The Open Network(TON) is a decentralized L1 blockchain developed in 2018 by Telegram platforms. Then due to the bad guys at the SEC it was frozen, handed over to enthusiasts. After all these events, a certain number of “variations” of TON appeared, but the most popular was the variation from the TON Foundation. This company is probably related to the guys from Telegram and Pavel Durov (founder of Telegram and the TON platform).
In this article I want to tell you why I think TON is one of the most promising blockchains at the moment. And also consider its negative sides.
Why is it cool?
Let us consider the reasons why it is indeed worthy of attention:
1. Speed of development. The project’s Telegram channel publishes news almost daily: collaborations, listings, events, etc. I believe that TON is developing faster than its competitors and this gives it a huge advantage.
2. The fastest blockchain in the world. On October 31, 2023, the TON blockchain set a world speed record, reaching 104,715 transactions per second. In total, the network processed 107,652,545 transactions in 25 minutes.
3. Reliability. The TON blockchain has not had a single failure in its history, which can speak for its reliability (which cannot be said about Solana).
4. Large ecosystem. The TON ecosystem consists of DApps that extend the functionality of the blockchain. In addition to decentralized applications, the ecosystem includes such services as anonymous eSIM, domains, purchase of anonymous numbers, usernames for Telegram, TON Suites, TON Proxy, TON WWW, and TON Storage.
5. Grants. For creating a quality product based on the TON blockchain, you can receive a grant for the development of the respective product.
6. Integration with Telegram. Not so long ago TON was integrated with the messenger Telegram, which will attract new users and make the blockchain more popular among the general public.
Negative aspects.
- Unknown team members. This is probably just the face of the company, and everything is managed by the Telegram team and Pavel Durov (this is my version, it does not pretend to be true).
- Problems with decentralization. 92% of all TVL is owned by the decentralized exchange Megaton Finance.
“According to our calculations, TON Foundation-affiliated addresses control at least 85.8% of the [coin] supply,” the researchers emphasized.”
Is it worth investing in TON?
I believe that despite the unpleasant disadvantages that may discourage the project, TON is a fairly promising project(NOT AN INDIVIDUAL INVESTMENT ADVICE. DO YOUR OWN ANALYSIS!).
Thank you for reading my article. I would be grateful for any support.
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