The Open Network (TON) Foundation, in collaboration with Alibaba Cloud, has recently announced its plans to organize a performance testing event on October 31, 2023. The primary objective of this event is to establish the TON blockchain as the world’s fastest blockchain to receive accreditation from the Guinness World Records. With a significant increase in addresses from 170,000 to 3.5 million since 2022, the TON blockchain has experienced remarkable growth. Additionally, the network has expanded its validator nodes to 350, leading to a more decentralized network across 25 nations.
The upcoming performance testing event is vital in showcasing the distinctive capabilities of the TON blockchain, which serves as a trusted infrastructure layer for the Web3 ecosystem within Telegram. Anatoly Makosov, the Core Development Lead at the TON Foundation, expressed excitement for the event, emphasizing the TON blockchain’s technical superiority, especially in terms of scalability. This large-scale public performance testing will provide an opportunity to validate the blockchain’s technical excellence and witness significant results. Makosov’s statement reflects the enthusiasm shared by the TON Foundation and the community awaiting the outcome of this essential event.
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, has made a significant investment in The Open Network, marking MEXC’s largest Layer-1 funding. This investment is accompanied by a partnership with the TON Foundation. The Director of Growth at the TON Foundation, Justin Hyun, expressed enthusiasm about the collaboration, emphasizing their shared goal of providing global access to the decentralized Web3 ecosystem within Telegram. This partnership with MEXC will enable the foundation to develop new tools and services that seamlessly integrate cryptocurrency with social media platforms. The President of the TON Foundation, Steve Yun, highlighted MEXC’s belief in the TON blockchain’s potential for building a Web3 super-app ecosystem on Telegram. Both parties are confident in their mutual growth as they prepare for the next market cycle.
The collaboration between the Open Network Foundation, Alibaba Cloud, and MEXC Ventures signifies the increasing recognition and adoption of blockchain technology, particularly in the Web3 space. These partnerships aim to enhance the functionality, scalability, and accessibility of the TON blockchain while promoting global adoption and innovation within the decentralized ecosystem. As blockchain technology continues to gain prominence, these partnerships will play a crucial role in advancing its capabilities and utility.
At the time of writing, Toncoin, the native token of the TON protocol, is trading at $2,006, reflecting a marginal decline of 0.2% over the past 24 hours. Despite this temporary decrease, Toncoin has experienced substantial growth throughout the year, with an impressive increase of 59% during this timeframe. This growth further demonstrates the potential of the TON blockchain and its ability to attract market interest and investment.
The TON blockchain, in collaboration with Alibaba Cloud and MEXC Ventures, is embarking on a performance testing event to solidify its position as the fastest blockchain and showcase its unique capabilities. The expansion of addresses and validator nodes showcases the remarkable growth and decentralization achieved by the TON blockchain. With the support of MEXC Ventures, the TON Foundation is well-equipped to develop new tools and services that seamlessly integrate cryptocurrency with social media. These partnerships emphasize the increasing recognition and adoption of blockchain technology, and they contribute to the advancement of the TON blockchain’s functionality, scalability, and accessibility. Overall, the TON blockchain continues to make strides in the Web3 ecosystem and is poised for further growth and innovation.