Toncoin
Crypto Overview
Understanding TON (The Open Network)
TON is a fully decentralized layer-1 blockchain designed by Telegram founders Pavel and Nikolai Durov. Originally developed as Telegram's blockchain platform but later separated due to SEC intervention, TON was transferred to The Open Network community in 2020.
Intended Utility
TON aims to serve as a fast, scalable blockchain platform for mass adoption, focusing on: decentralized storage (TON Storage), anonymous networking (TON Proxy), DNS services (TON DNS), and micropayments (TON Payments). The TON coin serves as the native currency for network operations, gas fees, and validator staking.
Actual Implementation and Usage
The network demonstrates significant real-world adoption with over 907,000 active wallets and processes around 462,000 daily transactions (as of December 2023). Major developments include TON Space wallet, integration with Telegram for payments (@wallet bot), and numerous dApps.
Token Distribution and Governance
Initial token distribution was relatively fair through mining and community participation. No pre-mine was allocated to founders after the SEC settlement. Current circulating supply is approximately 3.45 billion TON. Validators must stake TON to participate in network consensus.
Development Activity
The project shows robust development activity with regular GitHub commits, an active developer community, and continuous protocol improvements. The TON Foundation provides grants for ecosystem development and maintains transparency in operations.
Revenue Model
The network generates revenue through transaction fees and validator operations, avoiding interest-based mechanisms. The economic model focuses on utility-driven value rather than speculative instruments.
Crypto Impact
To assign a comfort level investing in Toncoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Toncoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.