đź’ŽWhat is The Open Network?
What is TON?
The history of blockchain has been covered superficially, now let’s explain what it is.
The Open Network is a 5th generation blockchain platform, the only one of its kind. It was decided, not by us, but by the think tank Binance, at the beginning of TON’s development.
The main goal of blockchain, as the Durov brothers put it: to unite all cryptocurrency chains into one network, hence the name: The Open Network.
Let’s look at the important components of the system in order:
Transactions.
They are cheap and fast. Blockchain is already capable of conducting: 1,000,000 transactions per second. For example, the famous Ethereum has this figure: 20 transactions per second.
Regarding the cost, the average transaction fee in Ethereum: 0.0016 ETH or $2.3. In TON, it is about $0.01 — it is very cheap comparing to not only ether, but to most of top blockchains as well.
Services
TON is becoming more and more encrusted with various services and applications: from mobile wallets like Tonkeeper and Tonhub, to blockchain explorers like TON Scan and Ton.page.
Back in the autumn of 2021, it was hard to imagine so many initiatives. Back then, TON followers only enjoyed Cryptobot on Telegram and a few more already seniors.
Now, you can find dozens of apps for your needs on the TON’s (TON App) homepage.
All of these services have one thing in common: minimalism. The simplicity of all services is an automatic payoff, even for those who have heard the word “cryptocurrency” for the first time. And it sets the stage for blockchain’s popularization.
Scalability
At the beginning of the article, we mentioned TON’s goal: to unite cryptocurrencies.
Well, the main feature of TON: infinite scalability.
It is caused by a complex four-tier infrastructure of TON, consisting of shardchains (a method of separating and storing a single logical data set in the form of multiple databases), workchains, blocks, and masterchain (development and evolution of solutions based on distributed ledger technologies). But these are technical details that we will issue a separate glossary about.
The bottom line is the same: TON is the only platform that can unite all blockchains into one network and create WEB3 — a decentralised internet.
It is on a level above, other blockchains. The Open Network is the future.
