TON Blockchain: Technical Features and Business Benefits

We offer an overview of this blockchain: we describe TON and Toncoin, the advantages of this ecosystem, and how businesses can use it to accept cryptocurrency payments.  

History and Development of the TON Blockchain  

The idea of a new blockchain appeared in 2018. The Telegram Messenger team, run by Pavel and Nikolay Durov, was looking for solutions to implement blockchain in the Telegram messenger. The lack of suitable options pushed them to start developing their own network which is Telegram Open Network.  

Shortly after the idea was originally conceived, an initial public offering of tokens of the new blockchain, Gram, was held. The closed sale raised more than $1.7 billion. The first test network was launched in the spring of 2019, and the second network was launched in the fall.  

In October of the same year, Telegram was the subject of a lawsuit filed by the US Securities Commission. Despite the team's claims that the accusations were unfounded, blockchain development was halted in the spring of 2020.  

After that, the TON ecosystem passed to independent developers, NewTON. The team used the open source code published in 2019 to continue building the new blockchain. In May 2021, the second test network was renamed Mainnet, and the development team officially became the TON Foundation, a non-profit community continuing the development of the network.  

Although Telegram no longer owns TON, the messenger continues to actively support, popularize and use the blockchain and its native cryptocurrency (Toncoin) to the point of integrating a wallet into the messenger in 2024.  

Technical Characteristics of the TON blockchain  

TON is a sharded blockchain. Its structure includes three types of chains:  

• Masterchain. Contains the basic information about the protocol.  
  
  
• Workchains. Individual blockchains working in parallel with each other. There can be up to 2^32 such chains. 
  
  
• Shardchains (fragmented chains). Subchains of a blockchain that contain part of the state of the parent working chain. A single vorkchain can be split into 2^60 shardchains. 

This architecture provides scalability and high transaction processing speed. Fragmentation allows transactions to be distributed, processing huge amounts of information at once with millions of transactions per second. In addition, the application of blockchains allows to achieve flexibility convenient for decentralized applications: a separate chain can have its own commissions, rules, and consensus mechanisms. 

TON operates on a decentralized Proof-of-Stake mechanism. Within the framework of this mechanism, validators check new blocks, confirm transactions and execute smart contracts, receiving a part of transaction commissions. The suitability of validators and the size of their reward is determined by the number of tokens in the account. 

Toncoin (TON): What Is It? 

Toncoin is a native cryptocurrency of the TON blockchain. It is used to make payments in decentralized applications, pay fees in the TON network, and perform other transactions. In addition, Toncoin is used to validate transactions and reward validators. 

The main objective in developing the TON blockchain and cryptocurrency was to ensure user convenience, efficiency, and accessibility. Crypto owners can use both the custodial TON Wallet and the non-custodial TON Space. Both wallet options can be managed via Telegram using a bot or a ready-made integration.  

The convenience and versatility of the TON platform have made the token highly popular: despite its relatively recent launch, the coin is among the top 15 cryptocurrencies in terms of market capitalization. TON blockchain tokens are actively used both within and outside the network.  

Advantages of Toncoin  

The popularity of the TON cryptocurrency is due to several reasons:  

• Proprietary blockchain. TON currency is independent of third-party blockchains and operates through its own network. The blockchain on which Toncoin operates demonstrates a huge transaction processing speed and offers users some additional services, from buying a Telegram ID to a VPN.  
  
  
• High transaction speeds. The Ton blockchain set a world record by processing more than 100,000 transactions per second. This makes it stand out not only among other cryptocurrency networks but also among conventional payment systems, including giants like VISA and MasterCard. 
  
  
• Telegram integration. TON is a cryptocurrency that is fully integrated into Telegram: Toncoin can be sent and received directly through the messenger by user nickname. The cryptocurrency wallet was integrated into the Telegram app in 2024, and now all users have the corresponding tab in the menu. 
  
  
  
• Low commissions. Transaction costs for transactions with TON are minimal (less than $0.01). This makes the coin a favorable option for businesses accepting crypto payments especially when working with clients from abroad.  
  
  
• Security. Decentralization and the use of encryption reduces the risk of fraud when making a payment on TON. The network is backed by a community of developers and is open source, ensuring that vulnerabilities can be addressed quickly. 

How to Accept Payments in the TON Network?  

An entrepreneur planning to launch a cryptocurrency payment requires understanding Toncoin and finding a suitable way to receive payments. There are two main options: direct transfers and processing.  

Transfers to a cryptocurrency wallet  

To accept cryptocurrency payments in this way, you will only need a wallet where customers will transfer funds. There is no need to connect additional services. For payment, the client requests an address and manually transfers the required amount, after which the company must confirm the order.  

This option may be suitable for a small flow of customers, when it is possible to process each order manually. However, the inconvenience and length of the payment process can lead to loss of customers.  

Crypto processing  

The second way to accept cryptocurrency is to connect crypto processor. This is a specialized service that automates order placement: converts the amount into the cryptocurrency chosen by the customer, displays the wallet address for payment, tracks the receipt of funds and confirms the order.  

Using a cryptocurrency payment system helps to enhancing the convenience and speed of payment, increasing conversion rates. The customer does not have to wait for confirmation from a company representative, and the business does not need to track all transactions manually. Most services offer additional tools, from AML checks for increased security to in-depth statistics, analytics, and financial management.  

Connecting Crypto Processing  

CryptoCloud is one of the services for automating the acceptance of crypto payments. It offers the ability to work via checkout and payment links, connection of AML checks, tools for payment page customization, statistics, fast withdrawal of funds. Let's consider the example of this system, how to connect payment in Toncoin and other cryptocurrencies, for example, USDT in the TON network:  

1. Create an account. In the case of CryptoCloud, only e-mail and Telegram will be required.  
   
   
2. Add a project. You can do this in your personal cabinet by filling out the questionnaire offered by the system with information about your business, store or website. CryptoCloud allows you to add several projects at the same time. 
   
   
3. Connect crypto payments. To do this, you can install a checkout on the company's website (ready-made integration options are available) or generate a payment link (permanent or one-time). 
   
   
   
4. Test integration. A test payment will help to make sure that the integration is configured correctly.  
   
   
5. Start accepting payments. 

When connecting, the user can customize the checkout by adding the logo of his company, select the payment side of the commission, specify the accuracy of payments. You can also activate additional options such as automatic conversion of funds to USDT, AML checks. CryptoCloud fee is from 0.4%.  

Accepting Payments in TON  

TON blockchain is a large ecosystem that offers users high speed transaction processing, scalability and convenient tools for both working with decentralized applications and accepting payments. Thanks to its integration with Telegram, the cryptocurrency is user-friendly even for beginners, which increases its popularity.  

Businesses can process payments in the TON network in several ways, but the most convenient is to connect a processor. CryptoCloud will help automatically process orders paid with cryptocurrency and provide customers with a convenient and secure checkout.