Telegram's encryption layout: TON and its ecological development potential

特邀专栏作者

2022-12-18 12:06 (UTC+8)

This article is about 4315 words, reading the full article takes about 7 minutes

TON is ahead of most layer-1 blockchains. I believe that with the development of TON, it will bring us more surprises in the future.

AI Summary

Expand

TON is ahead of most layer-1 blockchains. I believe that with the development of TON, it will bring us more surprises in the future.

Original Author: Daniel Li

first level title

What is TON and its advantages

The full name of TON is The Open Network, which is a decentralized first-layer blockchain designed by Telegram for billions of users, with scalable and shardable performance. Currently, TON has 85 million network transactions, 1.4 million accounts, 240 verification nodes, and 171 K official Twitter followers. According to OKX data, TON's current network circulation market value is 2.561 billion US dollars, ranking 23rd in the entire network.

Existing blockchains lack scalability and user-friendly interfaces. Even blockchain pioneers such as Bitcoin and Ethereum have many problems of their own, such as high transaction fees, slow transaction speeds, The most important thing is that the operation of the existing blockchain network is too complicated, and it is difficult for ordinary users to learn it, which greatly reduces the usability of the blockchain. For this reason, TON was created, and it is trying to change this situation. A representative of the TON Foundation said in an interview:"TON is for millions of users, and one of our goals is to make the blockchain network as easy and fast as the applications users are used to every day."

first level title

History of TON

As early as 2017, Telegram had developed a blockchain platform called Telegram Open Network (the original TON), issued the native encrypted asset Gram, and conducted an initial token offering to specific investors the following year, raising a total of 1.7 billion US dollars.

The initial road of TON was not smooth. In 2019, the U.S. Securities and Exchange Commission (SEC) accused Telegram of issuing Grams without registering with it, which violated the U.S. Securities Act (Securities Act) and prohibited Telegram from issuing Grams globally. It is even banned from circulating the currency globally. This forced Telegram to abandon Telegram Open Network, and the two-and-a-half-year blockchain project stopped updating.

first level title

TON's ecological layout

Tokens

As the encrypted asset of TON, Toncoin aims to become the easiest-to-use payment method, enabling users to send encrypted assets to others directly in the chat room like LinePay, compared to other public chains such as SOL, AVAX, BSC or Compared with the decentralized wallet Metamask, Toncoin is undoubtedly simpler and more friendly to the people in terms of operation. Toncoin also uses Telegram's huge user base to make encrypted asset payments truly popular in society.

In addition, in terms of practical application, in addition to sending and receiving Toncoin directly in the chat room like Line Pay, Toncoin can also interact with the wallet robot of the TON Foundation to purchase, trade, and send Bitcoin, and can also use credit cards to purchase encrypted assets. According to TON Foundation statistics, more than 800,000 Telegram accounts have used this feature. In addition, in terms of mining, Toncoin adopts the same proof of work as Bitcoin, and can use computers to mine, but according to the TON Foundation, Toncoin will soon be mined, and it will use proof of equity and enter deflation .

The perfect combination of Toncoin and Telegram also enables encrypted assets to unlock more payment methods, which may become the pioneer of global encrypted payment services, and promote encrypted payments to replace traditional payments as the mainstream payment method for international transactions. The goal of the TON Foundation is to make encrypted payments as simple as possible, and to make Telegram's huge users its users and customers.

TON wallet robot

In April 2022, the TON Foundation announced that it will provide Telegram with a new wallet robot @wallet, and more than 500 million users can directly send and receive Toncoin and buy Bitcoin in Telegram. On behalf of users, users no longer need to enter lengthy wallet addresses (wallet addresses) and wait for verification in order to complete transactions. Now the TON Foundation provides an alternative that is simple, fast, convenient and free of fees. Currently supported fiat currencies for buying and selling Toncoin are US Dollar, Euro, Ukrainian Hryvnia, Belarusian Ruble and Kazakhstani Tenge.

Users do not charge any fees for purchasing encrypted assets on Telegram through the wallet robot, but for each transaction completed, the seller will be charged a commission equivalent to 0.9% of the selling price. Currently, the app can only be used to buy Toncoin and Bitcoin. However, the TON Foundation is planning to expand the types of encrypted assets that can be purchased. I believe that it will not be long before encrypted assets can be freely traded on the TON wallet.

Additionally, in order to transfer encrypted assets using peer-to-peer functionality on Telegram, users need to register with The Open Network. When transferring crypto assets to another person, the user sends the crypto assets to the recipient's Telegram for processing, not to their address. A representative of the TON Foundation highlighted this feature, saying: "The @wallet bot team is making strides in this direction, you can now buy, exchange and send Toncoins to your contacts without leaving Telegram. No need for lengthy addresses or special applications. We think projects like this are the future."

Fragment

Fragment is a non-custodial decentralized NFT trading platform that provides a place for all users to securely and anonymously purchase digital collectibles. All transactions rely on the TON blockchain originally developed by Telegram and are transacted in Toncoin (TON).

As early as August this year, the TON Foundation had already launched a domain name auction, in which Wallet.ton and Casino.ton were sold for about 260,000 and 240,000 US dollars, which also made TON realize that The commercial value of user names, website domain names, groups, and channel URLs in the social field, so Fragment was born. The first open is the NFT auction of Telegram username (username), where the username refers to the user set in Telegram A personal ID rather than a nickname. In the current social field, whether it is Twitter or Weibo, the user's personal ID may be withdrawn by the platform at any time, or registered by others because of the title. As far as users are concerned, everyone expects to have an ID that can show their personality, and users can choose to give up the current ID for a better ID account. This means that personal IDs actually have a certain degree of circulation in social media, and the emergence of Fragment has given value to this circulation. It has established a trading market for user names (personal IDs), making user names easier to communicate and flow through produced greater value.

When you plan to change your username, you can purchase your favorite username through online bidding through Fragment. If your Telegram username itself is scarce and it is your favorite name, you can also choose to keep it through Fragment converts existing usernames into NFT collections or auctions them in Fragment for profit. Fragment provides a platform for usernames to create value. In addition, according to Fragment's official information, in addition to the collection function of the user name collection obtained from the auction, other empowerments and privileges will also be launched in the future.

TON virtual phone number

Recently, TON and Fragment launched a virtual phone number starting with +888. An important use of this number is to register Telegram, and of course it can also be used to bind TON wallets and the like. This virtual number is defined as an NFT product recorded in the TON blockchain, which means that as long as users are willing to spend money, they can register for Telegram without a real mobile phone number. This can not only protect the user's privacy, but the exclusive virtual number can also be the same as the QQ number, mobile phone number, and license plate number, showing the user's personality. Some special virtual numbers are also very valuable for collection. Users can turn them into NFT ’s virtual numbers are sold for cash.

In terms of price, the current random + 888 number is 9 TON. With the launch of the virtual number, TON has also ushered in a wave of surge. Up to now, 1 TON = 2.45 USD, that is to say, you can get a random + 888 (with 8 digits number) is about RMB 155. TON spends so much time to make a virtual number, in fact, the core is to increase its popularity and community activity, because TON is mainly promoted on Telegram.

Summarize

In just one year, TON has gone through a journey that other layer blockchains take years to complete, creating a complete ecosystem with all necessary products and services, including tokens, non-fungible tokens, staking , domains, marketplaces, multi-purpose wallets, decentralized exchanges, and other DeFi services. And in terms of transaction speed and versatility, TON is ahead of most layer-1 blockchains. I believe that with the development of TON, it will bring us more surprises in the future.

Welcome to Join Odaily Official Community