The Famous Crypto Adopted by Telegram: TON
Toncoin (TON) is a cryptocurrency that is part of the Ton project developed by Telegram, the popular instant messaging service. It was created to power the Ton blockchain network, which aims to provide a platform for decentralized services and blockchain applications. The Ton project was conceived to overcome the limitations of existing blockchain networks by implementing Proof-of-Stake (PoS) technology. Toncoin has generated interest in the cryptocurrency community due to its association with Telegram. However, it’s important to research Toncoin and the Ton project in more detail as the cryptocurrency landscape is constantly evolving.
Prices and Market Statistics
Toncoin (TON) has experienced a drop in value over the past week. The current price is USD 1.95 per TON, representing a significant reduction from its all-time high. In terms of supply, there are currently 3,431,892,087.62 TON available on the market. Toncoin’s market capitalization is USD 6.7 billion, with a trading volume of USD 15.1 million over the past 24 hours.
TON Foundation Aims to Break Guinness World Record
The TON Foundation aims to break the Guinness World Record for the world’s fastest blockchain. The public network performance test is scheduled for October 31, 2023, and will validate the speed, reliability, and scalability of the TON blockchain. The growth trajectory of the TON blockchain has been impressive, with an exponential increase in user base and validator nodes. The TON Foundation has partnered with Alibaba Cloud and other key players for this venture.
Importance of Viewing the Event as an Educational Opportunity
The TON Foundation stresses the importance of viewing the event as an educational opportunity. Anatoly Makosov, Core Development Lead of the TON Foundation, expressed anticipation for the results of the performance test. The TON Foundation has also partnered with Telegram and MEXC to bring decentralization to the masses. These partnerships highlight the commitment to facilitating global access to the decentralized Web3 ecosystem within Telegram.
The Integration of the TON Wallet on Telegram
Telegram has announced the integration of a crypto wallet called TON Space, marking its expansion in the cryptocurrency sector. The self-custodial wallet developed by the Open Network Foundation will soon be available worldwide, except in the United States due to regulatory restrictions. The integration led to a 7% increase in the price of the TON coin. This collaboration between Telegram and the TON Foundation aims to build Web3 infrastructure and solve onboarding issues for users.
Hot Take: Reviving Telegram’s Ambitions in Cryptocurrency
The integration of the TON wallet on Telegram marks a revival of Telegram’s ambitions in the cryptocurrency sector. After legal battles with the SEC, Telegram is now focused on building Web3 infrastructure on its messaging platform. The partnership with the TON Foundation allows TON blockchain-based projects priority access to Telegram Ads, increasing their visibility and potentially attracting a new audience to cryptocurrencies.
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