The Open Network (TON) Foundation, in collaboration with Alibaba Cloud, has made an exciting announcement. They plan to set up 256 servers for a performance testing event on October 31, 2023, with the aim of officially establishing the TON blockchain as the world’s fastest blockchain to earn accreditation from the Guinness World Records. This article explores the growth and success of the TON blockchain, the upcoming performance testing event, and the partnerships that are propelling its development.
According to Yahoo Finance, the TON blockchain has witnessed remarkable growth since 2022. The number of addresses on the network has increased twenty-fold, soaring from 170,000 to an impressive 3.5 million. Additionally, the network has expanded its validator nodes to 350, creating a more decentralized network that spans across 25 nations. Throughout this expansion, the TON blockchain has maintained a strong track record with no major network disruptions reported.
The upcoming performance testing event holds significant importance for the TON blockchain and its stakeholders. As the Core Development Lead at the TON Foundation, Anatoly Makosov expressed great anticipation for the event. Makosov highlighted the TON blockchain’s technical superiority, particularly in scalability. He emphasized that this large-scale public performance testing is an exciting opportunity to witness significant results and validate the blockchain’s technical prowess. Makosov’s words reflect the level of enthusiasm surrounding the event.
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, has made a substantial 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 this partnership and stressed their shared goal of offering global access to the decentralized Web3 ecosystem within Telegram. The foundation is committed to providing a user-centric experience for the community, and MEXC’s support significantly strengthens their ability to develop new tools and services that seamlessly integrate crypto with social media.
Steve Yun, President of the TON Foundation, expressed belief in the TON blockchain’s potential for building a Web3 super-app ecosystem on Telegram. This sentiment highlights the shared vision between the foundation and MEXC Ventures as they prepare for the next market cycle. The collaboration between the Open Network Foundation, Alibaba Cloud, and MEXC Ventures demonstrates the increasing recognition and adoption of blockchain technology, especially 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.
At the time of writing, the native token of the TON blockchain, 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 Toncoin has experienced substantial growth year to date, boasting an impressive increase of 59% during this timeframe. These figures demonstrate the market’s confidence in the TON blockchain and its potential for further growth in the future.
The TON blockchain, in partnership with Alibaba Cloud and supported by MEXC Ventures, is on a path to becoming the world’s fastest blockchain. With its significant growth, expanded network, and upcoming performance testing event, the TON blockchain is poised to showcase its unique capabilities and technical superiority. The collaborations and investments made by renowned entities in the crypto space reflect the increasing recognition and adoption of blockchain technology. As the TON blockchain continues to evolve, its impact on the Web3 ecosystem within Telegram and the broader decentralized landscape is anticipated to be substantial.
