When it comes to blockchain technology, speed is often a key factor that determines its success. On October 11, the Open Network Foundation (TON Foundation) made an exciting announcement – it will be participating in a Guinness World Records-approved competition to claim the title of the “world’s fastest blockchain.” This public network performance test is scheduled to take place on October 31, 2023, at 15:00 UTC, where the TON blockchain will undergo rigorous testing to evaluate its reliability, scalability, and speed.
The TON blockchain has experienced exponential growth since 2022, which is a remarkable feat in itself. The user base has grown an astounding 20-fold, surging from 170,000 to an impressive 3.5 million addresses. This expansion also led to an increase in TON validator nodes, reaching a count of 350 nodes. Consequently, the network has become more decentralized, spanning across 25 countries. It is worth noting that despite this rapid growth, the TON blockchain has maintained an excellent track record of reliability with no significant network disruptions.
To ensure the success of this performance test, the TON Foundation has partnered with Alibaba Cloud and other organizations. Together, they will launch a dedicated TON blockchain network specifically designed for the testing process. The test will involve 256 validator node servers, making it a robust and comprehensive evaluation of the TON blockchain’s capabilities.
For those interested in witnessing this historic event, a live broadcast will be streamed on live.ton.org. However, the TON Foundation advises viewers to approach the event with educational purposes in mind and refrain from making any financial decisions based on its outcome.
Anatoly Makosov, the Core Development Lead at TON Foundation, expressed his anticipation for October 31, 2023, stating that they look forward to proving the TON blockchain’s superiority, particularly in terms of scalability. This performance test will serve as the first large-scale public evaluation of the TON blockchain, and both the TON Foundation and Alibaba Cloud believe that it will highlight the unique capabilities of this blockchain.
It is important to note that the TON blockchain plays a significant role as a trusted infrastructure layer for the Web3 ecosystem within Telegram. To further strengthen its position, the TON Foundation recently integrated Telegram to introduce a self-custodial crypto wallet called “TON Space.” This wallet can be accessed through Telegram settings and caters to the vast user base of over 800 million monthly active users.
This integration has also opened doors for TON projects and partners on Telegram Ads, the platform’s global advertising platform. TON Foundation confirms that priority access will be given to these projects. Furthermore, the TON Foundation secured a strategic partnership with MEXC Ventures, a subsidiary of the cryptocurrency exchange MEXC. This partnership involves a substantial investment in The Open Network and will support marketing services and promotional efforts for TON-based projects listed on the MEXC platform. The company also plans to introduce a TON collateral lending service and waive trading fees related to the TON token.
Bringing Decentralized Technology to the Mainstream
Through these partnerships and initiatives, the TON Foundation demonstrates its commitment to making decentralized technology accessible to a wider audience. By pushing the boundaries of blockchain speed and showcasing its scalability, the TON blockchain is poised to become a key player in the blockchain space.
As the TON blockchain competes for the title of the world’s fastest blockchain, the global blockchain community eagerly awaits the results of the performance test. This event serves as a testament to the progress and innovation within the TON Foundation and highlights the potential for further advancements in blockchain technology.
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