Toncoin

About Toncoin

The native token of The Open Network, originally developed by Telegram. The US SEC forced Telegram to abandon the project in 2020. The TON community continued development independently. Toncoin is used for transaction fees, staking, and governance. The network uses a proof of stake consensus. Telegram has integrated TON for certain features including wallet functionality and cryptocurrency payments within the Telegram app. The revival of TON demonstrates the resilience of decentralized projects even without their original corporate backers.