blockchains where smart contracts are immutable, TON allows developers to modify smart contract code post-deployment, offering greater flexibility and adaptability.

TON Services

TON Storage

TON Storage offers a decentralised storage solution similar to Dropbox, with added encryption using the user's private key.

TON Sites

TON Sites enable users to launch decentralised websites on the TON network and can be accessed through a TON crypto wallet and web browser.

TON WWW

TON WWW refers to the collection of web pages and services accessible via the TON network. TON WWW utilises TON Proxy and TON Sites to create a decentralised and secure browsing experience.

TON DNS

TON DNS is a service designed to make crypto wallets, accounts, smart contracts, and other services more user-friendly. TON DNS simplifies addressing and accessibility of various resources on the TON network.

Ton Bridge

Ton Bridge facilitates the conversion of TON coins between different blockchain networks.

What Gives The TON Token Value?

Toncoin (TON) is the native cryptocurrency of the TON network, deriving its value from several functionalities:

Mining Rewards

Validators are rewarded with newly minted TON for securing the network and maintaining its integrity.

Currency and Transactions

TON is used for all transactions within the TON ecosystem, including storage, retrieval, and staking.

Governance

TON holders can participate in governance, voting on proposals that shape the future of the network.

Growing Ecosystem

With the growing number of users and developers on TON, the demand for Toncoin is expected to increase, driving its value up.

Where can I buy Toncoin (TON)?

At Altify, you can seamlessly buy, sell, and trade TON for fiat currencies or other cryptocurrencies.