TON (blockchain)

Last updated
The Open Network
Other namesTON
Original authors Nikolai Durov, Pavel Durov
Initial release6 September 2019;6 years ago (2019-09-06)
Repository github.com/ton-blockchain/ton
Platform Blockchain, Distributed computing
Type Blockchain, Cryptocurrency
Website ton.org

The Open Network (TON), previously known as the Telegram Open Network, is a decentralized layer-1 blockchain. TON was originally developed by Nikolai Durov, co-founder of the Telegram messaging platform. [1] [2]

Contents

Telegram had planned to use TON to launch its own cryptocurrency (Gram), but was forced to abandon the project in 2020 following an injunction by US regulators. The network was then renamed.[ citation needed ]

History

The Open Network (TON) began in January 2018, when Telegram Messenger Inc. and TON Issuer Inc. started selling "Gram" tokens to finance development of the Telegram Open Network blockchain, ultimately raising US$1.7 billion across two private SAFT rounds. [3]

Peer-to-peer transfers inside Telegram via the @wallet bot became available in April 2022. [4]

In April 2024 Tether (USDT) issued a native TON version. [5]

References

  1. ↑ Ray, Siladitya. "Telegram-Linked Toncoin Slumps 20% Since Pavel Durov's Arrest—As Crypto Industry Calls For Billionaire's Release". Forbes. Retrieved 2025-10-04.
  2. ↑ Weeks, Ryan; Kharif, Olga (2025-07-24). "Ton Foundation Seeking to Join Crypto Treasury Company Trend With Toncoin Pitch". Bloomberg.com. Retrieved 2025-10-04.
  3. ↑ "SEC Halts Alleged $1.7 Billion Unregistered Digital Token Offering". U.S. Securities and Exchange Commission. 2019-10-11. Retrieved 2025-05-17.
  4. ↑ "Cryptoverse: TON takes off on Telegram tie-up". Reuters. 2024-04-30. Retrieved 2025-05-17.
  5. ↑ "TON takes off on Telegram tie-up". Reuters. 2024-04-30. Retrieved 2025-05-17.
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