TON (blockchain)

Last updated
The Open Network (TON)
Developer Nikolai Durov
Initial releaseNovember 2019 (Mainnet)
Written in C++, FunC, Tact
Operating system Cross-platform
Type Blockchain platform
Website ton.org
Repository

The Open Network (TON), also referred to as TON Blockchain, is a public, decentralised, layer-1 blockchain platform which uses the cryptocurrency Toncoin (ticker: TON) to facilitate transactions and power its ecosystem of decentralised applications. TON was originally designed by Nikolai Durov, co-founder of the Telegram messaging platform, and first described in a technical white paper published in 2019. [1] Following a legal dispute with the U.S. Securities and Exchange Commission (SEC) that led to Telegram's withdrawal from the project in 2020, [2] the network has since been developed and governed by an independent, community-run body known as the TON Foundation.

Contents

The blockchain is named after its original working title, the Telegram Open Network, though the project was rebranded to The Open Network to reflect its independence from Telegram following the 2020 settlement. [3] In September 2023, Telegram designated TON as its preferred Web3 infrastructure partner, integrating a TON-based wallet directly into the Telegram application.[ citation needed ] TON's native cryptocurrency is named Toncoin; the name carries no additional historical or literary allusion, contrasting with the naming conventions of some contemporaries.[ 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. [4]

Peer-to-peer transfers inside Telegram via the @wallet bot became available in April 2022. [5]

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

References

  1. ↑ Durov, Nikolai (2021). "TON Whitepaper" (PDF). TON Foundation. Retrieved 18 February 2026.
  2. ↑ "Telegram to Return $1.2 Billion to Investors and Pay $18.5 Million Penalty to Settle SEC Charges". U.S. Securities and Exchange Commission. 26 June 2020. Retrieved 18 February 2026.
  3. ↑ "Telegram to pay SEC fine of $18.5 million and return $1.2 billion to investors as it dissolves TON". TechCrunch. 26 June 2020. Retrieved 18 February 2026.
  4. ↑ "SEC Halts Alleged $1.7 Billion Unregistered Digital Token Offering". U.S. Securities and Exchange Commission. 2019-10-11. Retrieved 2025-05-17.
  5. 1 2 Howcroft, Elizabeth (9 May 2024). "Cryptoverse: TON takes off on Telegram tie-up". Reuters. Retrieved 26 January 2026.
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