Free TON on SIGEN.pro: How This Cryptocurrency Works and Its Prospects
On October 12, TON Crystal (TON) cryptocurrency was added to SIGEN.pro. This is the key coin of the Free TON blockchain platform designed by the Telegram team and TON Labs. This coin was meant to become Telegram’s internal currency and part of a new decentralized Internet network. Unfortunately, the American regulator disrupted these plans by banning launch of the blockchain. The project’s developers, validators and community have preserved all data and launched the network without the Telegram. We will tell you how Free TON blockchain works, how it can change the global Internet network and why it’s worth noticing.
What is Free TON?
Free TON is a decentralized blockchain network and platform based on the Telegram Open Network (TON) protocol developed by the brilliant programmer Nikolai Durov (Pavel Durov’s brother and one of the VKontakte founders) and the Telegram team. The project’s native coin is TON Crystal (TON).
Initially, TON was meant to include the GRAM token — internal coin for the Telegram messenger. In autumn 2017, Pavel Durov raised $1.7 bln to develop the project. It was meant to start in October 2019. However, the US Securities and Exchange Commission (SEC) banned the launch and distribution of GRAM tokens seeing them as unregistered securities. In May of the same year, Pavel Durov announced termination of Telegram Open Network development and return of funds to investors.
Who Launched Free TON and Why?
Free TON was launched by the Free TON Community on May 7, 2020 after Pavel Durov decided against launching the Telegram Open Network.
The project’s community has over 7,200 users, including investors, developers, network validators, companies whose operations are based on TON and regular network users from dozens of the world’s countries, with China, South Korea, Israel, Spain, France, Italy and Russia among them. They are investors, developers, network validators, TON-based companies, and regular network users from dozens of countries, including China, South Korea, Israel, Spain, France, Italy, and Russia. The community includes big blockchain projects: TON Labs and TON Cash developers, Kuna and CEX.IO crypto exchanges, Chorus, Simplex, Everstake, Certus, Mintergate, p2p.org validators, Dokia Capital and Bitscale Capital investment companies.
Operations of the Free TON Community are completely transparent. The organization has a blog and broadcasts its business meetings on YouTube.
The launch of Free TON was initiated by TON Labs — Telegram’s tech partner and investor. The company had worked on the Telegram Open Network since 2017 and was a major developer of its infrastructure, app solutions and TON OS. In 2019, TON Labs supported by Telegram launched TON’s test version.
Why Was Free TON Launched Without Pavel Durov and Telegram’s Support?
Free TON was launched when it became obvious that Telegram could no longer be involved in developing the blockchain due to judicial proceedings and legal prohibitions.
For two years, developers had worked on launching the best and most high-tech blockchain to be integrated with Telegram. Integration never happened, but it would be stupid and frustrating to have rejected an idea capable of changing the digital world.
Does Free TON Have Anything to Do with the Durov Brothers and Telegram?
Legally, Free TON has no connection with Telegram even though it’s based on its code. To prevent prosecution by SEC, the community changed names for the project and the coin.
The launch of the project was not discussed with Telegram or TON investors, is not legally endorsed by them and has nothing to do with them. Free TON has no obligations to make payments to TON’s early investors.
Neither the Durov brothers nor the Telegram team prohibited others using their code. On the contrary, Pavel Durov publicly wished every success to all those who would keep up the fight for equality and decentralization.
Anyone can join the community. With the only exception: US residents prohibited from doing so by their own authorities.
Technically, Free TON is Durovs’ Blockchain
Free TON is based on the Telegram Open Network code, but it’s not its fork. It’s a separate open code blockchain using the PoS protocol.
However, technically and functionally Free TON is nearly a complete copy of the Telegram Open Network, with the biggest differences being its name and lack of integration with the messenger.
High Speed and Scaling Opportunities Among Key Free TON Advantages
The Telegram Open Network was developed by the best Telegram programmers. This blockchain has a lot of advantages over other decentralized protocols.
Developers say that Free TON has one of the best capacity characteristics compared to other blockchains. Its current capacity is up to 60 K transactions per second, and it could potentially rise to a million. This rate is still unthinkable for existing blockchains or payment systems like Visa and MasterCard.
Free TON as a basis for Internet 2.0
One might think about Free TON as a huge distributed supercomputer, or rather a huge “superserver”. Its implementation of sharding (a method of scaling data and applications) is one of the most essential technical finds. The main blockchain consists of 232 working blockchains (workchains). Each workchain is in turn subdivided into to 2 shard blockchains (shardchains). As a result, Free TON is not just one decentralized protocol, but a multi-blockchain platform including hundreds of networks.
Free TON can become more than just a blockchain. It was designed as a decentralized uncensored Internet with blockchain applications and cryptocurrency. If the project receives a large-scale adoption, it will be able to create a new Internet network — completely alternative to the conventional one.
The Free TON network consists of dozens of component services. For instance:
● TON Sites include sites that are only available on the TON network;
● TON Proxy is a service which enables anonymous access to the TON blockchain and TON-based services;
● TON Storage is a file depository outside the main blockchain.
Virtual Machine is integrated into the Free TON blockchain. It was created by Nikolai Durov to execute smart-contract code in the TON blockchain
The TON OS connecting developers with users and allowing working with tools through the TON Surf visual interface is ready to be released. TON Surf already has its own browser, messenger, and wallet.
All services can be easily integrated with third-party applications, for example, messengers, social media, and games. These applications can work inside the Free TON network without using its resources.
Is Free TON a Decentralized Blockchain?
Free TON is a PoS-based blockchain that is supported and verified by independent, though controlled validators. To achieve decentralization, the coins are distributed to as many users as possible. All these users will be able to stake the coin. However, no validator can own over a third of circulating coins.
All strategic decisions on project management decision are voted for by all coin holders in a simple majority vote using smart-contracts.
The Free TON community believes that true decentralization is the only way to accelerate innovation and forge a better future.
How are TON Coins Distributed?
The overall TON supply is 5 billion coins.
According to the original plan, coins were distributed free among users in proportion to their contribution to the development of the project. There have been several open contests for solutions for the extended node deployment infrastructure, a voting system in smart contracts, and a coin distribution algorithm. The winners, who had been chosen by the jury and community members, were awarded 30,000 TON. Specific procedure of distributing coins are still being actively discussed by participants on the project’s forums.
The mechanics of coin distribution are as follows:
● 85% will go to partners and referral program users who expand the base;
● 10% — to developers;
● 5% — to validators.
The coin is not mined. Later coin holder will receive a possibility to stake the coin and earn 15 to 20% per year.
No ICOs and other “coin sales” will be held. TON owners can freely trade their coins. Initial trading price was $1.4. The current price is about $0.8. The coin just started trading. Even though so far there haven’t been many validators in the network, there’s however a growing interest in the project. If you believe in a bright future of this project, don’t miss a chance to become a major Free TON holder.
Until now, people could buy TON via Telegram bots or directly from coin owners. Now you can do this on SIGEN.pro. The Kuna crypto exchange has not added TON for trading yet, however it plans to add to a number of its payment products. There are also other exchanges which plan to add the coin.
Free TON Roadmap
Before the launch, the initial Free TON community and developers signed the Declaration of Decentralization which is considered the project white paper. According to the Declaration, the Free TON development will be divided into three stages to avoid mistakes caused by haste.
- Stage I (Raging Bull) is a stage where we are now. Developers are setting network configuration parameters and smart contracts of the voting system. Once the fixing completes, the so-called Decentralized Time Bomb will get activated and the configuration cannot be changed any longer.
- Stage II (Rumble Fish) — the network configuration parameters are reset to disable developers’ control over them, giving full power to network validators and the community.
- Stage III (Fight Club) is a decentralized main network with automated voting and coin distribution.
Can Free TON Grow without Telegram's Support?
Today, Free TON is one of the most advanced blockchain platforms that empowers the creation and launch of decentralized online services based on cryptocurrency payments.
Sadly, the Durov brothers and Telegram cannot support the project. But they had no choice — if they supported the project, the SEC would have banned Telegram worldwide. The Telegram team has repeatedly stated that after the TON blockchain is launched, it will become a completely decentralized project whose development Telegram will not be able to interfere with. That's what ultimately happened.
The Free TON Community tries to avoid the mistakes the Telegram team made. Since Free TON is not legally connected with the Durov brothers' messenger, regulators can't claim against the project. Developers don't raise money — they can't be accused of distributing unregistered securities. Therefore, you should not be afraid of legal claims.
Free TON is about the future of decentralization and the Internet
Free TON proves that software is free and cannot be banned or restricted.
Free Ton has everything it takes to be a successful project and change the world. This is a scalable and carefully designed blockchain which works for a wide audience, not just for crypto geeks. Built on smart contracts and based on dynamic sharding, TON blockchain can lay the groundwork for a new decentralized and uncensored internet where TON coins will become common use. Free TON has already created a solid foundation for this.
Community Resources
● Freeton.org — Free TON official website;
● Declaration of Decentralization;
● Free TON Wiki — information resource;
● Free TON wiki group — Wiki authors, editors, and team chat. Discussion of Free TON Wiki content and development plans;
● Forum.freeton.org — forum for discussions, initiatives, contests and proposals;
● Free TON.Community_RU — Russian-speaking Telegram community;
● Free TON RU News — main news channel;
● TON code (Telegram);
● Free TON code (TON Labs);
● TON Surf for iOS — app for iOS;
● TON Surf for Android — app for Android;
● Chatex — bot-service for buying/selling TON coins for cryptocurrencies and fiat;
● FreeTON_OTC — OTC group for buying/selling TON coins;
● FreeTON p2p Exchange — OTC group for buying/selling TON coins;
● FreeTON2Mobile — bot service to top up your phone balance in Russia with TON Crystals coins;
● Pokerton — TON-based poker room Telegram.
Trade Free TON on SIGEN.pro
It is our hope that you will find this publication interesting and informative. As of today, you can buy/sell TON on our platform — with no fees and for any currencies in the world. We provide easy-to-use, high-quality service, reliable account protection and 24/7 technical support. You ensure you have high spirits and run successful transactions. :)
We wish you successful trading! Sincerely yours, SIGEN.pro team