Understand the Telegram Token Ton in one article - a super project in the currency circle with 550 million users

2022/12/18 09:22
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The first public chain ecological project with 100 million users in the crypto.

Telegram has 550 million global users and is also the most influential tool in the crypto. The official 200,000 people of major exchanges and project developers are still popular even in the bear market.

Therefore, Telegram token Ton cannot help but attract attention. After all, this may be the first project in the crypto with a user base of 550 million. The recent performance of its token is also worth noting:

currency circle TON trend

This article will try to take you through the history and development of Ton as concisely as possible to help you understand it better. At the same time, tutorials will also be given on how to use the wallet, how to purchase a domain name, how to purchase an anonymous mobile phone number, etc.

Table of contents:

  • Project Description
  • Project History and Roadmap
  • Project Highlights
  • Token usage and data
  • Network performance
  • Tutorial on purchasing a domain name (username) or anonymous mobile phone number
  • risk warning
  • write at the end

1. Project Introduction

The project belongs to a layer of IPOW public chain. The so-called IPOW means that tokens are initially distributed in POW mode, and after the distribution is completed, it is converted to a proof of equity method similar to ETH.

In June 2020, the TON mining project was launched. The initial tokens had no value and were only used for blockchain testing. In the subsequent time, it has developed vigorously.

Total number of tokens: 5.057 billion, fully circulated, price $2.38, total market value 3.5 billion, ranking 21st in market value. The token was launched in September 2021, with an all-time high price of 4.5.

The annual inflation of the token is about 0.6%, which is used for staking nodes in the POS mode. But at the same time, all fees such as domain name auctions in the TON network will be destroyed and withdrawn from circulation, so it may actually be passed.

At present, the project has switched to POS mode and introduced the "unlimited mining" mode, that is, users can use graphics card mining machines to mine and obtain TON, but in fact, users mine ETH, which is converted into ETH by the mining program...Currently There are not many users, there are only 633 miners doing this (although the mining program does not charge fees, but is it really a bit unnecessary?)

The token is currently only listed on 5 exchanges, the largest of which, OKX Exchange, has a maximum daily trading volume of US$17 million, and is not currently very popular. But based on the background of the project, I personally expect that there should be a chance to join Binance.

If you want to buy coins, you can click here to register for OKX and enjoy a permanent 20% fee reduction. At the same time, you can support me. Thank you🙏

The main reasons for the recent price increase of Ton in the bear market are:

1. Anonymous number purchase online

The price will increase by 1TON every 3 hours, and will rise to a maximum of 99TON. The number can only be used to register and use Telegram, and external use is not currently supported.

2. Telegram Username Auction

It can be understood as an ETH domain name, but considering that there is already a utility program called Telegram, in the future, the username links of various Telegram groups can use the new version, which will meet the demand.

At the same time, the project ecology has gradually begun to enrich, and the market communication power has continued to increase. But what surprises the author even more is not only the huge user base, but also the things that the TON network has put online in just one year, including the TON network, TON protocol, TON agent, and the decentralized storage that will be online , BTC and ETH cross-chain, etc., which are very worthy of attention and research.

Disclaimer: This article is only for the purpose of sharing information and is not investment advice. It does not mean that I think it should or is worth buying now. On the contrary, I think that the market value of the full-circulation project has reached around 20 not long after it was launched, which is slightly high. Readers are advised not to take this as investment advice.

2. Project History and Roadmap

1. From 2018 to 2021, a tortuous development history

In 2018, we developed a public chain targeting hundreds of millions of users.

The Telegram Messenger team, led by brothers Pavel and Nikolai Durov, began exploring blockchain solutions for Telegram Messenger. Finding that the current layer 1 blockchain could not support Telegram's hundreds of millions of users, they decided to design their own layer 1 chain, which was then called Telegram Open Network.

2018, ICO issuance

Telegram raised $1.7 billion in a private sale of TON tokens (then known as Grams), the second-largest cryptocurrency financing ever (EOS was first, with $4 billion)

In 2019, testnet launched & code open source

The Telegram team has released a series of documents detailing the design of the TON blockchain. Telegram launched two TON testnets - one in spring 2019 and the second in November 2019.

The Telegram team launched the first TON testnet in the spring of 2019. Afterwards, the code was open sourced and testnet2 was launched on November 15, 2019.

In October 2019, the SEC sued

The U.S. Securities and Exchange Commission sued Telegram, accusing it of conducting an unregistered securities offering. Telegram argued that the SEC’s claims were baseless but agreed to delay TON’s launch until the legal issues were resolved.

In March 2020, the project was terminated

Telegram has finally decided to call it quits amid an ongoing war of attrition with U.S. regulators.

In May 2020, the SEC settled and the funds were returned

The Telegram team stopped developing TON and supporting testnet2, paid a settlement of $18.5 million, and agreed to return funds to investors.

2020-2021, rebirth, community development,

A small group of open source developers - NewTON - delve into TON's codebase, architecture and documentation. They resumed active development of TON based on the designs detailed in TON's original documentation.

May 2021,

Testnet2 remained stable for a long time and the community voted to rename it Mainnet. The NewTON team has changed its name to the TON Foundation - a non-profit community focused on further supporting and developing the network.

Second half of 2021

Ton, ETH and BSC cross-chain bridges are launched, tokens are listed on major exchanges , and telegram push channels are opened

Since then, community attention has continued to increase and development progress has continued to accelerate.

2.2022, take off

2022 Annual

Launched TON network POS node, supported DeFi services, launched developer plan

Second quarter of 2022

Launch TON domain name and TON payment online, and plan to support use in online payment, streaming media, games, DeFi and other fields.

Third quarter of 2022

Launched TON network, TON protocol and TON agent.

3.The fourth quarter of 2022

TON storage realizes decentralized storage similar to AR and FIL.


Bitcoin and ETH and everything else EVM cross-chain.

3. Project Highlights

1.TON lightning payment

First of all, the current TPS of the TON network is already very fast and can support processing millions of transactions within 5 seconds, which is faster than after ETH sharding. Although the TON network can be improved from 5 seconds to faster, this will also bring storage costs, security considerations and other issues.

In order to address larger-scale use, TON has introduced concepts similar to the Lightning Network on top of its already extremely fast foundation to achieve lightning-fast transaction speeds and zero network fees required in certain scenarios.

This will lead to possibilities in future offline payments, online games, etc.

2.TON domain name

On the traditional Internet, when we visit a website, such as https://dayu.xyz , we actually visit the address . Behind this is the DNS service, which converts the address recognized by the computer into an address that is convenient for us to remember.

However, addresses like dayu.xyz are actually sold and managed by centralized companies such as goddy and Alibaba Cloud, which will bring privacy and security issues.

On the TON network, there will no longer be a centralized company to manage these domain names. Users can purchase domain names by paying TON tokens. No one will profit from the sale of domain names. All domain name purchase fees will be destroyed and removed from the network. Removed from circulation (yes, TON is a deflationary token!).

The sales rules are completely transparent, and everyone has a fair and peaceful purchase opportunity. At the same time, in order to prevent the TON domain name from being controlled by whales at a very low initial price like other projects, public auction opportunities and a higher reserve price are completely adopted.

The sales system is absolutely secure and private. Users only need to use their wallets to purchase without any factors linked to the user’s true identity.

The TON domain name is the same as the domain name on ETH in that they are both a DNS protocol. But the difference is:

ENS is not an official ETH, but a project DAO, independent of ETH. Its token ENS is used for governance purposes, and all sales revenue belongs to the DAO;

The TON domain name is the core service of the TON network. There will be no additional tokens, and all development will be empowered to TON holders, because all domain names will be destroyed and removed from circulation.

In addition, due to the GAS cost on ETH, it becomes impractical to register billions of subdomains on the network, but the GAS fee to register on TON DNS is only 1 cent, because the TON network can support use by people around the world in the future, People can use a unique, easy-to-remember address for their wallet, mail, web, or otherwise.

3.TON network, TON protocol and TON agent

It is a completely decentralized and secure privacy network, similar to the TOR technology of the Dark Web.

It has four characteristics:

**Decentralized:** A peer-to-peer network without a central server.

**Stable:** Offline nodes will not affect the function of the network and remain connected

**Anonymous:** It is impossible or difficult to know IP addresses from different locations.

**Security:** Data is encrypted when sent to the node.

For example, companies or individuals can use it to create a complete decentralized website - accessed using the username you purchased as mentioned above, such as OKX.TON, without the need for any domain name registration agency, certification agency, etc.

Users can access it safely without revealing any personal information, such as IP.

Simply put, it is a complete, new decentralized, highly private and secure Internet.

TON proxy, a new protocol compatible with existing website protocols, facilitates users to directly access .ton websites

The TON proxy will be divided into three stages, currently 1.0, supporting access to the TON decentralized network.

To put it simply, after users perform simple settings on their mobile phones, they can directly access websites on the Ton network. As shown below, set the proxy in WIFI as follows.

currency circle

After setting up, you only need to enter the address of the Ton network in the browser to access the Ton network normally, such as sex.ton (only an example, not accessible yet).

TON 2.0 stage, dedicated to solving privacy issues

For ordinary users, the IP addresses of users and sites will be completely blocked to ensure that users’ network behaviors are not tracked by hackers or other malicious services. And this service is completely free and can be used by anyone.

For professional users, they can avoid various DDoS and hacker attacks that are common in the current network and obtain more stable service quality.

TON3.0 stage, dedicated to decentralized finance

Through TON payment and TON network, incentives are provided for various network services, making the network increasingly sound and powerful.

The TON Foundation believes that these three initiatives will greatly change two things:

The first is to protect individual privacy and security. For example, the leakage of personal information may endanger an individual's life, especially when electronic products are everywhere and even enter the body.

The second is to break the monopoly control of large companies. They collect vast amounts of data, leaving individuals vulnerable to hackers following numerous user data breaches.

Not only that, this protocol has many unprecedented features. Professional users can also refer to this page (in English) to learn about website creation and other knowledge.

In the official roadmap, TON storage will be announced in December, and cross-chain BTC and ETH will be launched in 2023. Both of these things will become extremely important.

If TON Storage is successfully launched, relying on its strong user base and network performance, there may be a chance to witness the birth of some super applications - but telegram will undoubtedly be the first.

4. Token usage and data

As of December 17, 2022, the number of TON accounts is 1.74 million, the total supply is 5.7 billion, and 150 million are pledged.

The usage scenarios of TON tokens are as follows:

currency circle

Generally include:

——Main mainnet GAS fee and cross-chain handling fee.

——Expenditures for various applications on the TON network, such as NFT purchases and transactions.

- Borrow money and earn interest.

——Payment for decentralized services such as TON proxy and storage

——Payment to nodes

At present, the TON ecosystem is not large. You can find the following 13 categories on the official website :

currency circle

There are a total of one to two hundred apps in each category, but in fact some of them are just Telegram groups. Generally speaking, the ecosystem is still early.

From an investment perspective, it's worth keeping a close eye on the progress of this category. ETH cannot currently be said to be the best public chain in all aspects, but because it gathered the largest number of ecological developers at the beginning, it formed a significant network effect, which has led to it now dominating the world.

The TON network has built a brand new public chain from a completely different perspective, planning many scenarios from network protocols to decentralized storage, lightning payments, etc., coupled with its hundreds of millions of native users (currently in almost all kinds of groups) You can see the advertising push of TON tokens) and have the opportunity to gain greater development space.

Compared with APTOS, its current market value is only US$500 million, but it still has a huge amount of tokens to be released. For example, in March 2023, the tokens in the hands of institutions and project parties will be unlocked, and its total circulating tokens will be Just double it. Although its ecosystem may gain support from institutions and grow, the chips in the hands of institutions must eventually be shipped.

So, when "massive users" VS "institutions enter the market", everyone has to make some risk decisions on their own.

5. Network performance

TON is committed to building a multi-chain advanced layer network that supports all types of transactions.

currency circle

Compared with ETH and SOL, TON is a Turing-complete, high-performance one-layer network that can adapt to various complex possibilities. In contrast, ETH only has a Turing-complete EVM on the mainnet, with low performance. SOL can only operate normally when certain types of transactions are suitable, but when certain conditions are not met, the blockchain is prone to problems.

In terms of scalability, the TON network supports working chains, dynamic sharding, second-level cross-chain and cross-sharding, achieving millions of TPS per second.

ETH will only really improve scalability when sharding is finally implemented, but even then, ETH will have to wait 10-15 minutes between shards.

SOL does not support sharding or work chains.

In the future, TON can even achieve tens of millions of TPS and Turing-complete transactions per second. Please refer to the " White Paper " for details.

6. Purchase a domain name (user name) or anonymous mobile phone number

Currently, the most commonly used function by users is to purchase domain names and mobile phone numbers. To purchase, you must go through several steps:

1. Buy tokens

Currently, the OKX exchange has the largest trading volume for purchasing tokens, ranking third in the world. Click here to register on OKX and enjoy a permanent 20% fee reduction.

After purchasing, you need to withdraw TON to your wallet. Newbies need to deposit money first, and then use digital currencies such as USDT to trade TON.

2. Install wallet

Users can install the officially certified Tonhub and Tonkeeper wallets, both of which support Android and Apple phones. It is recommended that users install and use both wallets at the same time, because various different scenarios have the same wallet requirements.

When creating a wallet, be careful not to reveal the seed phrase. It is best to write it down and keep it, and do not let anyone know about it. Do not save it on any network disk, computer or take pictures (some mobile apps have the function of reading it).

The seed phrase created in one wallet can be imported after manually filling in the other one, so that both apps use the same wallet.

3. Purchase username

There are two ways to purchase a username:

One is manual auction through the official website.

" Click here " to access, as shown in the picture below, you can enter any user name you want to register. If it has been registered, it will be displayed as unavailable, and if it is available, the following interface will be displayed.

currency circle

To get this domain name, you need to scan it with the wallet you installed on it and transfer 65.61 TON to this wallet.

Note: The domain name is not obtained immediately after the transfer, but the auction process is started. The final domain name will be transferred to your wallet after a few days if no one bids.

If your auction fails, the money will be automatically returned.

Under this mechanism: the initial price is higher, which prevents early users from using robots to register thousands of accounts for dumping; at the same time, each domain name is no longer "first to win", but a fair auction, and the one with the highest price wins. , so that domain names can be better and fairly distributed.

All domain name auction proceeds will be automatically destroyed.

The second is to purchase directly through the exchange.

Click this link to visit the exchange, as shown below:

currency circle

The current floor price is 13TON, 200 are on sale, and the total number of registered usernames is only 15,825. It seems like everything is still in the early stages?

The current total transaction volume reaches 570,000 TOM

4. Purchase and use anonymous mobile phone numbers

There are also two ways:

One is to purchase directly on the exchange just now, click this link to access, as shown below:

currency circle

Similar to OPENSEA's experience, you can select the items you like and click to pay. For fixed-price items, you will receive them directly in your wallet after purchasing them.

The second is to directly find a good account to register on your own. Click here to visit the official website.

currency circle

Just enter the number you want in the output box above and click. Similarly, all numbers need to go through the auction process, so after searching, you can see the numbers that have been bid and those that have no bidders, as well as the end time.

currency circle

The auction price of the most expensive number in the picture has reached 52,500TON, which is about 130,000 U. Since the auction fee will not belong to anyone, but will be directly destroyed, this reflects the real demand of the market. This is unlike other domain name projects where large investors stocked up a large amount of goods in the early stage and even pushed up the transaction price, attracting retail investors to enter the market and then sell the goods in batches.

The third is to get a random number immediately at the lowest price, click this link to enter.

currency circle

The current price is 35TON, but this price increases by 1TON every 3 hours until it increases to 99TON.

Finally, the domain name purchased by the user will appear in the wallet. Click on the wallet address in the upper right corner and view "My Numbers".

At this time, the user can use this number to register for Telegram, or to unbind the current Telegram number. He only needs to click get login code to receive the verification code.

currency circle

Currently, this number can only be used in the Telegram network.

7. Risk warning

1.Higher market value

At present, there are not many ecological applications compared to ETH or the ETH L2 network, even compared to ATPOS or SUI. Everything is still developing, but the market value has entered the top 20. In a bull market, it may not be high, but in a bear market, this Ecological comparison with this market value will make people afraid to enter the market again.

Of course, the most important thing is not to look at the price, but to look at the development of the ecosystem. Therefore, it is worth adding this project to the watch list, focusing on observing the decentralized storage and BTC and EVM cross-chains scheduled to be launched, and focusing on observing the status of the community and developers. .

2. Economic model

It is now in full circulation, but I can’t find more detailed information on the token split through the official browser, how the tokens totaling more than 5 billion are distributed, and the average cost. I will continue to observe and have the latest information. Progress is tweeted.

3. Market trends

At present, the deep bear market is still going on, and no one can be sure when the market outlook will turn bullish. If the bear market lasts for too long, TON will not be able to survive alone.

8. Write at the end

At present, the blockchain bubble is constantly bursting. Whether it is the rise of the "real yield" model in the DeFi field or the shift of various GameFi from P2E to P&E, everyone from project parties, investors to retail investors are gradually beginning to realize that the crypto must truly create a wider range of intrinsic value, rather than pure financial speculation, before it can usher in a true bull market that belongs to the crypto.

When the Internet emerged, most people did not understand the Internet. In the early days of the Internet, people thought they all understood the Internet. The stock market soared. Newly listed projects, even chicken farms, only had to add "technology" or " Words such as "Network" can increase sharply.

In the end, the Internet bubble burst, and the leading companies fell by 95%.

And in this painful process, new opportunities were born, ushering in a real wave of Internet popularization, and countless innovative tools emerged, changing people's opportunities for learning and communication: people are accustomed to using the Internet to query information, and using instant messaging to work Communicate and have fun with videos, music, and games.

What is the future of blockchain? Payment, chain games, finance, better Internet, etc.

But in the end, which public chain and which application really triggers wider use? At present, we don’t have the answer, and we can’t even predict it at all. Just like standing in 2000, we couldn’t predict the emergence of WeChat and Douyin.

TON is now managed by a decentralized organization, but Telegram’s built-in wallet, extensive promotion, etc. are supported by Telegram natively. Considering that TON is the first massive user based on Telegram, it deserves our continued tracking and attention. (End)

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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