Toncoin

What is Toncoin (TON)?

Toncoin is the native token of the decentralized blockchain called TON. Blockchain is layer 1 network developed by Telegram with the goal of attracting billions of users. It claims to offer incredibly fast transactions, low costs, user-friendly interface and environmental friendliness.

If you are interested in the current price of Toncoin, be sure to take a look at the TON price chart above.

The first version of TON was released in 2018 by the company That Dubrov brothers (founders of Telegram). However, it was not until 2022 that TON became a fully functional open network.

The TON blockchain has its own TON wallet it allows users to store their assets and promises fast and secure crypto transactions without any intermediaries.

Works at TON Proof of Stake consensus mechanism. Thanks to this approach, TON holders can stake their coins, which gives them the right to validate and add new blocks of transactions to the blockchain, as well as create their own validation nodes.

Based on the main TON criteria as of 2022: the current annual inflation rate is 0.6%. This inflation represents the amount the TON community pays validators to keep the system running.

Purpose of Toncoins

Toncoin cryptocurrency assets can be used in different ways. Firstly, TON coins are used for pay a transaction fee. Secondly, in this way their owners can stake TON coins. network security. Additionally, by staking tokens, users can receive rewards for staking and voting rights. This leads to another goal of Toncoin – control. Tokens provide access to decision-making processes regarding the development of the entire TON network.

However, besides the main use cases, Toncoins can also be used:

• As a commission payment for processing on-chain transactions with smart contracts
• As a way to pay for services offered by decentralized applications built on the platform.
• As a method of payment for the development of new networks and additional currencies.

Although, since the TON blockchain is still developing, many more use cases for Toncoins are planned in the future.

Finally, please note that it is highly recommended that you analyze the TON price chart above before purchasing any Toncoins. This step is critical due to the high level of Toncoin price volatility. Why is he unstable? Mainly because the price of Toncoin, like the price of other crypto assets, is affected by changes in the value of the entire crypto market, which leads to the aforementioned volatility.