Exchange Toncoin

Toncoin is a decentralized, layer-1 encrypted messaging platform and full-fledged ecosystem powered by blockchain technology. It provides a safe and secure way for users to communicate with each other without the need for third-party intermediaries. Toncoin also has its own domain name system (DNS), which allows users to connect directly to websites and services within the network without having to remember long addresses. The project is community-driven, with developers from all over the world working together to contribute towards its growth and development.

The project was launched in 2018 by the Telegram development team, initially led by two brothers Nikolai and Pavel Durov. Telegram was planning to launch an on-chain token called Gram and establish a platform for building and deploying decentralized applications. Toncoin's main aim is to provide users with a secure and private way to communicate with each other without having to rely on centralized platforms like WhatsApp or Facebook Messenger.

One of the key features that sets TonChain apart from other blockchains is its focus on scalability. The team behind the project has developed a unique consensus algorithm called "Proof of Stake Voting" which allows for high throughput while maintaining decentralization. This makes it ideal for applications that require high volumes of transactions such as messaging platforms or payment systems.

Tonchain has a multi-level structure designed on the principles of sharding and segmentation. The network consists of master, work, and shard chains. It allows using multiple subnets (shards) with each shard having a specific purpose, so the network doesn’t accumulate unverified blocks and can process the tasks faster. 

The project is created as an open-source, allowing anyone to participate in the development of the network. In 2020, the Toncoin team announced that they are working on integrating Lightning Network support into the platform in order to further improve its scalability and speed.

Since its launch, the Toncoin crypto project has seen significant growth. By June 2019, the network had over 1 million registered users on the platform and this number kept growing rapidly. In addition to individuals, businesses are also beginning to use Tonchain for various purposes such as supply chain management and cross-border payments.

Gram was getting a lot of attention, which caused the US Securities and Exchange Commission to prohibit its development as Gram was considered a security and its issuance was banned. After that, the development of the project was abandoned and later picked up by the TON Foundation and renamed from the “Telegram Open Network” to “The Open Network”. 

The project utilizes a Proof-of-Stake consensus mechanism for scalability and reliability. It offers a fast processing/transaction validation. In 2021 the network participated in the contest where it performed a world record of 55000 transactions per second. It means the Toncoin network allows projects to build on it without performance loses. 

Smart contracts on the Toncoin network are similar to those on Ethereum in that they are Turing-complete and can be used to encode any type of logic or functionality. However, there are some key differences between the two platforms. Smart contracts on the Toncoin network are used to manage nominators and validators, making the platform even more secure. 

Toncoin previously known as Gram is the native cryptocurrency of the Toncoin network. TON token has a total supply of 5 billion coins. The token fuels the networks and thus can be used to create decentralized applications, act as a transaction processing fee, and a staking token, with the rewards, also paid in TON. The coin also needed to pay for decentralized data storage, TON DNS, TON Proxy, and other decentralized services of the platform. 

Average Fees on the Toncoin Network 

Toncoin network offers one of the lowest transaction fees making it an attractive option for businesses and developers. The average fees on the Toncoin network are around ~0.005 TON. 

Users that sell the crypto on the Toncoin network are subject to the 0,9% transaction fee, while buyers don’t need to pay any fee. 

TON Coin Wallets 

The TON network offers its own native TON wallet, designed to transfer funds and interact with platform services. Users can choose between custodial and non-custodial wallets. 

The TON token is also supported by many popular crypto wallets and exchange platforms, including Coinbase, Binance, MetaMask, TokenPocket, Match Wallet, Trust Wallet, Brave Wallet, Coinhub, Omni Wallet, Phantom, Torus, etc.