PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the upcoming listing of TON on the 14th of December 2020 at 17:00 UTC. Bitcoin.com Exchange will be the first major cryptocurrency exchange in the industry to list Free TON on the platform. Founded in May 2018, TON Labs is the core developer of Free TON, a decentralized community focused on developing the infrastructure and free software for TON OS. TON will be listed with BTC and USDT trading pairs.
What is TON Labs?
TON Labs believes that decentralization will bring the necessary changes to the way the world is being run today. All TON Labs’ internal processes are predicated on a merit based system. Widely known as an underrated token by the crypto community, due to its current stance of active validators compared to its circulating supply.
The community behind TON Labs believes that the principles of free software allow to effectively develop advanced, sustainable products and services that contribute to and benefit from the greater community. TON Labs is fully committed to the privacy of user data and security of its software as a mandatory condition for success, aiming to provide developer communities with a set of free software tools to build infrastructure and applications for optimal interaction with decentralized solutions. The community aims to facilitate the adoption of technology and decentralized ecosystems accordingly, all of the essential components of the TON Labs developer stack are available as open source.
What is Free TON?
Free TON is a peer-to-peer multiblock system built on the TON protocol with a native token called TON Crystal (TON). Free TON states it is a community project which uses the Telegram developed open source “TON OS” as a virtual Operating System to run smart contracts and decentralized applications. TON OS is designed as a decentralized operating system to handle decentralized applications. Boasting more features than the Ethereum Virtual Machine which only strictly runs code.
The decentralization of a proof-of-stake blockchain network is achieved by:
- Several independent validators, so there is no single interested party.
- Public TONs distribution among many users to prevent centralization of staking power.
- Several teams of developers are working on the protocol design, including its specifications, core software, and compilers.
Free TON is close to exceeding 400 validators by the time of an anticipated mainnet announcement scheduled for December 22, 2020. This makes Free TON the most decentralized PoS network. Importantly, these validators were chosen through a series of contests in Q3 2020 where teams were competing on performance. Partnerships can be found here.
Why should one choose TON?
Free TON would like to provide equal economic opportunities for people around the world with a new, more effective way to govern public finance, without the external influence from political elites. The creators of the project firmly believe in freedom of speech, information sharing, and free software. The main objectives of Free TON:
- To allow continuous debugging and development of the Free TON protocol
- To drive the wide adoption of decentralized solutions by millions of users
- To accommodate future development scenarios
- To ensure that original protocol developers can participate once it is permitted
- To ensure uniform development of a single network and to discourage unnecessary forking
Free TON is a high-tech project with a strong underlying infrastructure and development plan. It claims to be the fastest blockchain currently, with the highest performance and lowest latency. The network is capable of 40 to 60 thousand operations per second. Free TON is the first blockchain with Dynamic Mapping (automatic data refresh).
Free TON also boasts several big corporate partners within the community, these consist of companies and entities like; WorldChess, AdGram, Chatex, Cointelegraph, Changelly, Sigma, Lumi, Playkey, ZB.com and many more. Other partners can be found here.
Key Differences between TON & Free TON
Key differences between the original vision of TON and the Free TON as it stands today can be summarized in three key statements:
(a) No corporate entity behind – Telegram as a messaging platform and as a business has publicly abstained from being involved further. Today, the community is both the founding fathers and the key asset of the Free TON as an ecosystem.
(b) The protocol is built upon the ideals of decentralization upon both, the network and the governance layer.
(c) Distributional decentralization – the distribution of tokens happens as this is being written on a per-merit basis based on the proposals that are submitted on the Free TON Community Forum and voted for by the community and the validators.
Strong Endorsement
Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on Free TON and the listing of their crystal tokens on the exchange: “The fastest, with the highest performance, and the lowest latency out of all blockchains is the dream of all projects being developed in the industry at the moment, and with Free TON, the community is achieving this, marking another step forward for a decentralised world. I’m pleased to work and discuss thoughts on new upcoming innovations with their incredible community, and I am very pleased to have the token listed on the exchange. More great things to come, so stay tuned!”
Upon the upcoming news, we found that Free TON’s collective community voice said; “We are happy to see Bitcoin.com Exchange believing in the values of Free TON as evidenced by the decision to list TON crystal tokens”.
About Bitcoin.com Exchange
The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, our exchange has been visited by more than 500K active traders per month, and this number continues to grow as you read this sentence.
About TON Labs
Free TON is a community powered movement for a free and open decentralised internet. It’s a next-gen blockchain technology that belongs to no one and to everyone at the same time. The network does not have an owner or centralized management that decides what should be done or when, nor what tools or projects should run on it. Instead, Free TON practices decentralized governance principles empowering the community to engage, contribute and make decisions. Technology-wise Free TON is the first multi-threaded, multi-shareded, highly scalable blockchain with low latency. It has an advanced Proof-of-Stake consensus and versatile smart contract platform supporting several high level computer languages. Free TON promotes a unique concept of End-to-End Decentralization.
Media Contact
Antonio Bileci
PR at Bitcoin.com Exchange
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image Credits: Shutterstock, Pixabay, Wiki Commons
