Sui Name Service (SuiNS) enables blockchain users to register human-readable web3 names, ensuring secure, seamless transactions and a user-friendly on-chain identity.

Some people have no trouble remembering new cell phone numbers, and there are even a select few among us who wouldn't find it hard to memorize a 16-digit bank card number. However, very few people would choose to tackle the job of reliably recalling an alphanumeric blockchain address. Network addresses on 

 (ETH) are 42 characters long, while on the 

 (SUI) blockchain they span 66. These complex and length addresses are virtually impossible for most users to remember, and are among the least user-friendly features of 

 networks. Not only are long blockchain addresses distinctly user-unfriendly, but they also lead to many instances of wrongly executed transactions due to incorrectly input characters. 

Sui Name Service (NS), a solution on the Sui blockchain, has been specifically designed to tackle this problem. The service allows users to create human-readable and easy-to-remember web3 names linked to their underlying blockchain addresses. Using SuiNS, you can transact within web3 using your preferred username and, optionally, an avatar, rather than a long, complex blockchain address.

 (NS), or simply SuiNS, is a decentralized naming service that allows you to create and use a human-readable, user-friendly web3 handle to interact with the blockchain environment, instead of using a typical long and complicated network address. 

At the underlying level, your SuiNS name is linked to your blockchain address, but all the interaction and operations on the chain happen via your registered name.

SuiNS was first conceptualized and launched in 2022, inspired by the popular 

 (ENS). In many ways, SuiNS and ENS are similar, the obvious difference being that each one applies to its own respective blockchain environment. In May 2023, SuiNS was introduced on the Sui blockchain's newly launched mainnet. The service was developed and is supported by Mysten Labs, the development studio behind the Sui blockchain project. Since the beginning of the Sui blockchain's conceptualization, SuiNS has been among the core projects of the entire Sui ecosystem. As of late November 2024, SuiNS has managed to achieve the remarkable milestone of having registered nearly 330,000 names.

Using SuiNS, you can register your preferred username (as long as it's not been taken) for one year by paying a registration fee, currently charged in SUI coins. The name can be renewed at expiration for up to five years. All interactions with the blockchain environment through your wallet use your preferred username, rather than your blockchain address.

SuiNS names can be between 3 and 63 characters. Users can check the availability of their preferred handle and register it using the 

, where a lookup textbox is prominently displayed. Shorter names cost more than longer handles. As of the time of this writing (Nov 21, 2024), a three-character-long name costs 500 SUI ($1,785) and a four-character name will cost 100 SUI ($357), while names with five or more characters are priced at 20 SUI ($71.40).

A SuiNS name can only be registered for one year, but it can be renewed for up to four years (excluding the initial registration year). There's a 30-day grace period after the expiration of your SuiNS name, during which you may still renew it. If you don't renew during the grace period, your registered name will be up for grabs by anyone on the market. Optionally, you can buy an NFT avatar linked to your SuiNS name.

 (DApp) ecosystem on the Sui blockchain. Developers can use off-chain remote procedure calls (RPCs) to integrate the Sui service into their application environments. They can also take advantage of the native, on-chain SuiNS SDK to interact with the service.

Thanks to SuiNS, you can enjoy short, comprehensible names for your own address, as well as the addresses of the parties with whom you transact (if they also sign up for the service). No more forgettable string combinations that are hard to read and virtually impossible to remember!

However, a SuiNS name isn't just a tool of convenience. It also represents your decentralized identity on-chain. The identity is fully owned by you, the user, rather than by a centralized entity.

SuiNS minimizes the likelihood of lost assets due to sending funds to the wrong address: short, easy-to-remember names are way less prone to incorrectly executed transactions than standard blockchain addresses.

Security is also among the benefits of SuiNS. The service runs on the Sui chain, which prides itself on developing and enforcing high-grade security standards. Among these are 

, a framework that maintains a list of malicious websites and on-chain assets, thus protecting the Sui ecosystem from 

 launched by these known nefarious entities.

The SuiNS service launched its native token, NS, on Nov 14, 2024. Initially, NS is envisioned to support 

 processes on the platform, and will also be used for purchasing and trading SuiNS names. Currently, names are traded using SUI, the blockchain's native cryptocurrency. It's likely that NS will replace SUI in this capacity in the near future. The project team has also hinted that there could be additional uses for the NS token beyond governance and payment for SuiNS names. More announcements on this issue are likely to follow.

During the initial phase of the token's existence, governance will be its most prominent function. Holders of NS will be able to vote on important issues concerning the protocol's rules and future direction. One NS equals one vote, with more NS tokens giving you a greater say in the overall decision-making process. You can also increase your voting power by locking your NS tokens for from one to 12 months. For every additional month locked, you obtain 10% voting power. To encourage voting, 5% of the NS token's supply has been allocated for governance rewards. NS is a 

 token, with a total and maximum supply set at 500 million. The token's supply distribution shares are per the chart below.

NS is available on Bybit's Spot market as a swap pair with USDT (

). You can also take advantage of Bybit's campaign dedicated to the token to grab a share of the 

. Three campaign events for eligible users run through Nov 27, 2024, 8AM UTC:

Thanks to Sui Name Service, interacting on-chain has become easier and more user-friendly. However, easy-to-remember names aren't the only benefit: advantages also include lower likelihood of lost funds, better security and a completely decentralized, user-owned identity on-chain. So far, around 330,000 names have been registered, and with the impressive suite of benefits, expect this number to grow as we move with SuiNS into 2025.

Intermediate

sui name service (suins).png

Sui Name Service (NS): Your On-Chain Identity Made Simple

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

market maker.png

Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Bybit Learn

Blockchain

Altcoins

Explainers

Toncoin (symbol: TON) is the token native to The Open Network (TON), a decentralized Layer 1 blockchain network. Find out more about it in this article.

, or The Open Network, is a unique community-driven 

, TON was created to onboard billions of users and allow for quick, inexpensive and energy-efficient blockchain transactions. All of its features were developed with everyday users in mind.

In addition to offering ultra-fast transactions, tiny fees and easy-to-use apps, The Open Network is known for its flexible architecture and scalability. It is also environmentally friendly. Before you invest in Toncoin, the network’s native token, use this guide to learn more about the history of TON and its uses.

Toncoin (symbol: TON) is the token native to The Open Network (TON), a decentralized 

 blockchain network. Previously known as Gram, Toncoin can be used to pay transaction fees, settle payments or validate transactions using the TON blockchain’s 

Telegram Open Network is an abandoned blockchain developed by Telegram, a cloud-based instant messaging service. After the project was abandoned, it was 

In 2018, Telegram released both a “lite paper” and a white paper for the Telegram Open Network. Originally called Gram, the project was in active development until 2020. During its time in development, TON raised money through private sales of Gram tokens. In April 2018, Gram broke records for the second-largest token sale of all time, raising $1.7 billion. Additional large billion-dollar sales were made to companies around the world after the token gained more publicity.

Gram started getting a lot of attention, which began to create several challenges for the network. There were 

 quickly made an announcement that the company would create an official method of participating in the ICO.

Gram initially attempted to conduct public sales under U.S. jurisdiction, so Telegram had to follow all 

 (Securities and Exchange Commission) regulations. The initial purchase agreement was to provide investors with tokens upon TON’s launch. The goal was to prevent the SEC from viewing Gram tokens as securities. Unfortunately, the SEC saw the initial investors as underwriters, and Telegram’s offering of Gram in exchange was considered an unregistered distribution of securities.

While Telegram fought the SEC, it ultimately lost in court. In May 2020, founder Pavel Durov 

At this point, TON had a dedicated following and the worldwide decentralized community of crypto enthusiasts and developers saw the potential of the blockchain. Because TON was developed as an open-source project and the code was easily 

, community developers could pick up where Telegram left off and build new TON functionality.

Toncoin was initially developed as a Gram alternative, ostensibly not an actual investment in Telegram itself (though, according to 

, this assertion was challenged by at least some Gram investors). Speed was a major problem for blockchain technology. Slow speeds and high transaction fees made it difficult for everyday users to effectively pay with cryptocurrency as they would with Visa or Mastercard. TON was developed with the end user in mind to support millions of 

 have become household names, they aren’t without their problems. High transaction fees, slow transaction speeds and a considerable learning curve make it difficult for people to use cryptocurrency for everyday purchases. For example, 

 to use the Ethereum blockchain fluctuate frequently, and gas fees of over $100 aren’t unheard of, depending on the size of the transaction.

The TON ecosystem was developed to handle the needs of millions of users making everyday transactions. Unlike Bitcoin and Ethereum, which are primarily used by investors, TON focuses on catering to the typical consumer. It’s designed to be integrated into an easy-to-use app, allowing users to quickly buy, send and store coins.

One of TON’s biggest advantages is its flexible architecture. The Open Network was designed to be incredibly efficient and scalable, and boasts ultra-fast transactions due to its cross-shard interactions. By supporting dynamic sharding and workchains, TON can successfully validate and process millions of transactions per second. In other words, TON's flexible architecture lets it grow continuously without any loss of performance.

Blockchain technology has quickly evolved, making it easier to exchange sensitive information in a decentralized environment. TON strives for mainstream adaptation of Toncoin, made possible by its engaged Telegram user base, simple interfaces, incredibly fast speeds and overall scalability.

As the native token of its blockchain, Toncoin has a range of uses on theTON network, including as a form of payment in 

Unlike most other blockchain ecosystems, TON was designed to support billions of users simultaneously by using blockchain sharding, which involves using multiple subnetworks, or 

, on the same blockchain to quickly accomplish tasks. Each shard has its own purpose and works to prevent large backlogs of unverified blocks.

 (PoS) network. Every transaction is validated using Toncoin, which is also used to reward validators. The network also allows nominators to lend their tokens to validators to earn rewards. To lend tokens, a nominator needs to join a pool and stake their assets. Both nominators and validators are managed using 

, adding an additional layer of security.

 bot on the Telegram app. After setting up their wallets and adding 

 to their attachments, users can quickly access their Toncoin in any chat window. They can purchase Toncoin using the same bot, too, and don’t need to pay a transaction fee to send Toncoin using the Telegram app. This allows users to quickly and easily transfer decentralized funds to other users on their contact list.

While users intending to sell cryptocurrencies are subject to a 0.9% commission fee, buyers don’t need to pay any transaction fees. This makes the wallet practical for everyday use.

Several services and applications running on the TON blockchain also accept payment in Toncoin. The TON ecosystem supports the creation of new DApps, which makes it highly adaptable.

Toncoin can also be used to influence how the network develops in the future. The Open Network is a 

 (DAO), so users who hold the blockchain’s native token can cast votes on any proposed changes to the blockchain or ecosystem. This helps promote a sense of community and encourages consistent growth and innovation. TON’s current 

 program utilizes a simple voting system that ensures every user has a chance to make their voice heard.

Toncoin is known for its practicality and heavily focuses on efficiency. The goal is to make using the token as easy as possible for the end user. TON’s development community has also worked hard to add many of the advanced features that set the token apart from other cryptocurrencies.

Proof of stake consensus mechanisms are common on blockchain networks that require validators to complete transactions. This energy-efficient mechanism allows validators to be rewarded based on how large of a stake they hold. Instead of receiving a new block on the blockchain, they’re granted part of the transaction fees.

It’s important to note that TON can no longer be mined using a 

 (PoW) consensus algorithm. In June 2022, the 

, and the total supply can only increase by a small percentage each year. TON’s PoS consensus algorithm keeps the blockchain moving efficiently.

, the on-chain governance platform of the TON blockchain, was launched in February 2023. This platform, developed with Layer 3 blockchain infrastructure by Orbs, represents a significant step forward for the TON ecosystem, as it enables tamperproof voting and allows Toncoin token holders to participate in decision-making for network projects. Following its launch, there was a notable surge in Toncoin's trading activity, reflecting the increased engagement and interest in the network. 

Toncoin is integral to the governance process, with holders using it to vote on various proposals affecting the network. The first major governance action, involving a proposal to freeze tokens in inactive genesis mining wallets, saw considerable support from the community. This initiative underscores TON's commitment to decentralized governance and community-driven development, marking a new chapter in its evolution.

The TON Foundation is actively expanding its ecosystem by 

 to build new DApps. ​​In August 2023, the TON Foundation announced its latest grant recipients, showcasing a range of innovative projects aimed at enriching the TON Community. These include Tali AI, which simplifies the onboarding process for developers through an AI-driven model, and a Ledger app that enhances TON asset management and security. 

Meanwhile, TonUP emerges as a permissionless launchpad to support the growth of ecosystem projects, while Optus DEX aggregator optimizes decentralized trading by pooling liquidity from multiple DEXs. Additionally, 

 gaming experience on the VK Mini Apps platform. These initiatives collectively contribute to a more vibrant and functional TON ecosystem, encouraging participation and development within the community.

Storing information on a blockchain isn’t a new concept, but 

 takes it a step further. It works a lot like Dropbox but offers the benefits of private encryption, using the owner’s wallet’s private key. This adds an extra layer of security to both online private and public storage.

Privacy is always a priority for blockchain users. 

 enables users to access the TON blockchain using decentralized 

-like networks. This allows users to avoid censorship and easily access DApps.

Like many other blockchain ecosystems, TON relies on smart contracts to process on-chain transactions quickly. All smart contracts on the blockchain are executed using their own 

, or TON Virtual Machine. TVM allows for very complex smart contract deployments.

, or TON domain name service, attempts to make cryptocurrency wallets, accounts, smart contracts and other features more user-friendly by providing users with easy-to-remember names that aren’t just strings of numbers and letters.

TON DNS works a lot like a social media handle, and is incorporated into various domain names for easy access. Users can register their domain names and usernames on the blockchain. There are several easy-to-use apps that support TON DNS, including cryptocurrency wallets.

The TON blockchain is home to more than 500 DApps and services that utilize smart contracts. 

 enables developers to create new applications on the blockchain. Users can access these third-party apps with a user-friendly interface. TON also offers a searchable registry of all DApps and services located on the blockchain.

There are several ways to store Toncoin and other digital assets from the TON blockchain, with over 743,000 unique 

 currently completing thousands of transactions per day.

TON offers custodial wallet services, and works with several third-party noncustodial wallets. Custodial wallets are a good choice for users who want simple solutions, while 

 are preferable for users who want more control over their assets.

There are two different TON custodial wallets. Previously, if you wanted to complete transactions through Telegram, you needed to use the @wallet bot. Telegram users 

 @cryptobot to easily store, transfer or exchange Toncoin. However, In September 2023, Telegram officially integrated a TON-based self-custody crypto wallet, known as 

, into its app, a significant move following its earlier plans to develop a web3 ecosystem. 

This integration, showcased at the TOKEN2049 event in Singapore, made the wallet accessible to Telegram's vast global user base of 800 million. The wallet's introduction to Telegram coincided with a 7% increase in the price of Toncoin. TON Space was introduced in Telegram's settings for users outside the U.S. From November 2023, this feature became a default offering for all Telegram users internationally, except in the U.S. This integration into Telegram allows both existing and new users to access their wallets effortlessly within the app, streamlining the process of buying, selling, and trading cryptocurrency to be as straightforward as sending a message. 

The TON Foundation also announced that projects built on TON would receive priority for Telegram Ads. While initially planned in 2019, the integration was delayed due to a lawsuit by the U.S. Securities and Exchange Commission against Telegram's $1.7 billion ICO. This renewed collaboration between Telegram and TON aims to simplify crypto access for users and bolster the web3 infrastructure on the messaging platform.

There are several ways to earn money using the TON blockchain. The simplest way to earn income on the TON network is to become a validator; however, this requires a large amount of Toncoin, a strong connection and advanced hardware. Most users who want to earn passive income using TON become nominators, lending their tokens to validators via a nominator pool.

Nominator pools allow individual users to come together and combine the assets they’re lending to a validator, enabling them to easily collect a reward. Once a reward is granted by the blockchain, it’s distributed evenly among the members of the pool.

TON uses an open-source decentralized staking pool system. Not only does this make cryptocurrency staking easier for the average user, but it also provides smart contract guarantees. The smart contracts ensure that any tokens borrowed by validators are used solely for validation and are accurately distributed.

There is currently over 27 million TON staked by nominators in pools. Finding a nominator pool is a simple process. To get started, visit 

TON validators help to maintain the network by validating transactions. As they validate blocks, they receive Toncoin rewards using the blockchain’s PoS consensus algorithm.

In order to become a TON validator, you need to first obtain a large amount of Toncoin to stake, typically around 300,000 TON. In addition to this investment, you’ll also need a fast internet connection and a system that can easily run MyTonCtrl, the open-source tool used by validators. A

 is available to help you learn more about the requirements, rewards and expectations of validators.

 is a vibrant community within TON, uniting a diverse group of individuals who are passionate about TON’s future. It includes contributors, hub developers and ambassadors, all working together toward a shared vision. Members of the TON Society engage in various events such as contests, hackathons and others, with opportunities to earn rewards like 

. These awards are then showcased in their profiles, highlighting their professional expertise and contributions to the community. 

Among the top contributors are enthusiastic web3 developers and TON advocates, recognized for their numerous awards and active participation in community activities. The TON Society represents a collective of dreamers and innovators from around the globe, dedicated to using advanced technologies for open, decentralized exchanges of value, information and ideas, with a focus on protecting freedom, privacy and rights.

The TON ecosystem is constantly expanding, making Toncoin more versatile. The most common use of the token is as a form of commission payment for processing transactions on the blockchain. Because of the TON network’s sharding feature, the token may also be used for cross-chain transaction fees or as payment for creating new work chains.

The TON network offers a comprehensive ecosystem for users, including a self-custody wallet for managing Toncoin, a feature to buy Toncoin with a card or exchange, and options to stake and accept payments globally. Its ecosystem includes applications, domain services and a bridge for 

 tokens. TON's concept focuses on a decentralized, self-governed blockchain 

 outlining its past developments and future goals. 

For developers, TON provides resources such as documentation, a developer community 

. Its platform supports various use cases, including mini-apps, 

The TON Society encourages active participation with rewards, while the TON Foundation oversees the network’s growth. TON’s road map highlights the progression from its initial development by the Telegram team, its legal challenges with the SEC and its transformation into a stable and secure blockchain managed by the TON Foundation. Upcoming projects include further enhancements and new functionalities such as TON Teleport, TON Browser, and Wallet 5.0.

As mentioned previously, TON blockchain launched its on-chain governance platform, TON VOTE, in February 2023, and officially integrated a TON-based self-custody crypto wallet into Telegram in September 2023 for existing users. It then extended accessibility to all existing and new users in November 2023.

On Oct 31, 2023, the TON blockchain achieved a 

 by setting a world record for speed and scalability during a public test, reaching an unprecedented 104,715 transactions per second. This remarkable performance, which was audited by CertiK, demonstrated TON's unique architecture, which allows for infinite scaling to handle millions of transactions from billions of users. 

The test utilized a "bomb" smart contract on a separate TON network, created using 256 servers rented from Alibaba Cloud, which exponentially increased the load on the network. This test confirmed TON's dynamic sharding capability, whereby the network can split into shardchains under heavy loads and merge back when the load decreases. The achievement not only sets TON apart in the blockchain space, but also shows its potential to handle significantly higher transaction volumes in the future.

On Nov 28, 2023, Animoca Brands became the 

 of TON blockchain, marking a significant development in its commitment to the GameFi sector. This collaboration involves financial investment, analytics and research into the TON ecosystem, focusing particularly on the integration of blockchain-based gaming into Telegram's vast user base. Animoca's support extends to TON Play, a gaming infrastructure project on the TON blockchain, and explores porting games from its extensive web3 project portfolio to Telegram. This partnership is part of Animoca's broader strategy to foster the transition from Web 2.0 to web3 and to capitalize on the potential of gaming within the TON ecosystem.

On Dec 14, 2023, the TON blockchain announced on its 

 and X (formerly Twitter) that Ledger hardware wallets have added support for Toncoin, integrating Toncoin into Ledger and enhancing security for Toncoin users. This development is significant in terms of market credibility and has resulted in a positive response from the market, as evidenced by an increase in Toncoin's price following the announcement​​.

Because the network is open-source, the developer community can make constant advancements. Active developers can connect via the 

 on Telegram, or learn about the team’s latest projects on GitHub.

While TON no longer uses a PoW algorithm for mining, new tokens can still be created. The supply of tokens in January 2024 was 5,100,064,799. According to

, there’s a 0.6% annual inflation rate.

The use of TON is growing as more accounts open on the network. As of January 2024, there are 4,247,450 accounts — and new users are joining the network every day. The 

 states this is a 147% increase in new accounts over the past six months.

In November 2021, there was a large spike in Toncoin’s price as it jumped from below $1 to an all-time high of $5.29. Throughout 2021 to 2023, the token’s price fluctuated between $1 and $2.70, with numerous peaks due to partnership announcements and ecosystem developments. Its current price as of this writing (Jan 5, 2024) is $2.14.

Most TON price predictions tend to be fairly optimistic, expecting its price to grow over time as the network becomes more involved with NFTs and DApps. Experts at PricePrediction 

, believing prices could reach $5.14 by 2025 and $34.71 by 2030. Analysts at DigitalCoinPrice 

, however, with TON prices approaching $5.76 in 2025 and $16.51 in 2030.

If you’re interested in purchasing TON, you can do so on Bybit, a reliable and secure crypto exchange. Simply 

, fund your account with cryptocurrency and start trading the 

Because of the hiccups during Toncoin’s ICO, some investors may see the token as a slightly riskier investment. While all cryptocurrencies have some risks associated with them, TON had unique challenges it needed to overcome.

In terms of practicality, Toncoin serves its purpose and is still evolving. There are millions of users engaging with the coin on a daily basis, active developers working toward improving the blockchain, and dedicated validators and nominators keeping the PoS blockchain working. Furthermore, its self-custody wallet’s integration with Telegram also enables Toncoin to be more widely adopted by the mass market, considering Telegram’s extensive user base of 800 million. 

It’s also important to note that TON values security. While TON offers several features to make the network and its features more accessible, such as TON DNS and TON Proxy, it actively works to promote the safety and integrity of each transaction. For example, TON offers a security bug bounty to anyone who finds vulnerabilities in the blockchain.

TON has a lot of support from its community and should continue to grow over the next few years. While blockchain technology is constantly evolving, Toncoin could become a practical way for people everywhere to transfer funds to one another. Previously, there were only 200,000 

 in January 2022, and this number quickly grew to over 700,000 by October 2022. Now, the number has hit close to 1.1 million, proving that more people are creating a wallet on the TON blockchain and that mass adoption of Toncoin could become a reality in the near future.

TON also continues to be ahead of other Layer 1 blockchains in terms of transaction speed and versatility. In addition to having a fast block validation time, the blockchain offers several advanced features that promote scalability, such as sharding support.

Toncoin (TON): A Scalable & Shardable Layer 1 Blockchain

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards