What is TON and Toncoin?
TON is the “Future of Currency”, as its creators call it. TON has been inherited from Telegram. It is a fully decentralized layer-1 blockchain designed by Telegram’s founders.
What are the Digital Assets on TON?
TON has three types of digital assets:
- First is the Toncoin, the primary token of the network. It is used for all basic operations on the blockchain, like paying gas fees or staking for validation.
- The second type is native tokens which are unique kinds of assets that can be attached to any message in the network. These assets are currently not in use since the functionality of issuing new native tokens is closed.
- Finally, the third type is contract assets — analogous to ERC20, assets that are managed by arbitrary contracts.
Why was the TON created?
The TON blockchain was designed to onboard billions of users (initially, the closed community of Telegram users). Toncoin’s founders began to explore blockchain solutions for Telegram Messenger back in 2018.
It is now used for transaction fees, securing the blockchain through staking, deciding how the network develops, and settling payments.
TON was also created for talents. It accepts applications from individual contributors, independent teams, nonprofits, academics, etc., for its grant program (discussed at the later stage in this blog).
Founders of Telegram Messenger, the Durov brothers, released the first version of the Telegram Open Network whitepaper.
Telegram was forced to cease the active development of TON. However, a vibrant open-source community continues to maintain the network and build new TON functionality, bringing Telegram’s design to fruition.
TON becomes ‘The Open Network’. TON mainnet is fully operational, hosting ultra-cheap, fast, and environmentally friendly transactions. In 2022 Q1, the TON Defi and TON’s developer program was launched.
Benefits of TON
- It has low fees.
- It boasts ultra-fast transactions.
- TON is environmentally friendly.
- TON has ETH and BSC as exchanging bridges.
- TON blockchain has easy-to-use native apps. Some of these native apps can be used directly in Telegram, such as @wallet or @cryptobot.
- Wallet apps: Tonkeeper, Tonhub, Android TON wallet, and iOS TON wallet.
- TON is scalable and shareable. Its flexible architecture lets it grow with no loss of performance.
- Using Tonkeeper (one of the wallets that support TON), users can transfer NFTs via links and QR codes.
- You can stake your TON in official TON Nominator Pools.
- It has a grant program that pays in Toncoins. TON’s grants are an additional incentive for talented people to build something benefiting TON.
Who can Apply for TON’s Grant and get Benefitted?
1. Projects contributing to public good via the TON blockchain.
2. Early-stage and ideation stage projects looking to kickstart.
3. Projects that champion open-source code.
4. Projects with unique use-cases.
Read more and apply at https://ton.org/grants
Starting in 2020, TON has grown. Thanks to the unwavering efforts of a global, decentralized community of crypto enthusiasts, developers, designers, and other professionals. As the developers of TON say, their community is the key to TON’s future, and they love more crypto enthusiasts to join them.
The telegram community of TON is here: https://t.me/toncoin. As of today, it has 725 000 members. If you wish to be a part of their Twitter community, you can follow them here: https://twitter.com/ton_blockchain.
Some facts and figures
At the time of writing,
- The Toncoin price was $1.08 as per ton.org. On Unocoin, you can buy Toncoin at INR 134.69.
- The Market capitalisation is $1.20 B, with a total supply of 5.04 Billion.
- It has witnessed 62,372,666+ transactions already.
- TON has 743,017 wallets to date;
- TON has 203 validators.
- The platform has attracted investments from significant international funds, such as DST Global, C Ventures, and K3 Ventures. A short time ago, Matrixport too launched a financial product for Toncoin holders.
Buy Toncoin now, Only at Unocoin!
Now when you know what TON is, why it was created, and the benefits it beholds, let us see where you can buy Toncoin.
Unocoin is the only crypto exchange in India where everyone can buy Toncoin in exchange for their fiat currency (INR).
How can I buy Toncoin?
- Download the Unocoin application on your iOS or Android device. Alternatively, you can visit www.unocoin.com.
- Create a free account on Unocoin by entering your phone and Aadhar number.
- Top up your Unocoin INR wallet.
- Go to the ‘Exchange’ page; search for Toncoin.
- Click on ‘Buy’ to place an order.
- Trade / Sell Toncoin to get multiple other digital assets.
Currently, Unocoin supports the third type of digital asset of the TON network, the one analogous to ERC20. When writing this piece on Unocoin, you could buy Toncoin at INR 134.69. Unocoin not just provides the facility to let you buy Toncoin in India, it also offers many other benefits, like
- INR 100 worth of free bitcoin on every new sign-up.
- Earn Satoshi daily by Shaking Your Phone.
- Earning referral income under Unocoin Refer And Earn Program.
- Earn interest on your USDT.
- Take a BTC loan as collateral for some emergency.
Please find the list of authentic Unocoin accounts for all your queries
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Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests. This form of trading and investment has risks that consumers may not know. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).