Crypto:
29881
Bitcoin:
$68.732
% 0.64
BTC Dominance:
%52.7
% 0.31
Market Cap:
$2.57 T
% 0.03
Fear & Greed:
75 / 100
Bitcoin:
$ 68.732
BTC Dominance:
% 52.7
Market Cap:
$2.57 T

What’s Toncoin (TON)?

What is Toncoin (TON)? 

Toncoin (TON) is the first layer-chain solution that allows users to store value, transfer assets, and create applications in the decentralized finance (DeFi) space using blockchain technology. It uses Proof of Stake (PoS) technology to deliver these services at the lowest cost and in the fastest way possible.

Toncoin is the native currency of the Open Network (TON) blockchain network. Payments for transaction data and voting on the blockchain’s birthday are made using Toncoin.

With Toncoin (TON), users can meet their financial needs such as value storage and money transfer on the blockchain. They also participate in chain validation with PoS technology and earn rewards for contributing to the TON network.

Who is the Founder of Toncoin?

Let’s look for the answer to the question of what it is and who its founder is. The popular messaging application Telegram developed the TON project under “Telegram Open Network” and planned to launch it in 2018 under Gram. However, the SEC, the United States capital market oversight body, prevented this.

Upon these developments, Telegram CEO Pavel Durov decided to leave the project in 2020. The non-profit organization TON Foundation then took over the project from where it left off and launched Toncoin as The Open Network.

RoadMap

The answer to the question of “What is Toncoin (TON) and what will it do in the future?” is on the project’s roadmap. TON does not want to be just a blockchain project. By being included in the blockchain, Proxy works to provide payment infrastructure and storage service because it aims to be different from standard projects and to meet all the needs of people in a decentralized way.

Having already laid the foundations of the services mentioned above, Toncoin will continue to develop them in the remaining months of 2023. In terms of blockchain, it aims to release many developments since 2024, such as the creation of more advanced smart contracts, and the establishment of bridges for ETH, BNB, BTC, MATIC, and other altcoins. Thus, the answer to the question of “What is Toncoin (TON)” will become much more detailed.

You might also like: What Is Tether? How Does It Work?

How Much is the Toncoin Supply?

According to the data of June 27, 2023, 3,431,892,088 TON coins are circulating in the market, while the total supply is a little more than 5,000,000,000.

Toncoin, which is aimed to be deflationary in the future, has an annual inflation rate of 0.6% today.

How Can I Buy It?

You can buy Toncoin through centralized exchanges such as OKX, Bybit, KuCoin, and Gate. This is the easiest way to get Toncoin as you don’t pay additional transaction fees. Alternatively, if you have a Metamask wallet, you can use decentralized exchanges such as Uniswap and Pancakeswap.

You can state your questions and thoughts on the article in the comments section. Also, you can learn all the news, announcements, and analyses about TON by following our Telegram and YouTube channels.

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