Toncoin (TON) Founder Pavel Durov Regaining Freedom Draws Attention in the Cryptocurrency Market.

This article explores the potential impact of Pavel Durov's regained freedom on Toncoin (TON), analyzing its technical advantages, market performance

Recent news of Telegram founder Pavel Durov regaining freedom has drawn significant attention in the cryptocurrency market. As one of the original initiators of the Toncoin (TON) project, Durov’s movements hold implications for TON’s future development.

This article explores the potential impact of Pavel Durov’s on Toncoin (TON), examining its technical advantages, market performance, ecosystem growth, and the possibility of a future breakout.

Toncoin (TON) was initially created by Telegram's team, headed by founder Pavel Durov, with the aim of making a blockchain platform that supports payments, storage, communication, and more. The project faced early regulatory challenges, leading to a tumultuous journey.

Time

Event

2017

Telegram released the TON (Telegram Open Network) whitepaper.

2018

Toncoin conducted its first token sale (ICO), raising $1.7 billion.

2019

The U.S. SEC sued Telegram over its ICO, citing unregistered token sales.

2020

Telegram halted the TON project due to regulatory pressure, after which community developers took over and rebranded it as The Open Network. Toncoin, the network's native token, subsequently entered the trading market.

2021

The TON ecosystem's developer community launched various applications and services, such as DeFi platforms and NFT marketplaces.

2023

Toncoin gradually became a key payment and transaction tool within the Telegram ecosystem.

Pavel Durov, the founder, is a Russian entrepreneur and programmer, is best known for founding the social network VK and the messaging app Telegram. He garnered widespread support for his advocacy of free speech and privacy protection.

Like Solana (SOL), Toncoin is an emerging powerhouse in the blockchain space, offering significant technical advantages in scalability, speed, and security. However, the two differ in their specific implementations.

Feature

Toncoin（TON）

Solana（SOL）

Network Architecture

Uses a multi-layered network architecture, balancing decentralization and centralization.

Adopts a single blockchain architecture, emphasizing fast processing and efficiency.

Smart Contract

Supports diverse smart contract development, promoting decentralized applications (dApps).

Supports efficient smart contracts, with numerous dApps already running on the platform.

Security

Employs advanced encryption to ensure user data and transaction security.

Uses "Proof of History" to enhance security and fairness.

Scalability

Utilizes sharding to handle large transaction volumes.

Leverages historical data and multi-threading for high throughput and scalability.

Transaction Speed

Aims for near-instant transaction confirmation times.

Processes over 65,000 transactions per second, offering high-speed transactions.

Transaction Cost

Low transaction costs, suitable for daily micro-payments.

Low fees, typically a few cents, supporting high-frequency transactions.

Similarities and Differences Between Toncoin and Solana, Source: TradingKey.

Toncoin's high performance and low costs make it a preferred platform for developers and businesses, attracting numerous projects across finance, art, gaming, social networks, and more.

Use Case

Representative Projects

Wallets

MyTonWallet, Spintria Wallet, Tonkeeper, TON Wallet WEB

Exchanges

Crypto Bot, DeDust, StonFi, Neocrypto, Rainbow Swap

Staking

Stakee, Hipo, Bemo, TON Validators

NFT Marketplaces

Market App, Fragment, TON Diamonds

Gaming

MineX, Major, #Memhash, Notcoin, PunkCity

Social

Ton.Place, Community, Tribute, 4riends

Others

TON DNS, Mobile, TONRaffles, Tonstarter

According to DefiLlama data, as of March 18, Toncoin has 57 protocols, ranking 29th among all public blockchains. Its total value locked (TVL) in DeFi stands at $181 million, placing it 31st. While Toncoin's application ecosystem is not yet dominant, it holds a mid-tier position.

However, Toncoin's market capitalization stands at $8.5 billion, surpassing Stellar (XLM), Litecoin (LTC), and Avalanche (AVAX), ranking 13th among all cryptocurrencies—positioning it in the mid-to-upper-tier.

Top 10-20 Cryptocurrencies by Market Cap, Source: CoinMarketCap.

In 2021, TON's initial price was around $0.5, but it surged to $5 in the second half of the year amid the DeFi and NFT boom. In 2022, the crypto market correction pushed TON's price down to approximately $1.

In 2023, improved market sentiment and Toncoin's technical upgrades helped stabilize its price between $2 and $3. In