Toncoin Price

What is Toncoin (TON)?

Toncoin is a native cryptocurrency of The Open Network (TON). It’s a decentralized layer-1 blockchain that was originally developed by Telegram’s founders Nikolai and Pavel Durov and uses the Proof of Stake (PoS) consensus mechanism. Toncoin is an important part of the TON ecosystem, allowing transactions, smart contracts, and the use of decentralized applications (dApps).

Toncoin’s usability is used in various ways, from paying transaction fees and staking for network security to participating in governance decisions. Basically, Toncoin is designed to provide a fast, scalable, and secure platform for transactions on the TON network. 

Built for mass adoption, The Open Network emphasizes high throughput, low latency, and support for large-scale applications like decentralized finance (DeFi) and non-fungible tokens (NFTs).

How to read the TON price chart to view the Toncoin price history today?

The Paybis cryptocurrency exchange platform is built to make it easy to buy TON or sell it. To provide more background information for every cryptocurrency available on Paybis, we also provide individual price charts that show real-time data on the price changes. Here’s a brief rundown of the price chart and how to check the Toncoin price now: 

• On the top of the TON price chart, select USD or any other from one of the +45 fiat currencies and this will immediately show you the exact TON to USD price at the moment of checking.
• Additionally, you can also choose a time interval ranging from 1 hour to 3 years to view how the TON value fluctuates. Every time period will show a unique TON price chart and the Toncoin price history for that period.
• Below the Toncoin price tracker, you can check what’s the Toncoin price today, and view the current market cap with the volume, highest price, and circulating supply of the last 24 hours.

Also, you can calculate Toncoin’s price online using our in-house TON calculator.

How does Toncoin work?

The TON blockchain uses the Proof of Stake consensus mechanism to secure the network.

For every transaction on the network, users typically have to pay Toncoins to initiate the transactions or smart contracts as fees. 

Validators come in to maintain the security of the TON network. They usually stake a certain amount of TON to participate in the block transaction validation process. For every validated block, the validators receive TON proportional to the original amount they staked. 

All Toncoin holders have the ability to participate in the governance of TON. The community's role is an integral part of the entire network, making it possible for the community to be involved in governance-related decisions like voting on protocol upgrades or policy changes.

What are the main features of Toncoin?

TON is a popular, decentralized, and highly scalable blockchain platform. Here’s a list of the main features of the TON network:

• Speed and scalability: The Open Network is built on a high-performance architecture to make it possible to handle millions of transactions per second.
• Low transaction fees: To allow more reach and availability, Toncoin offers low transaction fees, which makes it very popular for efficient microtransactions.
• PoS consensus mechanism: Toncoin uses Proof of Stake to validate all blocks to ensure the safety of the network.
• Interoperability: In addition to the speed and low-cost transactions, TON is also built to support cross-chain communication so that users can smoothly transfer their digital assets between blockchains.
• Community governance: Holding Toncoin allows users to participate in important network development decisions.
• Support for dApps: Toncoin’s interoperability and speed, make it a great blockchain for a huge variety of dApps like decentralized finance (DeFi) or even gaming.

When and how was Toncoin launched?

Toncoin was originally developed in 2018 by Telegram’s founders as part of The Open Network project as a whole. The initial idea was to create a highly scalable and fast blockchain for mass adoption.

In 2020, the project experienced some serious setbacks after legal battles with the U.S. Securities and Exchange Commission (SEC) because of the first token sale. That’s when Telegram stepped away from the project, which affected the Toncoin worth.

However, after Telegram’s exit, TON’s development was supported by open-source developers from the community. These actions successfully revived the project and allowed it to be launched as a decentralized project.

Finally, In 2021, Toncoin was relaunched under an open-source protocol. In comparison to other tokens which are distributed through ICOs, Toncoin is distributed via mining and staking.

Since 2021, Toncoin has been steadily rising in popularity as a decentralized platform for a wide selection of use cases.

FAQ

What is the price of one TON?

Like with all other cryptocurrencies, the price of Toncoin is also subject to constant changes. This makes defining an exact price not only difficult but also misleading as the price changes every single day.

That’s why the value of cryptocurrencies is tracked for some time, and one of the best ways to keep up to date with the latest live TON price change is to check Toncoin’s Price page on Paybis to see the current Toncoin price.

Who has the most TON?

There’s no public information about who exactly owns the most Toncoin, however, according to the latest data in October 2024, over 26% of TON belongs to a single person or entity. In comparison, the second party on the list owns a little over 12%.

How many Toncoins are left?

There’s a total amount of 2.54 billion TON circulation in today’s supply. The total amount equals 5.11 billion. This means that there’s approximately 2.57 billion TON left. 

How many people own 1 TON?

In October 2024, it was reported that TON experienced a massive 2400% increase in TON holders worldwide, adding up to around 90 million people. 

Why is TON’s price falling?

Despite the significant growth in TON holders, Toncoin’s price has been fluctuating and may continue to fall slightly in October. It’s suggested that one of the key reasons for that is due to the very same sudden growth in the TON acquisition. However, it’s too early to speculate, so it’s best to keep an eye out on how TON’s price will change in the upcoming months.

What is the highest price of TON in history?

The highest TON price in 2024 was recorded in August when the price reached approximately $8 per TON. Since then, the cryptocurrency has continued to experience a decline which is speculated to be a result of a sudden increase in TON holders.

Which wallet can I use to store my TON?

There are multiple crypto wallets you can choose to store your Toncoins. This also includes Paybis. Our native crypto wallet allows you to easily store and manage your digital assets. To get access, all you have to do is create a free Paybis account and choose the Paybis Wallet to store your Toncoins after purchase.