Key points:
- TONNEL Network was launched on the TON blockchain mainnet to ensure on-chain privacy through Zero-Knowledge proofs. This leverages TON virtual machine updates for secure computations.
- Key features include private transfers of $TON and $TONNEL tokens and a ZkNFT standard for confidential NFT assets.
- TONNEL is distributing 100,000 $TONNEL tokens via an airdrop campaign to drive adoption and growth of the privacy protocol.
- Our price prediction algorithm predicts that the price of Toncoin (TON) will increase by 4.23% and reach $2.50 next month.
TON Blockchain has welcomed a new privacy protocol called TONNEL Network to its core network, aiming to provide on-chain privacy to users through zero-knowledge proof technology.
? @tonnel_network has launched on TON Mainnet, introducing a Zero-Knowledge privacy protocol to improve on-chain privacy for #TON users.
Join the celebration with TONNEL’s Mainnet airdrop campaign for a chance to win $100,000 TONNEL. Details: https://t.co/EE6UwEqGrx pic.twitter.com/ftttzpTRPG
– TON? (@ton_blockchain) January 15, 2024
TONNEL Network uses the latest TON Virtual Machine (TVM) update that enables complex calculations and proof verification on smart contracts. This allows TONNEL to implement Zero-Knowledge proofs that validate transactions without exposing sensitive information.
The main features of the TONNEL network include:
- Private transactions for Toncoin ($TON) and $TONNEL tokens. More jettons will be supported in the future.
- A ZkNFT standard for minting, transferring ownership, and burning confidential NFTs. TONNEL has already implemented the first private NFT collection on TON using this technology.
To celebrate its launch on the TON main network, TONNEL Network invites the community to participate in its airdrop campaign, where it will distribute 100,000 $TONNEL tokens to lucky participants. Individuals can participate in this airdrop campaign by joining the TONNEL network’s Telegram channel.
To know more: 8 Best Airdrop Sites for Free Cryptocurrency Airdrops
TONNEL Network is one of the first to use zero-knowledge proofs on the high-throughput TON blockchain.
Additionally, zero-knowledge proofs allow parties to validate information without exposing the underlying data. For example, someone could demonstrate ownership of a ZkNFT without revealing their wallet or the NFT’s metadata. TONNEL uses efficient ZK-SNARK proofs suitable for blockchain transactions.
By improving privacy, the network could attract more users and decentralized apps into the TON ecosystem.
Toncoin (TON) recent price movement
According to the CoinCodex price chart, the price of Toncoin (TON) has fluctuated over the past month, reaching a high of $2.42 on December 4, 2023 and a low of $2.11 on January 6, 2024.
As of today, January 17, 2024, the price of the token is $2.35, which is a drop of 2.2% compared to the price of $2.45 in the last 24 hours. It also holds a market capitalization of $8.12 billion and a market dominance of more than 0.48%.
According to our forecasts, Toncoin price is expected to continue falling in the short term: it could lose another 3.26% and reach $2.32 by January 22, 2024.
However, in the next month, Toncoin price is expected to increase by 4.23% and reach $2.50 by February 16, 2024. The long-term forecast for Toncoin is more optimistic, as we estimate that Toncoin price could peak at $3.06 by the end of 2025.
