- Toncoin (TON), associated with Telegram, has reached a new high of $2.61, surpassing Dogecoin in market rankings after an 8.4% surge.
- The Open Network claims a record transaction speed of 104,715 TPS, verified by CertiK, significantly outperforming other major cryptocurrencies like Bitcoin and Ethereum.
Toncoin’s Remarkable Market Surge
Toncoin (TON), the cryptocurrency initially associated with the popular messaging app Telegram, is witnessing a significant surge in its market value, following a series of influential developments within the blockchain ecosystem.
Over the last 24 hours, Toncoin has experienced an 8.4% increase in its price, reaching $2.61, a level not seen since February 2022. This bullish momentum has propelled the token’s market cap to over $10.5 billion, briefly surpassing Dogecoin to claim the 10th spot in cryptocurrency rankings.
Toncoin Sets a New Speed Record, Marking Its Meteoric Rise in the Crypto World
The Open Network (TON) has achieved a groundbreaking transaction speed of 104,715 transactions per second (TPS), a feat that has been validated by CertiK, a renowned Web3 smart contract auditor. This performance surpasses that of major Layer-1 blockchains and traditional centralized payment systems like PayPal, Visa, and Mastercard.
— TON 💎 (@ton_blockchain) October 31, 2023
Integration with Telegram
Adding to its recent successes, Toncoin’s integration with Telegram has been a pivotal factor in its growth. The TON Foundation has announced the official integration of the TON Web3 wallet with Telegram, enhancing the utility of the messaging app for its approximately 800 million users.
Comparisons with Established Cryptos
In comparison, established cryptocurrencies like Bitcoin and Ethereum have faced challenges related to transaction speed, with Bitcoin averaging 5 to 7 TPS and Ethereum around 15 TPS. Even Solana, known for its high transaction speeds, has reportedly achieved 50,000 TPS in testing but handles an average of 4,000 TPS in practice.
Global Recognition and Adoption
Toncoin’s momentum is further bolstered by its recognition by the Dubai International Financial Centre (DIFC), allowing its use in transactions by over 4,000 financial institutions and companies within the economic zone. This recognition, coupled with the integration with Telegram, positions Toncoin as a significant player in the digital asset space.
As Toncoin continues to break barriers in transaction speeds and market rankings, its recent advancements underscore the evolving landscape of blockchain technology and cryptocurrency markets. The Open Network’s impressive achievements in speed and integration highlight the potential for digital assets to transform traditional financial and communication platforms, offering a glimpse into the future of blockchain technology’s impact on everyday life.