Readiness status of TON (Telegram Open Network platform)

in: News

The Team spent much time on the development of additional unique algorithms for TON blockchain platform. That’s why the indication of the launch of Testnet is currently stated as end of March 2019 (was expected end of January 2019).

TON readiness as of February 2019

At the moment, the core of the blockchain is 95% complete. The test network will be shown to investors in March, after which third-party developers will receive access to the Testnet. It’s planned to launch the working version of the TON blockchain for all users of the messenger at the end of March.

Let us dwell on the algorithm of consensus within the network. Its implementation isn’t based on Proof-of-Work (as in Bitcoin), because this algorithm requires huge computational resources. In the Telegram Open Network, this will be a variation of Proof-of-Stake (PoS). Validators confirm transactions using the protection method, in which the probability of forming a block in blockchain for a participant is proportional to the share of cryptocurrency units that belong to this participant.

This is not an accidental decision: thanks to it, the Gram validator market can become very promising for third-party developers in terms of earnings, especially for the most agile, who’ll have time to take “a place under the sun”. And especially considering the fact that anyone can become a validator.

You can find out the latest news about the cryptocurrency Toncoin and TON platform by subscribing to our channel News of TON.