Toncoin (TON) price has declined today.

Toncoin (TON) is priced at $4.73 today, with a 24-hour trading volume of $284,908,638.10. It is reflecting a 9.87% decline over the last 24 hours and a 16.52% decline over the past 7 days. With a circulating supply of 3.47 Billion TON, Toncoin’s current market cap is at $16,438,834,739.78.

Introducing Toncoin (TON)

Toncoin (TON), the TON network’s native cryptocurrency, formerly called Gram, was originally developed by Telegram in 2018.

It transitioned from the “Telegram Open Network” to “The Open Network” after the TON Foundation took over. Since 2020, the TON Foundation, an independent community, has guided Toncoin.

Initially, TON aimed to integrate a user-friendly app for financial transactions, where users could transact with TON. Using the proof-of-stake (PoS) consensus, the network prioritizes scalability and reliability. The platform promises fast, secure payments with minimal fees and support for third-party apps.

The developers envision a broad ecosystem, decentralized storage, services, a DNS equivalent, an anonymous network, an instant payment platform, and efficient transaction processing.

The Founders

Initially created by brothers Nikolai and Pavel Durov, the Telegram team spearheaded the development of this blockchain platform. Telegram had plans to introduce an on-chain token called Gram and establish a decentralized applications (dApps) platform.

Gram quickly gained significant attention, but this attention brought about challenges. The United States Securities and Exchange Commission (SEC) prohibited the development of Gram due to its classification as a security, effectively banning the release of Gram tokens.

Despite facing regulatory hurdles, the Telegram team had already propelled TON to a state where it was nearly a fully-fledged product.

However, in 2020, Pavel Durov, CEO of Telegram, decided to step away from the project, leaving the development in the hands of independent crypto enthusiasts.

The project was initially developed as open-source code, enabling anyone to continue its development.

Anatoliy Makosov and Kirill Emelianenko, members of the community known as NewTON (later renamed the TON Foundation), assumed responsibility for launching and advancing the current network.

Features of Toncoin

TON has a multi-level structure, clinging to a “blockchain within a blockchain” approach through sharding. With its subnets or shards, this setup prevents unverified block buildup and boosts efficiency.

The TON network uses master, work, and shard chains. Developers focus on scalability, efficiency, and broad adoption, enabling rapid transaction processing with high TPS.

TON provides various services:

• TON Wallets (Trust Wallet or Atomic Wallet) for fund transfers
• TON Services for dApp creation
• Easy access to third-party apps.

TON Storage ensures private encryption with the owner’s wallet key, while TON Proxy grants access to the TON blockchain via decentralized VPNs.

The TON DNS lets traditional websites run within the TON framework, offering users memorable, clear names.

Toncoin (TON) Coin Supply

Toncoin currently has 3.4 billion TON in circulation out of a total supply of 5 billion TON.

The native token powers the ecosystem. Developers use it to create decentralized applications (dApps), cover transaction processing costs, support cross-chain transactions, and earn staking rewards for safeguarding the blockchain and its services.

You can also use Toncoin for payments in decentralized data storage, TON DNS/TON Proxy, and decentralized service fees.

TON validators earn fees in Toncoin. Plus, if you hold Toncoin, you can vote on updates and advancements in TON’s governance program.

Security Measures of the Toncoin (TON) Network

The Toncoin network uses the proof-of-stake (PoS) consensus mechanism to secure and validate transactions. Validators receive Toncoin as a reward.

Nominators can give tokens to validators and earn rewards. Smart contracts manage validators and nominators, adding an extra layer of security.

The TON Virtual Machine (TVM) executes these smart contracts.

How to Buy Toncoin (TON)

As of 2024, Toncoin (TON) is available for trading on multiple cryptocurrency exchanges, including:

• KuCoin
• Huobi Global
• Uniswap
• Gate.io
• OKX

4.1

Read our review

Tradable Coins

• 600+

Payment Options

Fees

• 0.05%

Get started

More details

Kucoin stands out among other crypto exchanges due to its impressive span of 1100 markets and 600 digital currencies. This, coupled with a user-friendly interface and secure investment environment, has made Kucoin an increasingly popular choice. However, US customers can not use the trading platform.

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  Ability to earn interest on crypto.

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  Low fees.

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  Good customer service.

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  Volume discounts on fees.

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  Features like margin and futures trading.

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  Not licensed in the U.S.

• 

  Lack of investment programs.

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  Low trading volume.

4.4

Read our review

Tradable Coins

• 700+

Payment Options

• +2

Fees

• 0.2%

Get started

More details

For traders interested in exchanges with high liquidity, Huobi is a great choice. The exchange gives traders a low fee of 0.2% and gives addition discounts by holding the Huobi Token (HT). Huobi supports more than 700 crypto assets and have deposit and withdrawal of fiat currency. The downsides are regulatory compliance issues and bad customer support.

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  High liquidity.

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  Supports fiat currency.

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  Low fees.

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  High number of supported cryptocurrencies.

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  Regulatory challenges.

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  Wash trading accusation.

Coinweb’s Crypto Wiki can provide educational resources for those new to cryptocurrencies and interested in purchasing Toncoin.

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