What is TON ?
TON stands for Telegram Open Network, a decentralized blockchain-based platform and cryptocurrency developed by the messaging app, Telegram.
The TON platform was created as a fast, scalable, and secure alternative to existing blockchain networks, and it aims to provide a more user-friendly and accessible experience for those who are new to blockchain and cryptocurrency.
TON uses a unique consensus algorithm called the "TON consensus" which combines elements of proof-of-stake and sharding, allowing it to process large amounts of transactions quickly and efficiently. This, in combination with its fast block times and low transaction fees, makes TON well-suited for a variety of use cases, such as micropayments, decentralized applications, and remittances.
The native cryptocurrency of the TON network is the GRAM token, which is used as a means of payment, store of value, and investment.
In summary, TON stands for Telegram Open Network, a decentralized blockchain-based platform and cryptocurrency developed by the messaging app, Telegram. TON aims to provide a fast, scalable, and secure alternative to existing blockchain networks, and its unique consensus algorithm, the "TON consensus," combines elements of proof-of-stake and sharding to process transactions quickly and efficiently. The native cryptocurrency of TON is the GRAM token, which is used as a means of payment, store of value, and investment.