The Open Network Foundation (TON Foundation) recently made an exciting announcement of its participation in a Guinness World Records-approved competition. This competition aims to establish the TON blockchain as the “world’s fastest blockchain.” Scheduled for October 31, 2023, at 15:00 UTC, the public network performance test will rigorously assess the blockchain network’s reliability, scalability, and speed.
Exponential Growth and Decentralization
Since 2022, the TON blockchain has experienced remarkable growth, attracting a user base that has skyrocketed by 20-fold, from 170,000 addresses to an impressive 3.5 million. Concurrently, the number of TON validator nodes has grown to 350, contributing to a more decentralized network spanning over 25 countries. The TON blockchain’s robustness and scalability are evident as it has not encountered any major network disruptions to date.
As the TON blockchain continues to evolve in its bid for the fastest blockchain title, it remains a compelling force in the blockchain space. With its reliable track record and exponential growth, the global blockchain community eagerly anticipates the results of the upcoming performance test.
To prepare for the performance test, the TON Foundation has partnered with Alibaba Cloud and other organizations to launch a dedicated TON blockchain network. This network will be exclusively used for performance testing and will involve 256 validator node servers. The test event will be live-streamed on live.ton.org for educational purposes, but viewers are advised not to make any financial decisions based on the outcome.
The TON Blockchain’s Unique Capabilities
Both the TON Foundation and Alibaba Cloud recognize the importance of the performance test in showcasing the unique capabilities of the TON blockchain. Serving as a trusted infrastructure layer for the Web3 ecosystem within Telegram, the TON blockchain recently integrated Telegram to introduce a self-custodial crypto wallet called “TON Space.” With over 800 million monthly active users, Telegram’s integration enhances the blockchain’s reach and usability. In conjunction with this launch, TON projects and partners receive priority access on Telegram Ads, Telegram’s global advertising platform.
In a significant milestone, MEXC Ventures, a subsidiary of global cryptocurrency exchange MEXC, made a substantial investment into The Open Network. This investment showcases MEXC’s commitment to further the capabilities of Layer-1 blockchain technology. Through their strategic partnership, MEXC will provide marketing services and promotional support for TON-based projects listed on its platform. The crypto exchange also plans to introduce a TON collateral lending service and waive trading fees associated with the TON token.
Facilitating Global Access
Justin Hyun, the Director of Growth at the TON Foundation, expressed enthusiasm about the partnership with MEXC, emphasizing their shared vision of facilitating global access to the decentralized Web3 ecosystem within Telegram. Through strategic collaborations and partnerships, the TON Foundation demonstrates its commitment to bringing decentralized technology to mainstream users.
With its exponential growth, commitment to reliability, and unique capabilities, the TON blockchain stands out as a force to be reckoned with in the blockchain space. As it vies for the title of the world’s fastest blockchain, the upcoming performance test will undoubtedly be a pivotal moment in establishing its position. The TON Foundation’s collaborations and partnerships further strengthen its position and highlight its dedication to bringing decentralized technology to the forefront.
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