On October 11, the Open Network Foundation (TON Foundation) declared its intent to compete for the title of “world’s fastest blockchain” in a Guinness World Records-recognized challenge. The performance assessment of the public network is scheduled for October 31, 2023, at 15:00 UTC, aiming to gauge the blockchain’s robustness, scalability, and speed metrics.
Showcasing its phenomenal growth trajectory, the TON blockchain has witnessed a meteoric rise since 2022. Its user base has grown from a modest 170,000 to a whopping 3.5 million addresses, marking an approximately 20-fold increase. Accompanying this surge is the escalation in TON validator nodes, now numbering 350, enhancing the network’s decentralization across over 25 nations.
Amidst its swift expansion, the TON blockchain has maintained an impressive record of stability. There have been no major reported disruptions, highlighting TON’s resilience and scalability prowess. As it prepares to contest for the fastest blockchain accolade, the TON blockchain is undoubtedly a formidable player in the blockchain arena, with many keenly anticipating the competition’s outcome.
TON Foundation Partners with Alibaba Cloud for High-Stakes TON Blockchain Performance Test
The TON Foundation has collaborated with Alibaba Cloud and other partners to roll out a specialized TON blockchain network aimed exclusively at performance assessment. This evaluation will incorporate 256 validator node servers. For enthusiasts and those keen to observe the procedure in real-time, a live stream of the testing event will be available on live.ton.org.
However, the TON Foundation emphasizes that this broadcast is primarily educational. They urge viewers to refrain from making any investment or financial decisions solely based on the test’s results.
Anatoly Makosov, the Core Development Lead at the TON Foundation, stated: (Please provide the continuation or specific quote from Anatoly Makosov for completion.)
“We eagerly anticipate October 31, 2023, as an opportunity to substantiate the TON blockchain’s technical superiority over other blockchains, especially its scalability prowess. This marks the inaugural large-scale public performance evaluation of TON, and our anticipation mirrors that of the community awaiting the outcomes,” expressed Anatoly Makosov.
Both the TON Foundation and Alibaba Cloud regard this impending performance test as pivotal. It underscores the distinct attributes of the TON blockchain, which operates as a reliable foundational layer for the Web3 ecosystem integrated within Telegram.
TON Foundation Partners with Telegram and MEXC to Bring Decentralization to the Masses
In a recent development, the TON Foundation bolstered its services by intertwining with Telegram to launch a self-custodial cryptocurrency wallet dubbed “TON Space.” With Telegram boasting over 800 million monthly active users, this new feature is positioned to cater to a massive audience. Users can conveniently access this wallet via Telegram’s settings.
In line with this introduction, Telegram is granting preferential access to its global advertising platform, Telegram Ads, exclusively for TON projects and associated partners. This move has been affirmed by the TON Foundation.
Additionally, a notable investment came from MEXC Ventures, a branch of the renowned cryptocurrency exchange, MEXC. They have invested significantly in The Open Network, tagging it as their most substantial funding initiative directed towards a Layer-1 platform. Accompanying this financial commitment is a strategic collaboration forged with the TON Foundation.
As part of this strategic alliance, MEXC crypto exchange has pledged to offer marketing and promotional backing for TON-centric projects that secure a listing on its platform. In addition to this, MEXC envisions the launch of a TON collateral lending service and has also decided to forgo any trading fees linked to the TON token.
Justin Hyun, who serves as the Director of Growth at the TON Foundation, manifested his excitement regarding their collaboration with MEXC. He emphasized their shared vision of amplifying global access to Telegram’s decentralized Web3 ecosystem.
These collaborative efforts underscore the TON Foundation’s unwavering dedication to propelling decentralized technology into the limelight and making it accessible to a broader audience.