TON becomes the world's fastest blockchain

MARKET_WATCH

Blockchain

On October 31, 2023, The Open Network Foundation (TON) set a new world record by achieving an impressive high of 104,715 transactions per second, completing 107,652,545 transactions within 25 minutes during its first public performance test. 

 

Monitored and confirmed by CertiKCommunity, this feat establishes TON as the world’s fastest and most scalable blockchain, outperforming the processing speeds of all L1 blockchains and famous centralized payment networks such as PayPal, Visa, and Mastercard.

 

The key to TON’s excellent performance is its unique composition using horizontal sharding. This design significantly increases transaction speed while also strengthening decentralization and security. 

 

This record highlights TON’s potential and capabilities for supporting a TON-based Web3 ecosystem in Telegram, transforming the messenger into a global decentralized SuperApp, and putting crypto in every pocket. 

 

What is The Open Network Foundation?

In times when internet security and privacy are becoming critical issues for users, The Open Network is addressing these problems. By building a Web3 ecosystem in Telegram Messenger, TON is giving billions of people the opportunity to own their digital identity, data, and assets.

 

The Open Network Foundation (TON Foundation) is a non-profit organization founded in Switzerland in 2023. TON Foundation is 100% funded by the community, acting in the community’s interests, and supports initiatives aligned with The Open Network’s mission.

 

TON price analysis

 

At the time of press, this crypto token was trading at the price of $0.012, which comes after a positive 24-hour change of 21.03%, from an impressive 33.48% weekly increase.

 

It is important to note that this asset is currently trading above its 200-day moving average and had 15 green days in the last month.

 

With the news of a record-setting public test that provides users with the fastest transactions available, this blockchain technology and its founders are gathering attention from investors worldwide. 

 

Source :Finance in Bold / November 06, 2023

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