After starting the mainnet, Tron is dead
The Telegram project TON is dead - Free TON is in the starting blocks
The regulatory authorities put an abrupt end to the Telegram ICO, but the project's open source code lives on - Free TON is taking advantage of this.
The decentralized proof-of-stake network Free TON aims to be a community-controlled smart contract platform. The project is based on the open source code of Telegram's blockchain project. In contrast to the TON (Telegram Open Network) (which failed due to regulation), Free TON never had an ICO and will not have a token sale either. The developer community behind Free TON has also fundamentally changed other properties of the Telegram project.
Free TON implements a distribution model that wants to revolutionize tokenomics. In doing so, the project aims to outperform popular proof-of-stake networks such as Kosmos, Polkadot and, in the meantime, Ethereum.
In the past, Telegram's old token model had a lot of issues with regulators. After its ICO, the project clashed with the Exchange Commission (SEC). The authority asked Telegram to view the accounts immediately. Telegram then consented and a few months later handed over all the necessary documents to the SEC. Despite the recurring problems with the regulatory authorities, the TON developer community initially remained optimistic and announced in April that no one could prevent the start of an open source project.
What is the difference between the Telegram Token and Free Ton?
There are some differences between the old TON and the new Free TON token. Telegram as a messaging platform and as a company has publicly distanced itself from the project. Free TON now wants to put the community at the center of the new decentralized ecosystem and uses the open source code from Telegram for this.
In addition, the decentralization of the network and the governance by the community should form the core of the project. The distribution of the tokens is not decided by Telegram, but the TON Community determines how the distribution should take place. You currently receive tokens if you actively participate in the development of the TON ecosystem. The TON validators decide how the tokens will be handled in the future. The Free TON mainnet is scheduled to go live on December 22nd and it is expected that there will be around 400 Free TON validators at the beginning.
Bitcoin.com CEO believes in the future of Free TON
Danish Chaudhry, CEO of Bitcoin.com, recently shared his opinion on Free TON:
All smart contract platforms aim to develop the fastest and most powerful blockchain. Free TON comes pretty close to that goal and takes the crypto community one more step forward.
He is also pleased that the project based on Telegram's open source code has chosen Bitcoin.com. The TON community then replied that they were pleased that the Exchange believed in the values of Free TON.
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