Making progress in the Web3 arena, the Open Network (TON) blockchain is pushing for widespread adoption by utilizing its partnership with Telegram. TON was constructed with a multi-layer architecture with the goal of addressing scalability problems that have beset previous blockchain systems. Even though it has a lot of potential, operational difficulties have prevented it from being fully optimized. Recently, TON unveiled a new project to use Telegram to make Web3 technology more accessible to regular people.
The Structure and Scalability Potential of the TON Blockchain
A master chain, work chains, and shard chains make up TON’s architecture. While work chains perform different functions, the master chain maintains the global state of the network and guarantees security. Shardered chains facilitate these work chains by efficiently managing transactions, enabling the network to grow in response to demand.
The blockchain only has one work chain at the moment—the base chain—despite this architecture, which has led to congestion during times of high activity. Despite the system’s theoretical ability to handle more than 100,000 transactions per second, stress tests have revealed that high loads cause slowdowns. The activation of additional task chains to relieve this congestion will be necessary for TON to reach its full scalability.
The network’s native asset, toncoin, is used for more than just standard staking and gas costs. It is now a part of the Telegram ecosystem, where users may buy anonymous phone lines and pay for services like Telegram Premium. In order to close the distance between cryptocurrencies and popular digital services, this integration is essential.
Issues with Toncoin’s Issuance and Decentralization
Toncoin’s early mining efforts, which concentrated a significant amount of tokens in a small number of wallets, have caused dispute regarding the token’s issuance history. Concerns over the network’s decentralization have been raised by this concentration, since a few number of people presently own the majority of the token supply. Discussions about ecological control and governance have resulted from this.
Ecosystem Development and On-Chain Performance
The environment of TON has grown remarkably in 2024. An on-chain cryptocurrency research platform called CryptoRank claims that by October, the blockchain’s Total Value Locked (TVL) had increased from $17 million at the start of the year to $400 million. Furthermore, the platform logs more than $4 billion in transactions every day, and there are more than 21 million distinct wallets on the network.
This expansion has been made possible in large part by Telegram’s user base, which has fueled widespread adoption. Recently, there were more over 1.4 million Daily Active Wallets on TON, often surpassing Ethereum’s activity. TON has the ability to greatly expand the reach of Web3 technology by introducing it to millions of non-crypto users through tighter integration into Telegram’s services.
