Telegram’s Open Network (TON) Foundation Plans Performance Testing Event
The Open Network (TON) Foundation, in collaboration with Alibaba Cloud, has announced its plans to set up 256 servers for a performance testing event on October 31, 2023. The objective of this event is to establish the TON blockchain as the world’s fastest blockchain, earning accreditation from the Guinness World Records.
TON’s Upcoming Performance Test
The TON blockchain has witnessed significant growth since 2022, with a 20-fold increase in addresses from 170,000 to 3.5 million. The network has expanded its validator nodes to 350 across 25 nations, resulting in a more decentralized network. Throughout this expansion, the blockchain has maintained a track record of no major disruptions.
The upcoming performance test is seen as a crucial step in showcasing the capabilities of the TON blockchain as a trusted infrastructure layer for the Web3 ecosystem within Telegram. Anatoly Makosov, the Core Development Lead at the TON Foundation, expressed anticipation for the event and emphasized TON’s technical superiority in terms of scalability.
MEXC Ventures Invests in TON Blockchain
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, has made a significant investment in The Open Network. This investment marks MEXC’s largest Layer-1 funding and includes a partnership with the TON Foundation. Justin Hyun, Director of Growth at the TON Foundation, highlighted their shared goal of offering global access to the decentralized Web3 ecosystem within Telegram.
The foundation is committed to delivering a user-centric experience, and MEXC’s support strengthens its ability to develop new tools and services integrating crypto with social media seamlessly. Steve Yun, President of the TON Foundation, expressed confidence in the TON ecosystem and MEXC’s mutual growth as they prepare for the next market cycle.
Partnerships Driving Blockchain Recognition and Adoption
The collaboration between the Open Network Foundation, Alibaba Cloud, and MEXC Ventures highlights the increasing recognition and adoption of blockchain technology, particularly in the Web3 space. These partnerships aim to enhance the functionality, scalability, and accessibility of the TON blockchain while promoting global adoption and innovation within the decentralized ecosystem.
Hot Take: TON Coin Reflects Marginal Decline but Shows Strong Year-to-Date Growth
Toncoin is currently trading at $2,006, experiencing a slight decline of 0.2% in the past 24 hours. However, it has shown significant growth year to date with an impressive increase of 59%. The partnership between Telegram’s Open Network Foundation and various entities demonstrates the potential for further advancements in blockchain technology.
Image source: Shutterstock; Chart source: TradingView.com
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