TON (blockchain)
 | A major contributor to this September 2024 appears to have a close connection with its subject. (August 2025) |
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| The Open Network | |
|---|---|
 | |
| Other names | TON |
| Original author | Nikolai Durov |
| Initial release | 6 September 2019 |
| Repository | github |
| Platform | Blockchain, Distributed computing |
| Type | Blockchain, Cryptocurrency |
| Website | ton |
The Open Network (TON), previously known as the Telegram Open Network, is a decentralized layer-1 blockchain. TON was originally developed by Nikolai Durov, co-founder of the Telegram messaging platform.[1][2]
Telegram had planned to use TON to launch its own cryptocurrency (Gram), but was forced to abandon the project in 2020 following an injunction by US regulators. The network was then renamed.[citation needed]
History
[edit]The Open Network (TON) began in January 2018, when Telegram Messenger Inc. and TON Issuer Inc. started selling "Gram" tokens to finance development of the Telegram Open Network blockchain, ultimately raising US$1.7 billion across two private SAFT rounds.[3]
Peer-to-peer transfers inside Telegram via the @wallet bot became available in April 2022.[4]
In April 2024 Tether (USDT) issued a native TON version.[4]
References
[edit]
- ^ Ray, Siladitya. "Telegram-Linked Toncoin Slumps 20% Since Pavel Durov's Arrest—As Crypto Industry Calls For Billionaire's Release". Forbes. Retrieved 2025-10-04.
- ^ Weeks, Ryan; Kharif, Olga (2025-07-24). "Ton Foundation Seeking to Join Crypto Treasury Company Trend With Toncoin Pitch". Bloomberg.com. Retrieved 2025-10-04.
- ^ "SEC Halts Alleged $1.7 Billion Unregistered Digital Token Offering". U.S. Securities and Exchange Commission. 2019-10-11. Retrieved 2025-05-17.
- ^ a b Howcroft, Elizabeth (9 May 2024). "Cryptoverse: TON takes off on Telegram tie-up". Reuters. Retrieved 26 January 2026.
