The Durov brothers, creators of social network VK and Telegram messenger, claim that the issuance of their cryptocurrency – TON – is going to be a major event in the crypto world in 2019.
What Do We Know About TON
The new cryptocurrency will be tested and audited in the next quarter, and by the end of the year, the system’s wallet will begin its operation. The coin will be available in the very beginning of the next year. TON is a name for both token and the network, but later, after the token issuance, the coin will be renamed Gram.
As the main benefit of the TON network, the creators mention its alleged high transactions speed, significantly overtaking Bitcoin and Ethereum on this indicator. According to the brothers, the system will be capable of processing up to 10 million transactions per second, competing with VISA and Mastercard.
Other significant features are the chain’s high scalability and a technology called Instant Hypercube Routing that are aimed at erasing the overloading issue. However, the system does not provide for mining – earning the coin will be possible by transaction validation.
The TON World
The team introduces a range of services in the ecosystem. Among them, there’s a decentralized storage, a proxy service, a payment platform and a service assigning names to nodes, smart contracts and so on.