About TON Blockchain
Launched by Telegram, TON, which stands for "The Open Network," is a blockchain project run by the community. Its goal is to make transactions fast and support a wide range of decentralised apps (dApps). In 2020, the blockchain took a big blow when Telegram gave up on it after investigations by the U.S. Securities and Exchange Commission (SEC). While the world turned away, its team of passionate developers and blockchain firms worked relentlessly to revive it. Today, the initiative is being run as a DAO in line with its original vision of mass adoption and a decentralised world. In this article, we break down the TON blockchain, highlight its recent activities and tell you what to expect. What are you waiting for? Read on! The Three-Layer Network Of Ton
TON is a network with three layers. In the first level, we have the masterchain, which runs on a powerful Proof-of-Stake (PoS) algorithm. This algorithm gives it great speed, scalability, and security. This master chain is the TON network's main chain. This means every operation that is done in TON is done on the master chain.
On the second level, we find the workchains, which are secondary chains that connect to the masterchain and can have a vast range of different connected chains. Each secondary chain can have its own consensus rules, such as separate account address and transaction formats, virtual machines for smart contracts and basic coins, etc. All of this is done while still being compatible with the masterchain and able to work with it and each other without any problems.
The shardchains are the last part of the third level. Shardchains are a part of workchains, and their job is to help them grow by splitting the work and doing it in parallel. In this way, TON's ability to grow is much greater than what we see in chains like Polkadot or Solana right now. All of this is possible because TON builds its shardchains from the bottom up. This gives rise to the Infinite Sharding Paradigm.
All of this technology is called TON, and it is one of the most important things that the project brings to the crypto world. It directly competes with projects like Ethereum, Polkadot, and Cosmos.
How so? Ethereum only supports only 64 shardchains. Solana does not support any at all. But TON supports 260 shardchains “with near-instant cross-shard and cross-chain communication, resulting in millions of transactions per second.”
Through a P2P protocol, the whole system works in a completely decentralised way. This makes it resistant to censorship and other attacks that could be made on the network.
2022 Is The Breakout Year For TON
TON is aiming for one thing - mass adoption. This project's goal is to bring together all of the other blockchains into a single, decentralised network where transactions happen quickly and cheaply.
TON is building the foundation for web3, with parts like decentralised storage, an anonymous network, DNS, instant payments, and support for different decentralised services. A lot of this groundwork has already been done. For example, TON launched The Open Network early last year, which is a stable and highly scalable multi-blockchain that can handle millions of transactions per second. TON has also finished building its crucial TON-ETH bridge, which makes it easy to move Toncoins between its blockchain and the Ethereum blockchain. As shown by the partnership with Donate, TON payments were also finally made possible in the fourth quarter of last year. This was another important step forward.
FreeTON also just released TON Swap, a decentralised exchange (DEX) that claims to be faster and cheaper than Ethereum-based DEXs like Uniswap and is working on new yield farming and non-fungible token (NFT) offerings. The FreeTON DeFi Alliance, a non-profit group set up to speed up the project's development goals, is in charge of coordinating many of the project's newer projects.
The FreeTON network lets developers build apps using traditional computer languages like C and C++ and the Web3 language Solidity, which has become popular among Ethereum developers. Even though this project is legally and operationally separate from Telegram, FreeTON has stuck to the original project's goal of becoming a decentralised "super server" network that can be used by anyone, from regular people to public and private organisations.
The Roadmap For 2022
The roadmap for 2022 doesn't slow down, and by the end of the year, TON will have everything it needs to support web3. TON is about to launch its DNS service, which would give accounts, smart contracts, services, and network nodes on its blockchain human-readable names. This will make it as easy to browse as the world-wide web. The launch of the TON Proxy, TON DeFi, and the TON Developers Program are also crucial steps. Now that those things have happened, TON's last task will be to finish its distributed file-storage system, Ton Storage, and launch its anticipated TON Workchains. These are supposed to connect all existing blockchains into one large, decentralised network.
Getting everything set up is one thing, but getting everyone to use it will be another. But TON has everything it needs to achieve mass adoption. With this speed and technology, they will have and achieve true decentralisation, cheap but fast transactions, and an easy-to-use user interface. This is the perfect recipe for anyone to buy, sell, and transfer assets quickly and easily. The realization of the dream of financial freedom with DeFi apps is closer than we think.