Overview:
Toncoin is a decentralized layer-1 blockchain that is supported by the Switzerland based non-profit organization, the TON foundation. TON is an abbreviation for The Open Network.
KEY TAKEAWAYS
-Toncoin is originally created in 2018 by Telegram.
- $ TEPE and $FISH are the best TON meme projects built on TON blockchain.
-Toncoin uses proof of stake consensus mechanism.
-Tonhub is the official wallet for TON blockchain.
What is Toncoin used for ?
The $TON token is used for so many benefits on the Toncoin blockchain
1.Toncoin Governance: The $TON token is used as a governance token for the Toncoin blockchain. The token is used by the holders to vote on proposals that will determine the future of the blockchain.
2.Paying for the transaction fees: For any action to be performed on the Ton blockchain you need to have $TON token. It is used to pay for any transaction on the blockchain.
$TON is also used to pay for storage space on TON storage and for blockchain based domain names.
3.Staking: As an investor, you can stake your $TON tokens to validate transaction on the network.
APPLICATIONS/PROJECTS FOUND ON TONCOIN BLOCKCHAIN
1.Mobile: This is an app on the Toncoin network that provides you speedy mobile internet for home and travel. In the app, you can purchase your E sim from anywhere and use it instantly. The E sim can be used alongside a regular SIM card of your local cellular
service provider.
2.Tribute: Tribute helps creators monetize their audience. You can sell digital products, contents, media and get users to pay and donate to you.
3.TON Diamonds: This is a service on TON network that helps you to market and auction your works of art as an artist. You can place your artworks for sell on the platform and earn diamonds which is convertible to TON.
4.Get gems : Here, you can explore, buy and sell collectibles used in gems and services. You can auction, buy and sell your NFTs on the app.
5.Major: This is the first rating game in Telegram. The game supports TON connect and starting from the end of July, Major will be awarding Toncoin to the top 10 players. You simply have to launch the Major bot, carry out the daily tasks and earn the stars. The higher the stars you earn the high chances of you earning the TON when it is listed on major exchange. Currently Major is in partnership with BingX exchange.
6.TON Teleport BTC : This is a trustless and secure bridge for seamless Bitcoin transfers to and from TON. It will allow you to engage in DEFI on TON, use your Bitcoin in TON DEXS, lending platforms and more.
Where to buy TON
You can buy TON from
Centralized exchanges such as MEXC,OKX, KuCoin Bybit, Binance etc.
Alternatively you can buy TON from TON-native platforms such as DeDust.io and STON.fi.
Decentralized exchanges- you can buy Toncoin from Uniswap, Pancakeswap and Biswap.
You can buy and keep your TON by setting up a wallet @wallet in Telegram, Tonkeeper, Openmask and MyTonWallet.
Partnership/ projects ongoing in TON blockchain:
Animoca Brand’s Mocaverse are in partnership with TON foundation with $20M Token Reserve.
OKX wallets integrates and support TON on their network.
Catizen, a play to earn airdrop project has partnered with TON.
Tokenomics
The market cap of Toncoin is $17B. The live Toncoin price is $6.87. TON has a circulating supply of 2.5B coins and a max supply of 5.1B TON.
Final thoughts:
A high market capitalization such as TON implies that the asset is highly valued by the market. Toncoin integration with telegram that has over 10million users shows that its utility with a lot of partnerships and innovations going on in the blockchain.