The Open Network (TON): what you need to knowThe Open Network (TON): what you need to know

The Open Network (TON) is a Layer 1 blockchain originally developed by Telegram and continued since 2021 as an open-source project by the community. The network aims for massive scalability and tight integration with the Telegram messenger, putting crypto applications within reach of hundreds of millions of users. The native token TON is used for staking, transaction fees and governance.

Whitepaper: https://www.lcx.com/ton-mica-white-paper/

TON uses Byzantine Fault Tolerant Proof of Stake for consensus and is built around a masterchain and multiple workchains, which can each be further split into shards. Validators stake TON to validate transactions and produce blocks. The sharding model lets the network in theory process very large numbers of transactions per second.

• Ticker: TON

• Category: Layer 1 / Smart contract platform

• Blockchain: The Open Network

• Protocol: Byzantine Fault Tolerant Proof of Stake

• Year of launch: 2018 (originally), 2021 (mainnet community)

TON supports smart contracts in dedicated languages such as FunC and Tact, and offers, alongside tokens and NFTs, native services like TON DNS, TON Storage and TON Sites. The tight integration with Telegram lets developers ship their applications as Mini Apps, and users can create and use TON wallets directly inside the chat app.

The TON ecosystem is growing rapidly around Telegram integrations: Mini Apps, Telegram Stars, gaming applications, payment features and wallets inside Telegram itself. There is also a growing DeFi, NFT and payment ecosystem on TON. Through its close ties to Telegram, TON has access to a huge distribution channel for consumer crypto.

TON was originally designed in 2018 by Pavel and Nikolai Durov, the founders of Telegram. After a lawsuit with the US SEC, Telegram pulled out of the project in 2020. In 2021 independent developers and the TON Foundation took it over and launched the mainnet as a community-driven, open-source network that is still maintained independently today.

BTC Direct has been the European entry point to crypto since 2013. We make buying The Open Network straightforward, even if it is your first time:

• Trusted in Europe. BTC Direct is registered with the Dutch Central Bank (DNB) and operates under MiCA, the EU regulation for crypto.

• Familiar payment methods. Pay with iDEAL, Bancontact, Sofort, SEPA bank transfer, credit card, PayPal or Apple Pay. Your TON is on its way within minutes.

• Your coins, your control. We do not store your TON. After your purchase, your coins are sent straight to your own wallet address.

• Based in the Netherlands, serving all of Europe. Our experts are based in the Netherlands and answer in your language across the SEPA zone. Need help? We are here.

• Start with a small amount. From just €30. The minimum varies per coin.

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For more technical information about The Open Network, visit the official website.

Cryptocurrencies, including The Open Network (TON), are volatile and carry risks. The value of TON can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

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