Introduction
Indeed, Toncoin has emerged as an integral part of the Telegram Open Network (TON). As TON’s native cryptocurrency, Toncoin plays a crucial role in network operations, transactions, games, and collectibles built on TON, surely.
In this comprehensive guide, I will explore the various use cases and benefits of Toncoin, also.
Then, shedding light on its history, acquisition methods, and its potential to unlock freedom through decentralized finance.
Let’s start it!
The Evolution of Toncoin
Toncoin has come a long way since its inception. Without a doubt, by understanding its journey provides valuable insights into its significance within the TON ecosystem. Let’s take further a closer look at the key milestones in Toncoin’s development.
Testnet2 Launch and Initial Distribution
Firstly, in November 2019, the Telegram Open Network testnet2 was launched, marking a significant step towards realizing the potential of Toncoin.
During this phase, 5 billion Toncoins were minted, with a small fraction (1.45%) distributed to developers and testers.
Then, this initial distribution laid the foundation for the subsequent growth and adoption of Toncoin.
Regulatory Challenges
Secondly, in May 2020, the Securities and Exchange Commission (SEC) prohibited Telegram from issuing Grams. In fact, the original intended cryptocurrency of TON, to investors.
As a result, Telegram ceased its work on the TON ecosystem. However, the testnet2 tokens were not abandoned.
Instead, they were placed into 20 Proof of Work Giver smart contracts, ensuring their continued utilization within the network.
Testnet2 Promotion to Mainnet
One year later, in May 2021, the TON community, through a majority vote, decided to promote testnet2 to mainnet status.
Consequently, this promotion solidified Toncoin’s position as the native cryptocurrency of TON and marked a significant milestone in the development of the network.
Coins continued to be distributed through Proof of Work Giver contracts, then fostering the growth and decentralization of the ecosystem.
Strengthening Stability and Security
Thirdly, after the initial distribution of coins, TON entered a new stage in June 2022.
This phase focused on increasing the number of validators and coins involved in the validation process, so effectively strengthening the stability and security of the network. Toncoin’s transition to a Proof-of-Stake network further enhanced its efficiency and resilience.
Acquiring Toncoin
Now that we have explored the historical background of Toncoin, let’s delve into the practical aspects of acquiring this native cryptocurrency of TON. There are several options available for obtaining Toncoin, but each with its own advantages and considerations.
Exchanges
One of the most common methods to acquire Toncoin is through exchanges, indeed. These platforms provide a convenient and secure way to purchase Toncoin using other cryptocurrencies or fiat currencies, in fact.
By leveraging exchanges, individuals can easily enter the TON ecosystem and start benefiting from the various use cases and opportunities Toncoin offers, but…
Wallets
For those who prefer a more direct approach, Toncoin can also be purchased directly within compatible wallets. This method eliminates the need for intermediaries and allows for a seamless and streamlined experience, surely.
By integrating Toncoin purchasing functionality within wallets, users can access Toncoin with ease and convenience.
Exploring Toncoin’s Potential
Especially, Toncoin opens up a whole new world of possibilities through its integration into games, apps, and services built on the TON ecosystem.
Let’s explore some of these exciting use cases, in reality.
Toncoin in Gaming
Toncoin enables developers to create captivating decentralized games that can reach millions of Telegram users, surely. By leveraging the ultra-fast blockchain and also the massive audience of Telegram, developers can unlock new opportunities for monetization, user engagement, and global reach.
Toncoin’s integration into gaming ecosystems on TON creates also seamless experience for players. Then, empowers developers to tap into the potential of decentralized finance within the gaming industry.
Toncoin in Apps and Services
Toncoin serves as a convenient and efficient means of payment within apps and services built on the TON platform.
Whether it’s processing fees for smart contracts, payment services provided by apps, or contributing to network security via staking, Toncoin streamlines transactions and enables frictionless interactions.
With low fees and worldwide acceptance, Toncoin empowers individuals and businesses to transact seamlessly and securely.
Just look at the token usability above. Want to pay with a token for smart contract transactions, surely?
Maybe you are considering staking or also transacting between other blockchains?
Toncoin offers such options, indeed. So, why not take advantage of them.
Toncoin Ecosystem
The Toncoin cryptocurrency ecosystem already has many different projects, as a matter of fact.
Don’t be fooled that there are no interesting projects there, indeed.
I think the best way to illustrate what I mean is through graphics. Look below.
In fact, the ecosystem includes projects in the categories of staking, digital wallets, gaming, data analysis and social media.
The designs are also diverse. The ecosystem is constantly growing.
I must admit that I am curious how much it will develop.
By the way, the Toncoin ecosystem contains 19 coins, also. Furthermore, their total market capitalization of $7.41B and an average price change of +1.01%. They are listed in size by market capitalization.
The most important thing is to remember the most important token. Of course, it is Toncoin.
The rest of the available tokens are ecosystem project tokens.
It is easy to notice that trading in these tokens is still in its infancy.
Maybe it’s worth taking an interest in one of these tokens?
Toncoin Best Projects
The truth is that it is difficult to identify the best projects.
Anyway, I decided to face the problem and present interesting projects.
Of course, I mean my own opinion here. You can always disagree with me. Anyway, here we go…
I won’t describe all the most interesting projects because there are too many of them.
Firstly, I mention DeDust.io – as an AMM DEX based on Toncoin, and then I will tell you about TonStake.
I don’t think I need to describe the functionality of this second project.
Next I will talk about Tonstarter. Tonstarter is the first launchpad based on The Open Network, enabling teams to raise capital through public and private token sales and product incubation in a decentralized, secure and easy-to-use environment.
Finally, I will mention the PTON project. Alternative Staking. pTON.fi – Lido protocol on the TON network. A good example of alternative staking is Lido Finance on the Ethereum network.
I limited myself to only these four very intriguing projects. Let’s dig even deeper by yourself. I encourage you and myself to do it.
Decentralized Finance with Toncoin
Toncoin’s integration into the TON ecosystem unlocks the potential of decentralized finance (DeFi), indeed. Overall, offering individuals and businesses a wide range of opportunities.
Let’s explore further how Toncoin contributes to the decentralized finance landscape.
Nominator Pools
Toncoin plays a vital role in network security through the concept of nominator pools.
By staking Toncoin, individuals can contribute to the network’s stability and security, making it more resilient against potential attacks.
This decentralized approach to network security ensures the integrity of the TON ecosystem, fostering trust and reliability.
Decentralized Exchanges
Toncoin’s integration into decentralized exchanges (DEX) allows users to swap currencies effortlessly.
Whether it’s exchanging Toncoin for other cryptocurrencies or vice versa, DEX provides a decentralized and secure environment for seamless transactions.
By leveraging the power of Toncoin and DEX, users can tap into the vast potential of the cryptocurrency market.
Cross-Chain Transfers
Toncoin facilitates cross-chain transfers, enabling users to move their tokens from Ethereum to TON seamlessly.
This interoperability between blockchains opens up new horizons for users, allowing them to leverage the unique features and possibilities offered by both Ethereum and TON.
Toncoin acts as a bridge, connecting these two vibrant ecosystems and enabling users to tap into the benefits of both platforms.
Toncoin Price in Depth
1st Bull Market
There is very little that can be written about the first bull market.
3 months of bull market ended with an 8-fold price increase.
Start at around 0.78 cents per unit.
At its peak, the price reaches 5.20 per unit. And it’s time for a bear market.
Bear Market
However, the bear market could be said to have lasted almost 6 months.
This is when you can see the lowest price. This price is 0.81 cents per unit. A little higher than the starting price of the cryptocurrency listing.
Immediately after reaching the peaks in the last stage of the bull market, the price dropped and then returned to the price almost at the peak.
All this within a month.
To be more precise, before the end of 2021. 2022 is a year without any surprise, the price regularly drops and reaches the bottom with losses of around 80%.
What is worth emphasizing is that such declines in the case of cryptocurrencies can only be observed in the case of Bitcoin and Ethereum. Well, maybe we could find something else.
2nd Bull Market
The second bull market can be defined from the moment the price bottom is reached in June 2022.
Of course, technical analysts will argue that the price was in a sideways trend.
Well, it was like that until August 2022. But is it?
Since it increased from the trough to the lowest price in August by 50%. Is this a sideways trend?
Price corrections and lower demand almost always happen. So think what you like, reader, but…
In my opinion, a 50% price increase in a year is a bull market.
Of course not mine. Either way, from August 2023, the price will maintain its upward trend.
Stronger and easier to notice by analysts. At least that’s what it seems to me.
Effortless Payments
With Toncoin, accepting payments worldwide has never been easier.
Whether you’re a business owner or an individual, Toncoin offers a low-fee and direct method to accept payments.
By integrating Toncoin into your payment infrastructure, you can cater to a global audience. Overall you can enjoy the benefits of fast, secure, and borderless transactions.
The Future of Toncoin
Toncoin is constantly evolving, and its future holds immense potential. Let’s explore the various avenues for development, growth, and support within the Toncoin ecosystem:
Developers Center
The Toncoin Developers Center provides a comprehensive resource hub for developers looking to build on the TON platform. With quick-start guides, deep dive tutorials, and extensive documentation, developers can accelerate their growth and innovation within the Toncoin ecosystem.
The Developers Center serves as a catalyst for the creation of groundbreaking applications and services. Further expanding the possibilities of Toncoin.
Ton Grants & Bounties
Ton Grants & Bounties program plays a crucial role in supporting core ecosystem projects.
There is financial support to projects that contribute to the growth of Toncoin and ecosystem.
Ton Grants & Bounties foster innovation and drive the evolution of the platform.
This support ensures that Toncoin continues to thrive and remains at the forefront of the cryptocurrency landscape.
Conclusion
in fact, Toncoin empowers individuals and businesses to unlock the potential of decentralized finance.
Toncoin offers a myriad of opportunities for developers and users alike indeed. I mantion only integration into games, apps, and services, but there are more of it.
Its history, acquisition methods, and integration into the TON ecosystem provide a solid foundation for growth and innovation, also.
Without a doubt, by harnessing the power of Toncoin, individuals can embrace the future of finance and be part of a decentralized revolution.
