Telegram Open Network ($TON)
The Open Network (TON) is a decentralized and open internet platform made up of several components. These include: TON Blockchain, TON DNS, TON Storage, and TON Sites. TON Blockchain is the core protocol that connects TON’s underlying infrastructure together to form the greater TON Ecosystem.
TON is the native token of the TON network. Some of its functions are:
- Gas payments for payment transactions and interaction with smart contracts.
- The ability to perform native cross-chain operations on the network. Remember that TON is the masterchain token and that each workchain has its own token that is interoperable with TON, so these operations are enabled natively.
- The token is also used to pay for access to network resources. For example, to access the decentralized storage system (TON Storage), or the DNS service (TON DNS), or the services deployed in the TON Services layer. In all these cases, Toncoin is the currency used to pay.
- It is used for the deployment of new staking nodes for the master chain, or for work chains and sharding chains.
- It is also used for decentralized protocol governance.
TON recently integrated into Telegram. This caused the active TON addresses on the Ethereum network have skyrocketed, increasing sevenfold and surpassing the 300 mark for the first time since last December. This surge is attributed to the integration of the TON token into the Telegram app