What is Toncoin Crypto (TON)? Info, Chart and Live Price
Price and data about the Toncoin from the Ton Foundation.
Chris.P
Toncoin is TON's native cryptocurrency. It is used for network operations, transactions, games, or collectibles built on TON.
The current market capitalization of the TonCoin is at $7.45 Billion.
With a circulating supply of 3,431,892,088 TON and a total supply of 5,094,686,224 TON.
All-time high price of $5.84 on November 12th, 2021 (source: Coinmarketcap)
Live price of Toncoin token
What is Toncoin token?
Toncoin (TON) is a decentralised blockchain created by Telegram's encrypted messaging platform in 2018. Originally named "Telegram Open Network," the project transitioned to the TON Foundation and became "The Open Network."
Since 2020, a dedicated and non-commercial group of supporters, known as the TON Foundation, along with an independent community of enthusiasts, have been driving the development of this technology. Toncoin, formerly referred to as Gram, serves as the native cryptocurrency of the TON network.
The original vision was to integrate TON into a user-friendly application for buying, sending, and storing funds. Clients settle payments and validate transactions using TON while paying transaction fees. Toncoin utilizes the proof-of-stake (PoS) consensus model to ensure network scalability and reliability.
As stated on the project website, the platform aims to deliver fast, transparent, and secure payment services with minimal fees and support for third-party applications. The developers envision building a comprehensive ecosystem that includes decentralised storage, services, a domain name system (DNS equivalent), an anonymous network, and an instant payment platform with affordable and rapid transaction processing.
The Open Network distinguishes itself as a community-driven blockchain with a flexible architecture focused on meeting the needs of everyday users. Notably, TON's transaction processing and validation can achieve impressive speeds, reaching a world record of 55,000 transactions per second (TPS) during a recent contest. The current TPS capability could potentially be in the hundreds of thousands or even millions, allowing for rapid growth without compromising performance. Additionally, the project maintains an environmentally friendly approach.
Use cases for Toncoin
- Processing fee for transactions smart contracts.
- Payment services are provided by apps built on the platform.
- Contributing to network security via staking.
- Cross-chain transaction fees.
- Toncoin is integral TON's on-chain governance program.
- Payment for blockchain-based domain names (DNS).
- Validators’ stakes required to maintain the blockchain.
- Payment for data storage decentralized.
Where to buy Toncoin token?
The Toncoin can be purchased and traded on a number of exchanges, including Bitfinex, KuCoin, and Pancakeswap, you can also buy it directly from Ton website.
