The Open Network (TON) is a user and service provider friendly blockchain and network project that is quick, safe, and scalable. It can handle millions of transactions per second if necessary. It is a completely decentralized layer-1 blockchain that Telegram created to accept its many users.
Use Cases of the Open Network
All sensible apps that are now suggested and conceived should be able to run on it, according to the researchers. TON might be viewed as a sizable distributed supercomputer, or more accurately, a sizable superserver, designed to host and deliver a range of services. TON is made up of the following elements: A platform for arbitrary services, a distributed hash table like Kademlia, a peer-to-peer network, a distributed file storage technology, a network proxy/anonymizer layer, and a flexible multi-blockchain platform TON DNS, a service that gives accounts, smart contracts, services, and network nodes human-readable names, TON Payments.
While the other parts of the TON project may be thought of as supporting the TON Blockchain, which is the project's main focus, they really end up having interesting and valuable capabilities on their own. When used together, they enable the platform to host more diverse applications than would be possible with only the TON Blockchain. Master, work, and shard chains make up the network of TON at the moment.
Tokenomics of TON
The native token of the network is toncoin (TON). The Open Network, sometimes known as TON, is a decentralized layer-1 blockchain. The fundamental foundation or architecture of a specific blockchain network is represented by Layer-1, which denotes the stage of blockchain development. The Proof of Stake consensus algorithm is used by TON. Based on the fundamental TON characteristics, the current yearly rate of inflation is 0.6%. The community as a whole is paying the validators through this inflation to keep the system running.
With a total supply of 5.04 billion, the market capitalization is 15 billion.
How Can I earn TON Tokens?
- Validator.
A high degree of Toncoin as a stake and access to high-performance hardware on a highly accessible network are requirements for becoming a TON network validator. Validators stake Toncoin for a set period of time, and after the validation cycle is over, the stake is returned with interest. For people who want to work as validators, open-source software is readily available.
Users' transactions are checked by network validators. A transaction is added to the blockchain if all validators agree that it is valid. Transactions with errors are declined. Therefore, in order to be paid and stay out of trouble, validators must swiftly and accurately validate user transactions. - Nominator.
Owners of validator nodes can borrow money from Toncoin holders using the TON Nominator service (validators). Those who leased their assets to the validator receive the toncoin that the validator earned.
The TON Nominator smart contract ensures that borrowed coins will only be used for validation and that any profit will be distributed in accordance with the terms specified.
How to Buy TON Token?
You can purchase TON on MEXC by doing the following:
1. Enter your MEXC account credentials, then select [Trade]. Select [Spot].
2. To view the trading pairs that are available, type "TON" into the search field. Use TON/USDT as an illustration.
3. Go to the [Spot] box by scrolling down. Enter the number of TONs you wish to purchase. Open a Limit order, a Market order, or a Stop-limit order, as appropriate. Use a market order as an illustration. Confirm your order by clicking [Buy TON]. The TON you just bought is in your Spot Wallet.
