Toncoin (TON) is the native cryptocurrency of The Open Network, a decentralized blockchain originally developed by Telegram. Aimed at providing scalable, fast, and secure transactions, TON utilizes a Proof-of-Stake (PoS) consensus mechanism, making it energy-efficient compared to older blockchains like Bitcoin. Its infrastructure supports millions of transactions per second through sharding technology, which divides the network into smaller chains to handle high demand. Toncoin is used for various purposes within the ecosystem, including staking, governance, and paying transaction fees. While Telegram no longer directly manages the project, the open-source community has taken over its development, aiming to integrate blockchain features into mainstream applications like messaging and payments. |