Telegram’s partner, the Open Network (TON) Foundation, has recently announced a groundbreaking collaboration with Alibaba Cloud. The partnership aims to set up 256 servers for an upcoming performance testing event scheduled for October 31, 2023. The objective of this event is to officially establish the TON blockchain as the world’s fastest blockchain and earn accreditation from the Guinness World Records.
According to a report by Yahoo Finance, the TON blockchain has experienced remarkable growth since 2022. During this period, the number of addresses has increased by 20-fold, going from 170,000 to an impressive 3.5 million. Moreover, the network has expanded its validator nodes to 350, contributing to a more decentralized ecosystem across 25 nations.
Throughout this expansion, the TON blockchain has maintained a strong track record with no major network disruptions reported. Both the Open Network Foundation and Alibaba Cloud view the upcoming performance test as a crucial step in showcasing the unique capabilities of the TON blockchain. They aim to demonstrate that TON serves as a reliable infrastructure layer for the Web3 ecosystem within Telegram.
Anatoly Makosov, the Core Development Lead at the TON Foundation, expressed excitement and anticipation for the performance testing event. He underlined the TON blockchain’s technical superiority, particularly in terms of scalability. Makosov emphasized that TON’s large-scale public performance testing presents an exciting opportunity to witness significant results and validate the blockchain’s technical prowess. He stated:
“We look forward to October 31, 2023, to confirm that the TON blockchain technically stands out among any other blockchain, especially in its ability to scale. This is the first large-scale public performance testing of TON – we’re just as excited as you are to see the results.”
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, has also made a noteworthy investment in The Open Network. According to Yahoo Finance, this investment represents MEXC’s largest Layer-1 funding and comes with a partnership with the TON Foundation.
Justin Hyun, Director of Growth at the TON Foundation, expressed enthusiasm about the partnership with MEXC. He highlighted their shared goal of offering global access to the decentralized Web3 ecosystem within Telegram. The foundation is committed to delivering a “user-centric experience” for the community. MEXC’s support “significantly strengthens” its ability to develop new tools and services that seamlessly integrate crypto with social media.
Steve Yun, President of the TON Foundation, further emphasized MEXC’s belief in the TON blockchain’s potential for building a Web3 super-app ecosystem on Telegram. He expressed confidence in the mutual growth of the TON ecosystem and MEXC as they prepare for the next market cycle.
The collaboration between the Open Network Foundation, Alibaba Cloud, and MEXC Ventures highlights the increasing recognition and adoption of blockchain technology, particularly in the Web3 space. These partnerships aim to enhance the functionality, scalability, and accessibility of the TON blockchain while promoting its global adoption and fostering innovation within the decentralized ecosystem.
Currently, the native token of the TON protocol, Toncoin, is trading at $2,006, experiencing a marginal decline of 0.2% over the past 24 hours. Nonetheless, the token has demonstrated substantial growth year-to-date, boasting an impressive increase of 59% during this timeframe.
The partnership between the Open Network Foundation and Alibaba Cloud brings great anticipation for the upcoming performance testing event. By showcasing the TON blockchain’s technical superiority, scalability, and decentralization, they aim to establish it as the world’s fastest blockchain. With support from MEXC Ventures, the TON ecosystem continues to pioneer the development of the Web3 ecosystem within Telegram, driving blockchain adoption and innovation in the decentralized space.
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