Because taking cryptocurrencies mainstream in 2018 would not be possible using the existing blockchain platforms, 4 Telegram co-founder Dr. Nikolai Durov set out to find a novel solution to meet the speed and scalability required for mass adoption.
His research resulted in the design for the Telegram Open Network — a fast and secure blockchain and network project.
At the core of the platform is the TON Blockchain — a scalable and flexible blockchain architecture that consists of a master chain and up to 292 accompanying blockchains.
Below are some notable design choices that allow the TON Blockchain to process millions of transactions per second.
As a multi-blockchain project, TON requires sophisticated network protocols — such as the TON P2P Network used to access the TON blockchains6 — that can be reused to give a significant boost in flexibility to the platform.
The following components are scheduled to be released after the TON Blockchain core and will further increase the potential uses of the TON infrastructure.
In addition to payments for all digital and physical assets sold by individual
merchants within the Telegram ecosystem and on other projects integrated with
TON, the TON coins (Grams) will be used as:
› Commission («gas») paid to TON nodes («validators») for processing transactions and smart contracts;
› Stakes deposited by validators to be eligible to validate transactions and generate new blocks and coins;
› Capital lent out to validators in exchange for a share of their reward;
› Voting power required to support or oppose changes in the parameters of the protocol;
› Payment for services provided by apps built on the platform (TON Services);
› Payment for storing data securely in a decentralized way (TON Storage);
› Payment for registering blockchain-based domain names (TON DNS) and hosting TON-sites (TON WWW);
› Payment for hiding identity and IP addresses (TON Proxy);
› Payment for bypassing censorship imposed by local ISPs (TON Proxy).
All of these services can be free for the users since the application owners may choose to cover the
corresponding fees, and adopt a freemium or an advertisement-based business model.
To be announced
The Telegram ICO is online available in English for now.
Telegram’s (TON) Pre-Sale has already ended. $850.000.000 has been funded by 81 selected investors. The other $150.000.000 remains for the ICO.
Bitcoin has established itself as the «digital gold», and Ethereum has proved to be an efficient
platform for token crowd sales. However, there is no current standard cryptocurrency used for the
regular exchange of value in the daily lives of ordinary people. The blockchain ecosystem needs
a decentralized counterpart to everyday money — a truly mass-market cryptocurrency.
Despite their revolutionary potential, existing cryptocurrencies lack the qualities required to attract
the mass consumer.