TON: The Project of the Future and a Step into the World of Web3
Cryptocurrencies and blockchain are not just new financial instruments. Once Ethereum, with its smart contracts, expanded the perception of blockchain by showing a new horizon of application possibilities for this technology and giving the world hope for the arrival of Web3.
Today, TON has become the project that outlines the contours of WEB3 and brings it closer to ordinary users.
TON can be considered a harbinger of Web3 due to its unique characteristics and approach to solving key problems of the decentralized internet. Here are a few reasons why TON may become a starting point for the future of Web3:
1. Integration with everyday tools
One of the most challenging tasks of Web3 is overcoming the entry barrier for ordinary users. TON, thanks to its integration with Telegram, provides a simple and familiar interface for interacting with the blockchain. Users can interact with cryptocurrencies, decentralized applications, and other features directly through the messenger, making the technology accessible to billions of people. To start using a crypto wallet or, for example, a crypto exchange, an ordinary Telegram user today needs to spend less than a minute.
Why is this important for Web3?
Web3 implies decentralization and mass adoption of technologies. Ease of use and integration with already popular platforms make the transition to Web3 less daunting for users. PR within the messenger, projects offering rewards for using cryptocurrency, new mechanisms for rewarding authors through interaction with crypto - all this creates an influx of new people into the market.
2. Decentralized ecosystem
TON offers not just a blockchain, but a full-fledged ecosystem that includes payments, smart contracts, asset tokenization, and support for decentralized applications (dApps). This is a key aspect of Web3 that aims to replace traditional centralized services with decentralized alternatives.
Why is this a step towards Web3?
The decentralized infrastructure of TON can become the basis for new applications that ensure privacy, transparency, and user control over their data, which is the core idea of Web3.
3. Scalability and speed
TON is designed with scalability in mind. Its architecture allows for millions of transactions per second, making it capable of supporting mass applications such as social networks, payment systems, and games. This year, the TON blockchain handled traffic in projects involving hundreds of millions of users. I must note that the blockchain faced technical issues. At times, transactions were unavailable for several days. However, a colossal amount of work has been done in this direction since the beginning of the year.
Why is this important?
Web3 is facing scalability issues in current blockchain networks. TON offers a solution that potentially allows for the creation of high-load applications without sacrificing speed and accessibility. Moreover, the blockchain is already at a stage where it can handle tens of millions of users.
4. Simplifying interaction with the blockchain
One of the key problems of current Web3 is the complexity of interacting with the blockchain: from creating wallets to signing transactions. TON significantly simplifies these processes thanks to the Telegram user interface and integration with existing services. As mentioned earlier, creating a wallet on TON, sending and receiving cryptocurrency to Telegram accounts, and crypto exchanges in TON are designed with the highest level of accessibility.
How does this bring us closer to Web3?
Simplifying interaction lowers barriers for new users, helping Web3 reach beyond the narrow circle of technical enthusiasts.
5. Community and mass adoption
TON actively works with the community, creating conditions for developers and users. The participation of major projects such as Hamster Kombat and Notcoin, despite their controversial nature, has already attracted millions of new users to the ecosystem. Telegram open League will hold competitions for new developers wishing to launch applications on TON throughout 2024, offering grants to the winners. Eight seasons of the league have already been held, involving over 200 new projects. Among the winners are projects offering web3 solutions for business interaction with influencers, solutions for creating a store within the Telegram messenger, video blogging solutions, and much more. All these projects, if successfully implemented, could become pioneers in the web3 sector, demonstrating successful blockchain startups with real economic benefits. And all this will be excellent advertising for TON and Telegram.
How is this useful for Web3?
Mass engagement of new users creates the critical mass necessary for the development of Web3. The more people involved in the ecosystem, the faster technology adapts.
What challenges does TON face now?
TON is ahead of its time, looking to the future. This is also one of the main drawbacks of the project. The acceptance of cryptocurrencies by states is still an unfinished process, and a performance like the hybrid of blockchain and messenger with hundreds of millions of users creates a dangerous precedent that can be seen as an example of a traditional company with a non-state economy (unlike Bitcoin, which has clear owners and beneficiaries), which may be viewed with caution by government structures around the world. The scandal with the detention of Pavel Durov was on everyone's lips. I look at this story with optimism, as the outcome of the detention will also provide clarity on the legal regulation of TON.
I wrote this article fully aware that many applications within Telegram today do not represent significant value for their users (hamster kombat), not offering real useful applications of blockchain in everyday life.
However
I also view this moment positively: as a natural stage that has been successfully completed. The task of the first projects on TON was obvious and clear - to attract attention to the ecosystem, and this task has been completed brilliantly. I expect that similar 'dummy' projects will emerge for new markets if Telegram focuses on developing its popularity in Asia and America. But real growth, real value realization will begin with the transition to the next stage - when regulatory issues are resolved, when the investment attractiveness of the network is raised, when the first real solutions, for which groundwork has already been laid, are introduced, and work is underway right now.
All of this leads me to think that the current problems of Telegram are a gift for me. When it becomes clear to everyone that Telegram is the new superstar, and all the project's problems are resolved, we will nostalgically remember the current price of TON.
Therefore
Just hold TON