TON on Telegram: Relationships and Growth
While TON originally appeared as a part of the far-reaching blockchain project by Telegram, it has grown into an independent platform. Independence does not mean that TON lost its connections with the popular messaging service it shared a base and infrastructure with and, most importantly, a huge user.
TON is a special chance for developers to play, experiment, and innovate on the blockchain, driven by 900 million Telegram users from all over the world. This close relationship grants TON the unique capability to seamlessly integrate Web3 technologies into the lives of everyday users through a familiar and user-friendly interface.
TON indeed did reduce the complexity of the user’s interaction with blockchain applications by leveraging Telegram’s already existing platform. First, there are those Telegram mini-apps that seem to integrate right into the messaging application. These mini-apps provide users with an easy way to various blockchain services-for example, tap-to-earn games that gained popularity in the shortest time for their simplicity and entertainment.
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In February, Telegram introduced an ad-revenue-sharing model in which it pays channel owners in Toncoin, the native cryptocurrency of the TON blockchain, alone. In the program, all public-channel owners can join in with more than 1,000 subscribers and get 50% of ad revenues shown on channels.
With over 1 trillion views hosted by Telegram Channels every month, this revenue-sharing system gave rise to new ways content creators could make their money. TON blockchain acts as the financial infrastructure for Telegram, enabling the seamless movement of money within the platform. Here are some notable achievements:
Speaking of what is hot for the TON blockchain, there is no doubt about the popularity of mini-app game titles on Telegram, which have somehow become a part of its brand identity with millions of users.
Lately, GameFi and meme coins on TON have drawn a lot of attention. In the season of TON in May 2024, the quantity of deployed contracts reached the incredible figure of 11.7 million, a good witness to how fast this blockchain is growing in popularity.
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TON is dedicated to ecological sustainability and high levels of security. The combination of a sort of PoS consensus engine with BFT keeps the network secure from malicious attacks.
Another great advantage of TON is that it is combined with the popular Telegram messenger. Such a merger allows clients to make payments directly from the application, and such ease increases the comfort level of one performing the transaction. It also leverages Telegram’s huge user base, offering smoother file-sharing capabilities, including cloud storage.
With its annual inflation rate set at just 0.6%, TON is very unique in terms of economic sustainability. The network further allows for low-cost transactions, which are further extended with its bridging functionality that makes the exchange between TON and other cryptocurrencies easier.
TON’s multi-chain structure in design enables the system to feature fast block validation and high throughput of transactions by splitting them into parallel processing across many chains. This flexibility allows developers and users to take advantage of unique features that different blockchains will provide.
TON’s multi-blockchain opens up all-new avenues with respect to dApps. The ease with which, due to the concept of multi-blockchain, developers can make innovative apps based on many blockchains. For example, Ethereum’s smart contracts, along with TON’s fast transaction speed- mean the scope of use cases increases.
Read more: Top 10 TON Ecosystem Coins by Market Cap
Toncoin is the native cryptocurrency of the TON blockchain and has a central role in the TON ecosystem.
Toncoin had a very different way of distribution in the early beginning, with no pre-defined share or even ratio. In the very beginning, 98.55% of the total supply was mined using a Proof of Work model and was available for early backers who participated in the testnet. The mining per day reached as high as 200,000 $TONs. Two years later, the project changed its distribution model into Proof of Stake.
Most of the distribution of Toncoin to the community happened in the form of rewards for staking. The mining of the last TON coin using the PoW system was finished by February 28, 2022.
After that, the project fully switched to the PoS model. Nowadays, Toncoin works with an approximate annual inflation rate of 0.6%, providing a stable supply for all its stakeholders.
Toncoin is a vital part of the functioning and expansion of The Open Network and provides multiple applications in its ecosystem:
Currently, investors can buy Toncoin at:
Toincoin is a token with ERC-20 and BEP-20 standards, so investors can store it on wallets such as Metamask and Trust Wallet,… or wallets of the TON ecosystem such as TON Wallet, Tonkeeper, and Tonhub. In addition, you can also store Toincoin on wallets of centralized exchanges where Toincoin is listed.
Read more: Overview of TON Ecosystem: Targeting Web3 Users with Huge Potential
Telegram officially declared the TON blockchain as its Web3 structure of choice in the year 2023, after which interest and trade in Toncoin just blew up.
The messaging app also involved more crypto community engagement with the integration of the TON ecosystem after the release of the Telegram Wallet. Users can purchase $TON with credit cards directly. The new feature enables users to buy a number of digital goods, including anonymous accounts using Toncoin, and conduct advertisements within the app.
The Open Network team rolled out a number of funding and incentivization initiatives to lure decentralized application developers further ahead in spurring demand for the Toncoin. This includes an announcement of funding for community rewards of 30 million $TONs in March 2024, worth around $115 million at the time of writing.
More recently, Telegram unveiled a platform for ad sales on the service that accepts only Toncoin as payment. This novel monetization system allows channels to give out the coin as an incentive for advancing the presence of the TON ecosystem on Telegram.
| TON | Ethereum | |
| Transaction Speeds | TON is very well-positioned since it boasts faster transaction speeds. | Ethereum has low transaction speeds but rarely gets congested. |
| Growth Potential | TON has very serious growth potential in the near future due to its smaller market capitalization size and rapid development. Being younger, this blockchain may be positioned for more significant expansion. | Ethereum currently has a slow but steady growth rate. |
| Smart Contract Interaction | dApps on TON are just starting to develop and are not yet diverse. | Ethereum introduced the concept of smart contracts and allowed for much deeper dApps. |
| User Base and Developer Community | TON has a Telegram-based user base and is growing. | Ethereum has a sizeable and active user base plus an extensive network of developers. |
| Risk Considerations | TON is a new blockchain so there is a high level of risk. | Ethereum is proven to be more secure and less risky than TON. |
Currently, TON blockchain has been developing the following products to expand its network:
In addition, the following projects are also on the project roadmap:
Because the TON ecosystem is rapidly growing into an epicentre of innovation and user activity, it would be really close to Telegram’s extensive user base on Web 2.0. The project will bridge the gap between Web 2.0 and Web3 positions with a clear vision to let users have seamless entrance into the world of blockchain.
Despite all the setbacks, TON remained true to the initial mission of the founding document as envisioned by Telegram’s founders. With the integrations of Telegram Wallet and Telegram Mini Apps have positioned these tools as essential parts of making Telegram a “Super App,” which has taken the project back to its original goals.
Although there were very early question marks over the legality of the project, TON is now set not only to make a strong mark in the Web3 space but also to pose some serious questions for many of the major social media platforms in the Web 2.0 environment. As it continues to develop and move forward, its roadmap proposes a seriously ambitious future with an IPO pencilled in for 2026.
The TON blockchain was created to overcome a number of the drawbacks of current blockchain networks, including usability, speed, and scalability. If the blockchain continues to receive support from the popular messaging app with a 900 million user base, TON on Telegram may continue to gain more and more acceptance from the community.
TON faster. TON achieved a record of 104,715 tps during a live test. Ethereum struggles with a relatively slow block time of around between 15 and 45 tps.
Yes. You can buy $TON on Telgram integrated wallets like @Wallet, MyTonWallet, Tonkeeper.
At the time of writing there are over 1300 dApps running on TON.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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