We’re excited to announce the listing of Toincoin (TON), the native cryptocurrency of The Open Network (Also TON), on Bitso! As one of the most innovative and scalable blockchain platforms, The Open Network leverages its seamless integration with Telegram, advanced sharding technology, and low transaction costs to bring blockchain to the masses. Whether you’re a developer, a business, or an everyday user, TON’s blockchain provides the infrastructure for decentralized applications, payments, and more—powered by its native cryptocurrency, Toncoin.
What are Toncoin and The Open Network?
Toncoin (TON) is the native coin of The Open Network, a decentralized Layer 1 blockchain initially developed by Telegram and now maintained by an open-source community. Through its compatibility with Telegram, The Open Network brings blockchain technology to over 950 million users, making it one of the most accessible platforms for both developers and users. While Telegram supports TON’s ecosystem, it does not directly develop or control the blockchain.
TON’s architecture is designed to enable high scalability through dynamic sharding. It currently processes around 45 TPS, while in September 2024, it was processing around 200 TPS. Its low fees (fractions of a cent) make it ideal for payments, DeFi, gaming, and NFT applications. By connecting directly with Telegram, TON ensures a seamless experience for both seasoned blockchain users and newcomers.
TON isn’t just a token—it’s your gateway to a thriving blockchain ecosystem designed for mass adoption.
Three Key Aspects of The Open Network (TON)
- Telegram-Integrated Blockchain
TON’s direct connection to Telegram provides unparalleled access to one of the largest social platforms in the world. This integration simplifies blockchain adoption, making it easier for millions of users to interact with digital assets, offering a ready market for developers and businesses to deploy their applications. - High Scalability and Low Costs
TON’s innovative sharding technology enables fast and scalable transactions, while keeping fees significantly lower than on traditional blockchain networks. This makes it a strong and efficient alternative for payments, DeFi, and decentralized apps. - Expanding Ecosystem and Community
TON boasts an expanding ecosystem that includes wallets, MiniApps, DeFi platforms, and games. Its active community spans Telegram, GitHub, and social media, fostering ongoing innovation and adoption. TON’s position amongst the top 15 cryptocurrencies by market capitalization on CoinMarketCap highlights its increasing relevance in the crypto universe.
A Practical Example of Toncoin (TON)
Sending Money Internationally with TON via Telegram
Imagine a freelancer in Mexico working for a client in the United States. Instead of using traditional, slow, and expensive payment methods, they can settle the payment using TON directly within Telegram:
- Setup: Both parties install a TON wallet within Telegram.
- Payment: The client selects the amount in $TON, clicks send, and the freelancer receives it instantly.
- Cost and Speed: The transaction is confirmed almost instantly and at a fraction of the cost of traditional methods.
- Next Steps: The freelancer can hold $TON in their wallet, use it within TON’s ecosystem, or trade it for their local currency on Bitso.
This is just one example of how TON makes blockchain-based payments fast, efficient, and accessible for everyday users.
How to Get Started with Toncoin (TON) on Bitso
- Create a Bitso Account
Sign up on Bitso and complete the verification process to start trading TON. - Fund Your Wallet
Deposit your local currency or other cryptocurrencies into your Bitso wallet. - Buy TON
Go to the Buy/sell section in your Bitso app, find the TON trading pair in the Bitso app, place your order, and join the TON ecosystem.
With TON listed on its native blockchain, transactions are seamless, fast, and efficient, providing users with direct access to its ecosystem.
Disclaimer
This blog post is for informational purposes only and does not constitute financial advice. While TON offers unique features and opportunities, it’s essential to conduct your own research (DYOR) and evaluate the risks before trading. Bitso encourages responsible trading and transparency in all investment decisions.
