Buy Toncoin (TON)
What is Toncoin?
Toncoin (TON) is the native cryptocurrency of The Open Network (TON), which is a decentralized platform with a layer-1 blockchain. It integrates various components such as a Masterchain and multiple Workchains, including up to 2^32. The platform offers a decentralized network focusing on low transaction fees, efficient payment settlements, smart contract execution, and anonymous networking with TON Proxy.
How does Toncoin work?
Toncoin operates on a layer-1 blockchain architecture that consists of several components including the Masterchain, Workchains, and Shardchains for parallel processing. It uses a Proof-of-Stake (PoS) consensus mechanism coupled with a Byzantine fault-tolerant protocol, which enhances security and efficiency. Validators are selected based on their stakes, contributing to a decentralised governance model. The TON Virtual Machine (TVM) alongside smart contracts allows for flexible and dynamic decentralised applications.
What are the potential use cases for Toncoin?
Toncoin has numerous use cases including:
- Serving as a means for transaction fees and gas payments for executing smart contracts.
- Staking for network security and participating in governance decisions.
- Facilitating fast peer-to-peer payments, including payment for services such as Telegram Premium.
- Supporting a wide range of decentralised applications on its network, spanning fields like DeFi, gaming, and the management of NFTs.
- Integration into other financial and digital ecosystems through partnerships.
What is the history of Toncoin?
Toncoin was initially conceptualised by the co-founders of Telegram in 2018 under the project name Telegram Open Network. Despite raising $1.7 billion in its ICO, the project faced legal challenges from the SEC which led Telegram to abandon its direct involvement. However, the project was revitalised by independent developers in 2021, leading to the launch of The Open Network and the continuation of Toncoin. Significant adoption milestones include integration with Telegram in 2023 and inclusion on trading platforms like Revolut, marking its increasing market presence and expansion.
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The information presented in this comparison table is for educational purposes only and is not an investment recommendation for your personal circumstances. Past performance is not an indicator of future performance.
The data points in this table are sourced as follows: ASX200 from Google’s ASX200 index price, Gold from ABC Bullion’s website (abc bullion.com.au), and BTC from CoinGecko (coingecko.com.au). All data is recorded at 10 am AEST on the first day of each calendar month.
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Frequently Asked Questions (FAQs)
What is the current price of Toncoin (TON)?
The Toncoin price is $9.1704 AUD, representing a -0.47% from the day prior.
Where is the best place to buy Toncoin (TON) in Australia?
The best place to buy Toncoin (TON) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Toncoin (TON) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Toncoin (TON)?
The trading volume of Toncoin (TON) is $292.3M AUD in the last 24hrs, representing a -0.47% from the day prior.
How can I buy Toncoin (TON)?
Toncoin (TON) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Toncoin (TON)?
The current market cap of Toncoin (TON) is $23.0B AUD.
Can I convert Toncoin (TON) to cash?
Yes - With Coinstash you can convert your Toncoin (TON) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Toncoin (TON) are there?
The current circulating supply of Toncoin (TON) is 2.5B.
Is Coinstash a safe place to buy Toncoin (TON) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Toncoin (TON) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.