TON is a platform or rather a system of multiple blockchains designed to hold a new wave of cryptocurrencies and applications. Its design is so sophisticated that the blockchain will be consistent with a total of 292 blockchains, all of which are enabled by its master architecture and design. The platform is another form of cryptocurrency wallet that capitalizes on the fact that more cryptocurrencies are coming into existence and need a decentralized system safe enough to host them. A review of TON shows distinguished pros and cons of the system and a comparison to other systems in the same line provides proof of its level of efficiency.
History of TON
The messenger app Telegram is not alien to many, considering it has more than two hundred million users across the world. Devised and brought into the market by Russian social media genius, Pavel Durov, the app has become a sensation to a vast number of users. However, the messenger app was not all that Durov had in mind. The telegram was created in the fall of 2013 by the Durov brothers with Nikolay Durov designing the MTProto scheme of encryption that aimed explicitly at ensuring anonymity. Durov soon ventured into the blockchain and crypto industry this being confirmed by news articles and reports that telegram had set its intentions towards scaling beyond Facebook. It was sooner rather than later that reports indicated that telegram was indeed testing a new type of blockchain called Telegram Open Network (TON).
Credited to his ingenuity is the Facebook of Russia, Vkontakte, which has made Durov become a social media sensation attracting both positive and negative views. Despite the government being against Mr. Durov’s venture and advances, the telegram messenger app is widely used even in Russia despite it being banned. Needless to say that the demand for a blockchain associated with it is high and Durov understands this all too well. What is makes TON captivating is the promise of a whitepaper that could see the crash and market collapse of critical players like Visa and MasterCard. Durov has promised a lot, and the government sees TON as a threat because once in the market, it will be impossible to control the financial sector. Indeed it is so because more and more people are moving from the conventional economic systems to cryptocurrencies such as Bitcoin.
Investors like Abramovich have fronted Durov and his team a sum of $1.7 billion towards the development of the blockchain. While testing of TON began in April 2019, its official date of release and launch is yet to be issued. However, Durov has until the 31st of October of the year 2019 to release the blockchain or else the investors will be right and within contractual boundaries to seek back their money. Speaking to the media, Durov assured the investors and the market that TON was 70% complete and just required some further tests and trial runs to finalize the end parts.
- Multiple blockchains- the blockchain platform is scalable and flexible comprising of at least 292 blockchains. The design allows for the processing of millions of transactions every second.
- An Infinite sharding paradigm- TON has an in-built support system that helps in sharding, enabling the platform to split and merge all at the same time towards facilitating load accommodations. What this does is omit lengthy queues and maintain low costs of the transaction.
- Instant routing of the hypercube- TON employs a smart system of routing that makes sure all transactions between any given blockchains assume fast processing regardless of how big or small the system is.
- 2-D Distributed ledgers- TON has an in-built mechanism devised to restore new blocks once proven either incorrect or unable to use due to unnecessary forks.
- File-storage- It has a distributed file storage that makes it useful and efficient in storing files that are arbitrary using technology that accesses torrent and smart contracts.
The Ton wallet is the application that you will need to store and keep your Ton cryptocurrency. The wallet does well to secure the management of the private key as well as the transfer and exchange of cryptocurrencies. As earlier mentioned, the Ton is still in it is testing and trial mode, and as such the wallet is not yet available. However, once open, it will be managed in Atomic Wallet.
Ton Wallet security
One should ensure by all means that their cryptocurrencies or funds instead are stored in a secure place. Before settling for a wallet, one must ascertain the verification of that wallet and review its security checks and measures. Besides, it is essential to record their password and critical phrases as well as other login details so that o may recover them. Do a research first to confirm and affirm what wallet is trusted by listening to reviews provided by other users.
Atomic Wallet is somewhat secure and more trustworthy when it comes to managing wallets storing cryptocurrencies. The Ton wallet is yet to be released and launched into the market. However, as soon as the crew completes its setup and then managed by Atomic Wallet, its security systems will be boosted by a significant percentage. One aspect of the Atomic Wallet that makes it better and safer than other wallets is its encryption as per each type of cryptocurrency. This makes it difficult for an unauthorized party to access the account and secure way with o funds.
How Atomic wallet works
Founded in the year 2017 by Konstantin Gladych, the Atomic Wallet is specifically designed to withstand the test of time. It has an inbuilt system and mechanism that sees it make atomic swaps. As an application, it comes compatible with many operating systems both on the PC and Android phones. Its convenience stretches to the fact that the app is designed for Windows, macOS, Ubuntu, and the many other operating systems available. The wallet is easy to open because one only needs to open an account and follow through a guided registration procedure to successfully have a wallet to store their funds. As it stands, Atomic Wallet hosts more than 300 types of cryptocurrencies as well as all the key tokens. Its inbuilt mechanism allows for one to swap the cryptocurrencies from one to another depending on the going rate. For instance, one can change a Bitcoin to Stellar or Ethereum if they wish to transact in that currency. Think of it as the crypto currency forex market where currencies are changed from one form to another.
Where to keep a TON
As earlier mentioned, Atomic Wallet is a secured and verified wallet as determined by its inbuilt design system and mechanism of operation. It is thus only logical to keep TON in Atomic Wallet. Once released, Ton will require a properly-encrypted wallet that does not experience any form of leaks or security breaches, and this is what Atomic Wallet provides. Another reason to entrust the Ton funds in Atomic Wallet is that Atomic Wallet is decentralized, which further makes it a better wallet in comparison to the others in the market.