TON Blockchain Sets Out to Claim Title of “World’s Fastest Blockchain”

TON Blockchain Sets Out to Claim Title of “World’s Fastest Blockchain”

In an exciting development for the blockchain community, the Open Network Foundation (TON Foundation) has announced its participation in a competition to claim the title of the “world’s fastest blockchain.” This Guinness World Records-approved competition is set to take place on October 31, 2023, at 15:00 UTC. The TON blockchain network will undergo rigorous testing to assess its reliability, scalability, and speed.

The TON blockchain has experienced remarkable growth since 2022, with its user base surging 20-fold from 170,000 to an impressive 3.5 million addresses. Accompanying this growth is the increase in TON validator nodes, which now stands at 350, contributing to a more decentralized network spanning across 25 countries. Despite this expansion, the TON blockchain has maintained a commendable track record of reliability, with no major network disruptions documented to date.

As the TON blockchain continues to evolve and compete for the title of the fastest blockchain, it represents a compelling force in the blockchain space. The global blockchain community eagerly anticipates the results of this competition, which will showcase the unique capabilities of the TON blockchain.

Performance Testing with Strategic Partnerships

To prepare for the performance test, the TON Foundation is collaborating with Alibaba Cloud and others to launch a dedicated TON blockchain network. This network will involve 256 validator node servers and will be livestreamed on live.ton.org for educational purposes. It is important to note that the TON Foundation advises viewers not to make any financial decisions based on the outcome of the test event.

Anatoly Makosov, Core Development Lead at TON Foundation, expressed his anticipation for the upcoming performance test, highlighting the TON blockchain’s ability to scale and stand out among other blockchains. This large-scale public performance testing of TON will provide valuable insights into its technical prowess.

Showcasing Unique Capabilities

Both the TON Foundation and Alibaba Cloud view the performance test as a crucial opportunity to showcase the unique capabilities of the TON blockchain. Serving as a trusted infrastructure layer for the Web3 ecosystem within Telegram, the TON blockchain has recently integrated Telegram to introduce a self-custodial crypto wallet called “TON Space.” With over 800 million monthly active users on Telegram, this wallet has the potential to reach a vast user base.

Within this framework, the TON Foundation and Alibaba Cloud are extending priority access to TON projects and partners on Telegram’s global advertising platform, Telegram Ads. This partnership aims to facilitate global access to the decentralized Web3 ecosystem within Telegram, ensuring its mainstream adoption.

The TON Foundation recently received a substantial investment from MEXC Ventures, a subsidiary of the global cryptocurrency exchange MEXC. This investment marks MEXC’s most significant Layer-1 funding endeavor and establishes a strategic partnership with the TON Foundation. Through this collaboration, MEXC will provide marketing services and promotional support for TON-based projects listed on its platform. Additionally, MEXC plans to introduce a TON collateral lending service and waive trading fees related to the TON token.

Justin Hyun, the Director of Growth at the TON Foundation, emphasizes his enthusiasm for the partnership with MEXC, highlighting their shared commitment to facilitating global access to the decentralized Web3 ecosystem within Telegram. These strategic partnerships align with the TON Foundation’s mission of bringing decentralized technology to the mainstream.

As the TON blockchain prepares to compete for the title of the “world’s fastest blockchain,” its rapid growth, reliability, and strategic collaborations solidify its position as a notable player in the blockchain space. The upcoming performance test will provide valuable insights into the TON blockchain’s scalability, speed, and overall performance, capturing the attention and anticipation of the global blockchain community.

Blockchain

Articles You May Like

The SEC Closes Investigation Into Hiro Systems and Stacks Blockchain
The Rise and Fall of Ethereum’s Price: A Detailed Analysis
Elon Musk Claims EU Offered Illegal Deal to Censor Speech on X Social Media Platform
The Future of Corporate Governance: UK Law Commission Addresses DAO Legal Characterization

Leave a Reply

Your email address will not be published. Required fields are marked *