Wallet Count and Developer Income from Mini-Apps Reported by TON
In the dynamic world of cryptocurrency, The Open Network (TON) has emerged as a significant player, demonstrating impressive growth and success over the past year. This news article delves into the key factors driving TON's ascent and highlights some of its key achievements.
One of the primary catalysts for TON's growth is its integration with Telegram, a messaging app with over 900 million active users. This partnership provides a vast user base and ecosystem for TON applications, with features such as in-app wallets encouraging user engagement with TON-based services[1][2].
TON's scalability and low fees are another significant advantage. Operating on a sharded Proof-of-Stake blockchain, TON can process up to 55,000 transactions per second at very low costs, making it competitive with other blockchain platforms like Ethereum and Tron[1].
The growth of TON's ecosystem is another crucial factor. Over 500 decentralized applications (dApps) run on TON, including DeFi platforms and gaming apps. This expansion in the number of dApps enhances TON's utility and can boost its user base[1][3].
TON's use of jettons, which are similar to Ethereum's ERC-20 tokens, also contributes to its success. These smart contract tokens are essential for interactions within DeFi applications and gaming platforms, offering developers flexibility and users a broad range of functionalities[3].
Regulatory and market sentiment have also played a role in TON's growth. A favorable regulatory environment and positive market conditions (such as a bull market in cryptocurrencies) can enhance its adoption[1][4].
TON has achieved numerous milestones in recent months. Transaction volumes on TON ranged between $5 billion and $10 billion. TVL (Total Value Locked) on TON rose from $13.5 million to a peak of $776 million. Eight months after the launch of USDt on TON, the net turnover in the USDt-TON ecosystem exceeded $1.2 billion. The Notcoin airdrop, totaling over $2.2 billion, ranked among the top five largest of the past year[1].
Investments from major players such as Pantera Capital, Mirana Ventures, Bybit, OKX Ventures, Bitget, Foresight Ventures, and Animoca Brands have also bolstered TON's growth[1]. These investors have provided significant funds to support Telegram-based projects and drive TON's development[1].
Developers plan to deepen Telegram integration, roll out the TON Teleport Bitcoin bridge, release tokenized stickers and gifts, and expand into the U.S. market[2].
As of the same year, up to 40 million monthly active addresses and smart contracts have collectively operated in the TON network. On most days, TON also surpassed Ethereum in daily active wallets, averaging 1.8 million[1]. Furthermore, over 1.19 million users purchased Telegram Stars-an in-game currency-for $63 million, and the total number of Toncoin holders surpassed 100 million[1].
In conclusion, TON's strategic partnerships, scalability, low fees, ecosystem growth, innovative features, and favourable regulatory and market conditions have contributed to its impressive growth and success. As it continues to develop and expand, TON is poised to make a significant impact in the cryptocurrency landscape.
References: [1] https://ton.org/en/ton-news/ [2] https://blockchain.news/news/ton-outperforms-base-bnb-chain-and-other-blockchains-in-terms-of-active-addresses [3] https://cointelegraph.com/news/ton-blockchain-surpasses-1-19-million-users-as-toncoin-holders-reach-100-million [4] https://www.ccn.com/ton-blockchain-toncoin-price-surges-as-ton-outperforms-ethereum-in-daily-active-wallets/
- The integration of TON with Telegram, a popular messaging app, has provided a substantial user base and ecosystem for TON applications, boosting user engagement with TON-based services and DeFi platforms.
- Operating on a scalable Proof-of-Stake blockchain, TON competes with blockchain platforms like Ethereum and Tron in processing speed and low transaction costs, which has contributed to its success.
- Investments from major players such as Pantera Capital and Animoca Brands have provided significant funds to support Telegram-based projects, drive TON's development, and boost its growth in the dynamic world of cryptocurrency and finance.
