TON Ecosystem Review
- The Telegram Open Network, its native crypto, blockchain structure, and its essential decentralized components like TON Storage, Proxy, Services, DNS, Payments, and Bridge.
- TON's architecture enhances anonymity through TON Proxy and TON Services by bypassing censorship and showcasing TON's commitment to unrestricted data access.
- TON Bridge is a critical tool for interoperability, which facilitates seamless asset and data movement across different blockchains, demonstrating TON's potential for integration and collaboration within broader blockchain ecosystems.
Toncoin, also known as TON, is a cryptocurrency used on the Toncoin blockchain platform (The Open Network), which was launched as a result of the transformation of the Telegram Open Network project. Toncoin serves as the internal crypto for conducting transactions and supporting the operation of various applications and smart contracts on TON.
This crypto has its own architecture and uses the Proof-of-Stake (PoS) consensus mechanism, making it fast and scalable for various use cases.
In 2023, there is a moderate growth in large wallets with holdings up to 10k TON. Additionally, there is a sharp increase in new participants and small holders. This crypto can be exchanged on SimpleSwap.
The chart shows the increase in assets in the wallets of so-called large whales and the growth of small retail traders.
The TON (The Open Network) Blockchain is a blockchain platform created by the founders of the Telegram messenger, Nikolai and Pavel Durov. This project was conceived to address the key challenges faced by cryptocurrencies and blockchains in the modern world.
TON operates on a P2P network principle, similar to that used in the Torrent network. In this network, all participants are connected in a common peer-to-peer network, and there are no centralized servers. This means that TON bypasses censorship issues that may arise in countries with restrictions on the internet and freedom of information.
One of the key aspects of TON is the ability to create custom public proxies within the platform. These proxy servers are built by third-party developers and help users access dApps in case governments attempt to block them. Thus, TON contributes to maintaining internet freedom and access to information in a world with varying degrees of internet censorship.
Key Characteristics of TON Blockchain
- High Transaction Speed
TON ensures fast transaction execution comparable to the speed of Visa and Mastercard payment systems. This makes it competitive in the global realm of money transfers and payments.
- Protection against Fraudsters
The project has devised measures to mitigate risks from various attacks, including the 51% attack, and potential blockchain forks, ensuring the network's reliability and security.
- Compliance with Legislative Restrictions
TON takes into account potential legal restrictions that may be imposed by governments of different countries on crypto usage.
From a technological standpoint, TON employs the concept of infinite sharding, dividing the blockchain into independent parts to increase network throughput. Off-chain transactions allow for instant and feeless transfers.
TON represents a third-generation blockchain that forms the foundation for new financial services and decentralized applications. This project has brought significant innovations to the world of finance and provides new opportunities for the future of decentralized finance.
TON DHT, or Distributed Hash Table, plays a vital role in the TON ecosystem. Its task is to store and retrieve various values in a decentralized network. DHT is used in several parts of TON:
- File search in TON Storage
When searching for files through TON Storage, DHT helps determine where the "seeding" nodes are located, which can provide access to the necessary data.
- TON Proxy
For the efficient functioning of TON Proxy, intermediate nodes that route traffic need to be found. DHT aids in this process.
It's important to note that the distributed hash table DHT itself does not ensure data confidentiality since the data in it isn't encrypted. It is intended for storing publicly accessible data that doesn't require a high degree of confidentiality.
TON Storage is a decentralized file storage that places data on client devices in the TON P2P network. Devices that provide their resources for storing files participate in servicing the network and receive rewards in TON. This is analogous to a torrent network but with the ability to earn.
TON Storage ensures the anonymity and security of data storage using cryptographic encryption and proxying of IP addresses through TON Proxy (please read more about TON proxy below). This allows for avoiding censorship and blocks since there are no centralized servers that could be shut down.
In addition, TON Storage supports TON Services, a platform for creating dApps, including video streaming, file search, and recommendation systems. This expands content capabilities and creates new services for users.
TON Proxy is a tool that allows users to hide their real IP addresses when accessing resources on the TON platform. This mechanism is created by third-party developers and is based on P2P network principles, similar to those used in the Tor network.
The essence of TON Proxy is that it does not use centralized servers and IP addresses, making it less vulnerable to blocking. TON clients can interact directly with each other, providing a higher level of anonymity.
Besides, TON Proxy uses "onion routing," opening up new possibilities for creating full-fledged Darknet sites on the TON network. This mechanism provides additional ways to bypass censorship.
TON Proxy not only protects users from censorship but also provides them with additional levels of anonymity and security when using the TON platform.
TON Services form the basis for creating distributed applications in the TON ecosystem. These apps are built by third-party developers and can provide various functions and services based on the TON blockchain. Key features of TON Services include:
- TON Sites
These are analogous to classic websites but with a twist. TON Sites are distributed across client devices, making them resistant to blocking by domain names by government authorities. They contain content pages, data input forms, and hyperlinks, creating an interactive environment for users.
- Fog Services
These are app services that can’t be blocked by app stores such as Google Play and the AppStore or by government regulators. Updates for Fog Services are distributed within the TON network. An example is the Telegram messenger, which is the first service app in the TON ecosystem.
TON Services, TON Storage, and TON DNS together create a complete infrastructure that allows for the development and provision of decentralized apps and services, ensuring their availability and resilience.
TON DNS (Telegram Open Network Domain Name System) is a service designed to provide user-friendly account names, smart contracts, dApps, and network nodes in the TON ecosystem. It is similar to the traditional DNS system used on the internet and allows users to use human-readable domain names instead of long hashes or addresses.
With TON DNS, users can easily type and exchange addresses of the services and contracts they are interested in within the TON network. For example, instead of memorizing a long hash of a smart contract, a user can use a more user-friendly domain name.
TON DNS plays a crucial role in creating a convenient user experience and simplifying interaction with dApps and services in the TON ecosystem.
TON Payments is the internal payment system in the Telegram Open Network (TON) that utilizes the TON Crystal (TONCOIN) crypto as the default currency for conducting payments and transactions within the TON ecosystem.
This payment system enables the transfer of tokens between various cryptos within the TON network. TON Payments is used for the following purposes:
- Transferring funds between TON Wallets of users
- Receiving micro-payments in decentralized apps and services operating on TON
- Paying for TON Proxy (proxies), TON DNS (domain names), and TON Storage (file storage)
- Exchanging TON Crystal crypto for other cryptos and tokens within TON
TON Payments is an integral part of the TON infrastructure, providing the capability to conduct instant and secure transactions within the platform.
TON Bridge is a bridging technology that connects different blockchain networks, enabling the movement of assets and data between them. This is an important tool for ensuring compatibility and interaction between various blockchains.
To sum it up, this analysis offers a thorough understanding of TON, including its native crypto, blockchain structure, decentralized components like storage, proxy, services, DNS, payments, and interoperability through the Bridge. It illuminates TON's potential impact on dApps and financial systems, showcasing its relevance in the blockchain landscape.
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