On October 11, the Open Network Foundation (TONE foundation) announced its participation in a competition approved by Guinness World Records to claim the title of “world’s fastest blockchain”. The public network performance test is scheduled to take place on October 31, 2023 at 15:00 UTC. During this event, the blockchain network will be rigorously tested for reliability, scalability and speed.
As a remarkable testament to its growth, the TON blockchain has experienced exponential expansion since 2022. The user base has multiplied by 20, catapulting from 170,000 to an impressive 3.5 million addresses. This increase has been complemented by an increase in TON validator nodes, which now number 350. This expansion has contributed to a more decentralized network that spans over 25 countries.
Despite this rapid growth, the TON blockchain has demonstrated a commendable track record of reliability. So far, there have been no major network outages documented, underscoring the robustness and scalability of the TON blockchain. As the network continues to evolve and compete for the title of fastest blockchain, it represents a compelling force in the blockchain space. The global blockchain community will eagerly await the results of this competition.
TON Foundation partners with Alibaba Cloud for high-level TON blockchain performance test
The TON Foundation has teamed up with Alibaba Cloud and others to launch a dedicated TON blockchain network for performance testing. The test will involve 256 validator node servers. A live stream of the test event will be broadcast on live.ton.org for those interested in witnessing it.
However, the TON Foundation advises that the event be viewed for educational purposes only and that viewers should not make any financial decisions based on the outcome.
Anatoly Makosov, head of core development at the TON Foundation, said:
“We look forward to October 31, 2023 to confirm that the TON blockchain technically stands out from any other blockchain, especially for its ability to scale. This is TON’s first large-scale public performance test; we are just as excited. how are you to see the results.”
Both the TON Foundation and Alibaba Cloud felt that the upcoming performance test was crucial to showcase the unique capabilities of the TON blockchain, which serves as a trusted infrastructure layer for the Web3 ecosystem within Telegram.
The TON Foundation partners with Telegram and MEXC to bring decentralization to the masses
Just last month, the TON Foundation took a major step by integrating Telegram to introduce a self-custodial crypto wallet known as “TON Space,” which caters to its vast user base of over 800 million active users monthly This wallet can be accessed through the Telegram settings.
As part of this launch, Telegram is expanding priority access to TON projects and partners on its global advertising platform, Telegram Ads, the TON Foundation has confirmed.
Earlier this month, MEXC Ventures, a subsidiary of global cryptocurrency exchange MEXC, made a substantial investment in The Open Network, marking it as MEXC’s largest Tier 1 funding effort. This investment also involves a strategic partnership with the TON Foundation.
Within this collaboration, crypto exchange MEXC will provide marketing services and promotional support for TON-based projects listed on its platform. In addition, the company plans to introduce a TON collateral loan service and waive trading fees related to the TON token.
Justin Hyun, Chief Growth Officer of the TON Foundation, expressed his enthusiasm for the partnership with MEXC, underscoring their mutual commitment to facilitate global access to the Web3 decentralized ecosystem within Telegram.
These partnerships are part of the TON Foundation’s commitment to bringing decentralized technology into the mainstream.