Original author: Vivi
Original source: TON Explorer
Dear TON crypto enthusiasts, we have just concluded a wonderful TON Shanghai Developers Closed-Door Conference. The conference was hosted by TON Foundation and 518 Salon, and co-organized by TownSquare Labs, Kenetic, 3 WW 3 Asia, Africa and Latin America Web3 Research Institute, and Tweetfi. In this wonderful developer closed-door conference, participants conducted in-depth discussions and sharing on the cutting-edge development of the TON ecosystem and related technologies.
During the half-day meeting, many heavyweight guests from the TON ecosystem delivered speeches.
TON Ecosystem Development
Vivi from the TON Foundation gave an opening speech. Vivi pointed out that the native integration of TON and Telegram has greatly reduced the learning cost of users and the development cycle of projects. Users can use Telegram Wallet to seamlessly access applets and games in the TON ecosystem, and projects can directly reach the user group through a convenient and fast user interface. Telegram provides high-quality natural traffic for projects, and with the incentive of cryptocurrency, applications can further achieve fission among users through a viral transmission mechanism.
Vivi said that the development of TON blockchain is gradually entering the fast lane, with DAPP, game, social, and AI track projects gradually emerging. International capital such as Pantera and Animoca have also participated in TONs investment, and there are hundreds of projects and investment institutions involved in the TON ecosystem.
TON supported the native USDT stablecoin last month, and in just one month, the circulation reached 300 million US dollars; at the same time, the TVL on TON increased by 100% in one month, exceeding 300 million US dollars. At present, the daily active wallets on TON have reached 500k, and the monthly active users are close to 4M, which is an order of magnitude difference compared to other blockchain networks.
Recently, the ecosystem project Notcoin has not only been listed on various CEXs, but has also reached 35M active users in just a few months; and the ecosystem game Catizen has also reached 10M users. In the past six months, high-quality communities such as TownSquare Labs, TON xFans, and TonVerse have gradually penetrated into the TON ecosystem, bringing vitality and cohesion to the ecosystem. These achievements all demonstrate the unlimited potential of the TON Telegram ecosystem.
TownSquare Labs: Building a Uniswap-like AMM on TON
Then, Maxwell gave a speech titled Build Uniswap-like AMM on TON from scratch. Maxwell is the founder of TownSquare Labs, which focuses on the technical construction and infrastructure construction of TON. TownSquare Labs is a deep partner of the TON Foundation, providing technical solutions for the TON blockchain and developers, and participating in the construction of official technical documents and providing developer education.
Maxwell designed a DeFi protocol based on the TON contract model, the Ordrswap protocol, from first principles, and compared the differences in architecture and interaction mode with Uniswap. Uniswap uses a centralized account structure, and the asset status of all users is concentrated in several contracts, while Ordrswap adopts a completely decentralized account structure. Each user has his own independent contract to maintain the asset status, and the number of contracts grows at the order of O(3N). Uniswaps interactions are atomic, while Ordrswap requires multiple transactions to be completed asynchronously. Ordrswaps decentralized account structure also brings challenges to atomicity and composability, and the consistency processing of intermediate states becomes the focus and difficulty of development. Maxwell emphasized that in this fully asynchronous environment, the consistency and fairness of transactions need to be ensured at the protocol level in the design.
Maxwell said that in a highly asynchronous and concurrent environment like Ordrswap, traditional programming languages have limitations. He believes that TLA+ is more suitable for designing and verifying distributed systems, and can better cope with the challenges brought by concurrency and uncertainty. TLA+ is a formal language developed by Turing Award winner Leslie Lamport. It is widely used in mission-critical scenarios such as cloud services and hardware development. It can better capture and avoid complex problems such as concurrency and synchronization. Compared with languages such as FunC and Tact, TLA+ can model and reason about systems at a higher level of abstraction, which is very suitable for the design of asynchronous systems. Maxwell believes that the best practice is to write specifications in TLA+ first, and then implement specific business code. This method can effectively control the complexity brought by concurrency and ensure the correctness and consistency of the protocol. He believes that the industry should attach importance to the application of formal methods such as TLA+ in the design of cryptocurrency protocols.
TownSquare Labs has thus started an experimental development process for the TON blockchain, using TLA+ spec for formal verification in the early stages and then developing actual business code. Max said that this is a community driven from day one project, and the proposal of the project concept represents the beginning of this process. The entire process and life cycle are open and co-built by the community. People with both technical and non-technical backgrounds can participate in this Toy Dex process, and we look forward to eventually developing it into a secure, high-quality and influential DeFi protocol.
Kenetic Capital: Thoughts on TON Layer 2 Architecture
Then, Liang, co-founder of TON xFans chief researcher of Kenetic Capital, summarized the current blockchain expansion solutions, including L1 and L2. The commonly used L1 expansion solution is sharding, while the L2 solution includes state channels, side chains/subchains, and Rollups (Optimistic Rollup and ZK-Rollup). Different solutions weigh scalability, security, and decentralization.
Liang also pointed out that the L2 architecture is also applicable to TON, which can reduce gas fees, provide lower costs for project owners and users, and achieve higher throughput and performance, avoiding the possibility that a single project may slow down the entire chain. The most important thing is that the L2 solution can promote the development of the ecosystem: support seamless migration of Ethereum applications and reduce the learning curve for developers.
Liang also developed a TRC 404 protocol similar to Pandora, which will be applied to the TON Layer 2 expansion solution invested by Kenetic Capital - Atlas Protocol.
3 WW 3: Huge opportunities in Asia, Africa and Latin America X TONTG
Finally, the co-founder of 3 WW 3 Web3 Research Institute of Asia, Africa and Latin America, Zoroo.ton, said that the institute focuses on the crypto ecology research in Asia, Africa and Latin America, which has a population of 7 billion and is a huge potential crypto user market. The local Internet and smartphone penetration rates are high, but financial services are backward, which brings opportunities for cryptocurrencies to enter. Chinese people are strong in the Internet industry and can combine their advantages with the Asia, Africa and Latin America markets.
Zuo Luo also talked about the fit between the Asian, African and Latin American crypto markets and Telegram from four perspectives:
1. Telegram has a large number of users from Asian, African and Latin American countries, providing a good opportunity to aggregate Asian, African and Latin American users and import Web3;
2. Telegram will become a channel for projects to break through traditional centralized exchanges and achieve large-scale user growth and true mass adoption;
3. Telegram*Asia, Africa and Latin America provides a broad user base for Web3, overcoming the dilemma of Web3 projects lacking diversified users, and is a good platform for creating a third type of new scenarios outside of technology and finance;
4. Products in the UBI (Universal Basic Income) track provide reference for Web3 projects on Telegram. Such products have the characteristics of large traffic and long-term retention.
3 WW 3 also incubated Yescoin, which quickly accumulated nearly 10 million users on Telegram through innovative product experience and community operations, covering more than 200 countries and regions. This fully demonstrates Telegram’s huge potential in introducing Web3 to users in emerging markets in Asia, Africa and Latin America.
This conference brought together many Web3 developers, practitioners, and investors, and everyones enthusiasm far exceeded our expectations. TON has become an important gravitational field in the Web3 field that cannot be ignored. The packed venue showed the vigorous vitality that TON brings to encryption. TONs vision is no longer a simple concept, but an ecological force that is gradually becoming concrete and expanding its boundaries.
Thanks to all the participants. Let us stick to our original aspirations, hold on to this passion and consensus, and build a bright future for TON together!
