The Open Network (TON): From Telegram Vision to Web3 Superpower

TON originated in 2018 as the Telegram Open Network, developed by Pavel and Nikolai Durov to integrate blockchain features such as payments and digital services into the Telegram ecosystem. The project was discontinued in 2020 following a settlement with the U.S. SEC.

From there, the project evolved. Independent developers took the open-source code further, rebranding the initiative as The Open Network, governed by the TON Foundation, which was incorporated in Switzerland in 2021. This marked a pivotal shift from corporate stewardship to community-led decentralization.

TON is built on a multi-blockchain architecture, with a masterchain that coordinates multiple workchains. Each workchain can be further divided into shardchains, enabling parallel processing and horizontal scalability designed to handle high transaction volumes.

Inter-chain communication is powered by hypercube routing, enabling low-latency transfers across the network. Consensus is achieved via a Proof-of-Stake (PoS) algorithm with Byzantine Fault Tolerance (BFT), ensuring both security and efficiency.

The network’s Virtual Machine (TVM) supports multiple smart-contract languages, Fift, FunC, Tact and Tolk, enabling robust contract development, analysis, and verification.

The TON ecosystem offers a wide range of integrated, decentralized services designed to support both developers and everyday users. At the center of this ecosystem is Toncoin, the native utility token, which powers transaction fees, staking, governance, smart contracts, and key network services such as storage and proxy operations.

Beyond its currency, TON provides a decentralized naming system through TON DNS, which allows users to register simple, human-readable .ton domains that link directly to blockchain addresses and services. Complementing this is TON Sites, a platform for decentralized web hosting where content can be stored either on-chain or via the network’s storage layer.

That storage layer, known as TON Storage, functions as a distributed file-storage system in which participants are rewarded in Toncoin for hosting and retrieving data. In parallel, TON Proxy enables privacy-enhancing connections and censorship-resistant routing, ensuring that services remain accessible and secure across jurisdictions.

Finally, TON Payments supports fast and inexpensive micropayments using off-chain channels, in a design comparable to the Bitcoin Lightning Network. Together, these components create a versatile blockchain environment that merges financial tools, web infrastructure, and privacy features into a single decentralized network.

TON also hosts a growing set of DeFi protocols. Tonstakers, the leading liquid staking service on the network, allows users to stake Toncoin in exchange for tsTON, a liquid token that can be deployed across applications. The protocol offers instant withdrawals and has been widely integrated into TON wallets. By 2025, it accounted for around 80% of all Toncoin held in liquid staking.

Other projects form the backbone of TON’s DeFi activity, including STON.fi, a decentralized exchange; Tonkeeper, a popular self-custodial wallet; and Telegram-based solutions such as Wallet and TON Space, which give Telegram’s user base direct access to Toncoin and DeFi services inside the messaging app.

One of TON’s core strengths is its tight integration with Telegram, a messaging app with nearly a billion users. Starting in April 2022, Telegram introduced peer-to-peer Toncoin transfers via an in-app @wallet bot, later upgrading in 2023 to a self-custodial interface called TON Space.

This integration has been a major driver of adoption, introducing blockchain features to millions of Telegram users within a familiar chat environment. Toncoin’s value has strengthened alongside this rollout, with its growth widely linked to Telegram’s support and the expanding use of in-app wallets

In April 2025, the TON Foundation appointed Maximilian Crown, formerly CFO/COO of MoonPay, as its CEO, bringing leadership with strong payments and regulatory experience that suggests a push toward infrastructure enhancement and broader mainstream integration.

The network has also attracted institutional backing. In May 2024, Pantera Capital made an eight-figure investment in toncoin, citing Dubai’s favorable regulatory climate and strategic plans for a Toncoin-powered ad network within Telegram’s ecosystem.

From its tumultuous start under Telegram, TON has grown into a consolidated, community-driven blockchain suite with real-world utility. Its fast, scalable architecture, combined with Telegram integration, establishes it uniquely positioned at the convergence of messaging, payments, DeFi, and decentralized internet applications.

As TON expands with governance tools, ecosystem grants, and growing DeFi infrastructure, backed by leadership and institutional investment, it is rapidly becoming a vital player in the Web3 era.