TON (The Open Network) is a blockchain project started by Telegram, known for its focus on speed and scalability. It uses Proof-of-Stake (PoS), meaning it consumes less energy than older blockchain models.
Description
Here’s how it works:
- Sharding Technology: TON’s blockchain splits into smaller parts (shards), to process transactions at the same time. This makes TON faster than many other blockchains, with the potential to manage millions of transactions per second. It addresses the common problem of blockchain scaling.
- TON Virtual Machine (TVM): The TVM enables smart contracts on TON to run smoothly. Smart contracts are programs that automate transactions or tasks. TVM makes them more efficient and adaptable, boosting TON's flexibility in decentralized applications (dApps).
- TON Coin: TON’s native currency, TON Coin, powers the network. Users pay transaction fees, participate in staking, and vote on governance with the TON Coin. This setup gives TON Coin holders a say in project decisions.
In summary, TON is a scalable, PoS blockchain project focused on speed, efficiency, and decentralized apps. For details about Toncoin such as blockchain analytics and wallet data, visit tonstat.