Toncoin (TON) native cryptocurrency The Open NetworkThis is an ambitious project . Telegram It's 2018.
Telegram Open Network (2018)#
- Purpose of collection: $850 million $1.7 billion has been raised.;
- This is November 2019 . Starting up testnet2, highlighted 1,45% to encourage developers and testers.
More details: Telegram Open Network.
Legal obstacles (SEC, 2020)#
- SEC filed a lawsuit alleging that TON = the value of the paper;
- Peace Agreement 2020 → Telegram He refused. from development;
- More details from CoinDesk;
- Independent developers They revived the project. → The Open Network (TON).
Initial Proof-of-Work (IPoW)#
After the deal, Telegram put all the network tokens 20 PoW-Givers in smart contracts.
| The type | The number of | Issued |
|---|---|---|
| Small Givers | 10 | 10–100TON every few minutes . |
| Large Givers | 10 | 10 000 TON at least once a day |
The IPoW period is: June 6th .2020 — 28June 2022.
Who did?
- Small Givers: ordinary participants (equal conditions);
- Large Givers: The future The validators . (more serious resources).
Mechanical engineering
- The miner interacts with the Giver smart contract;
- Solves a math problem . the first;
- He gets it. TON for a cycle;
- The rest of the miners have nothing.
- The cycle continues until all TONs are exhausted.
Decentralized distribution
- ~200 000 TON/day distributed;
- Without the IEO/ICO/token sale direct mining It 's like Bitcoin .
- Tens of thousands of miners have gained access to TON.
End of mining#
June 28 , 2022 all Givers sold out → official end of TON mining.
After that:
- Go to Proof-of-Stake (PoS);
- Issued to validators: 1,7 TON for masterchain-block + 1 TON for the shardchain-block;
- See also: TonStat and Validator.