Toncoin (TON)

Network Operations

Toncoin is used to pay for operations on the TON blockchain, such as transactions and running decentralized applications.

Transactions

It serves as a currency for sending and receiving payments worldwide with low fees.

Governance

Toncoin holders participate in TON’s on-chain governance, helping to make decisions about the network.

Security

Toncoin is used by validators as stakes to maintain and secure the blockchain.

Services and Features

Toncoin is used to pay for services like blockchain-based domain names (DNS), TON Proxy, and decentralized data storage.

Gaming and Collectibles

It is used in games and for buying digital collectibles built on the TON platform.

Integration with Telegram

Toncoin is used for payments and monetization within Telegram, including ad revenue sharing with channel owners.

Advantages

Toncoin is fast and scalable, allowing many transactions per second. It has low fees, making it affordable to use. The network is designed to be decentralized and secure. Toncoin supports smart contracts, enabling various applications. It is backed by a strong community and has partnerships that help its growth.

Disadvantages

Toncoin is still growing, so it may have less adoption compared to bigger cryptocurrencies. Its technology can be complex for beginners. Market value can be volatile, which is common in crypto tokens. Some features are still under development, so full potential is yet to be realized.

Founders

Toncoin was originally created by the brothers Nikolai and Pavel Durov, who are also the founders of the Telegram messaging app.

Background

They started the project in 2018 as the Telegram Open Network (TON) to build a fast and scalable blockchain integrated with Telegram.

Evolution

After legal challenges, Telegram stepped back, and the open-source community took over development, continuing the vision behind Toncoin.

Major Investors

Toncoin is backed by well-known investors including Runa Capital, RTP Global, DWF Labs, Mask Network, Mexc Ventures, and Animoca Brands.

Investment Funds

TONcoin.Fund is a $250 million ecosystem fund that invests in projects building on The Open Network, supporting teams from early stages to fundraising rounds.

Venture Capital

Pantera Capital has made significant investments in Toncoin, including one of its largest-ever deals.

Community and Ecosystem Support

The TON community fund raises money from investors and distributes rewards to users who lock their tokens, encouraging network growth and participation.

Halal Status of Toncoin

• Yes, Toncoin can be considered halal by some scholars because it is a digital asset used for transactions and does not inherently involve interest (riba) or gambling (maisir).
• However, interpretations may vary depending on individual beliefs and how Toncoin is used in practice.