The Open Network (TON) Foundation, in partnership with Alibaba Cloud, announced its plans to conduct a performance testing event for the TON blockchain on October 31, 2023. This event aims to establish the TON blockchain as the world’s fastest blockchain recognized by the Guinness World Records. The TON blockchain has experienced significant growth, witnessing a substantial increase in addresses and expanding its validator nodes, leading to a more decentralized network. The upcoming performance test is viewed as a pivotal step in showcasing the unique capabilities of the TON blockchain, specifically its scalability.

Anatoly Makosov, the Core Development Lead at the TON Foundation, expressed anticipation for the performance testing event. Makosov highlighted the TON blockchain’s technical superiority, particularly in terms of scalability. He emphasized the excitement around witnessing significant results and validating the blockchain’s technical prowess through this first large-scale public performance testing event. The TON Foundation is looking forward to confirming the TON blockchain’s standing among other blockchains, especially in its ability to scale.

MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, announced a significant investment in The Open Network. This investment marks MEXC’s largest Layer-1 funding and is accompanied by a partnership with the TON Foundation. Justin Hyun, Director of Growth at the TON Foundation, expressed enthusiasm about the partnership, emphasizing their shared goal of providing global access to the decentralized Web3 ecosystem within Telegram. The foundation strives to deliver a user-centric experience for the community, and MEXC’s support significantly strengthens its ability to develop new tools and services integrating crypto with social media.

The collaboration between the Open Network Foundation, Alibaba Cloud, and MEXC Ventures highlights the increasing recognition and adoption of blockchain technology, particularly in the Web3 space. These partnerships aim to enhance the functionality, scalability, and accessibility of the TON blockchain while promoting global adoption and innovation within the decentralized ecosystem. The support and investment from Alibaba Cloud and MEXC Ventures demonstrate their belief in the potential of the TON blockchain for building a Web3 super-app ecosystem on Telegram.

At the time of writing, the native token of the TON protocol, Toncoin, is trading at $2,006, reflecting a marginal decline of 0.2% over the past 24 hours. However, it is important to note that the token has experienced substantial growth year to date, boasting an impressive increase of 59% during this timeframe. This performance indicates the market’s positive reception and confidence in the TON blockchain and its future potential.

The Open Network (TON) Foundation’s collaboration with Alibaba Cloud and the investment from MEXC Ventures for the performance testing of the TON blockchain showcases the ongoing advancements and innovation in the Web3 ecosystem. The upcoming performance testing event on October 31, 2023, will undoubtedly shed light on the unique capabilities of the TON blockchain, specifically its scalability. The support from industry leaders further strengthens the TON ecosystem’s growth and sets the stage for its future development in the decentralized landscape.

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