What is Toncoin (TON)?
Toncoin is the native token of The Open Network (TON) blockchain. TON was originally a project developed by Telegram and started under the name Telegram Open Network. Telegram, a messaging app with over 800 million users worldwide, set an ambitious goal of creating a blockchain that supports fast and secure transactions.
However, in 2020, Telegram officially abandoned the TON project due to a legal dispute with the U.S. Securities and Exchange Commission (SEC).
Despite this, the open-source code of TON was taken over by the community and independent developers, who continued the project and developed it into today's The Open Network. Toncoin, born from this effort, has become the core asset of the TON blockchain and is used for various purposes such as transaction fees, staking, and network governance.
Features of TON: Why is it gaining attention?
1. High Scalability: TON utilizes a multi-layer structure and sharding technology to process millions of transactions per second. It is seen as having the potential to replace traditional payment systems like Visa and Mastercard.
2. Speed and Low Cost: The fast transaction speed and low fees are major attractive points of TON. It is optimized for projects based on messaging apps, where user experience is crucial.
3. Decentralized Ecosystem: TON provides various features, including distributed storage, anonymous networks, and a domain name system (DNS). It aims to build an ecosystem that goes beyond just a payment method.
Even after Telegram abandoned the TON project, the connection between TON and Telegram has not been severed. In recent years, Telegram has actively started to utilize the TON blockchain again, resulting in a surge in the popularity of Toncoin. Especially since 2023, Telegram has integrated a TON-based cryptocurrency wallet into its app, providing users with an easy way to access cryptocurrencies.
As of March 2025, Telegram has announced the addition of transaction and interest-earning features to its TON-based wallet. This means users will be able to store, trade, and even earn interest on their Toncoin. Considering Telegram's massive user base (over 800 million!), the potential for TON to become mainstream has greatly increased.
Additionally, Telegram is strengthening its mini-app ecosystem using TON. For example, games (e.g., Notcoin) and payment systems based on the TON blockchain are actively operating within Telegram.
These mini-apps allow users to utilize cryptocurrencies without leaving the app, further enhancing the practicality of TON.
The Rise of Toncoin
In March 2025, news broke that Pavel Durov, the founder of Telegram, had received permission to leave France, which led to an upward trend in the TON ecosystem's tokens. The TON Foundation welcomed this news, stating that Durov's newfound freedom would have a positive impact on the project. Following this announcement, there were reports of Toncoin's price rising by about 20%.
Moreover, TON is a community-driven project, with developers and users growing the ecosystem together. Recently, TON-based DeFi platforms, NFT projects, and games have emerged, drawing the attention of investors.
What’s the future of Toncoin?
Toncoin and the TON blockchain, combined with Telegram's massive platform, show the potential to dominate the cryptocurrency market. Experts see TON as a project capable of driving the mainstream adoption of Web3 through large-scale user onboarding. With Telegram designating TON as its exclusive blockchain and committing to its use in mini-apps and payment systems, the future growth of TON looks promising.
