Latest Developments in Toncoin (TON)
2024-07-10
Bittime - The TON blockchain has announced a new project called TON Applications Chain (TAC). The announcement was made at the Ethereum Community Conference (EthCC) in Brussels, Belgium, on Tuesday. This project will utilize two technologies from Polygon, namely Chain Development Kit (CDK) and AggLayer.
The Open Network (TON) Statement
In an announcement on Tuesday, The Open Network (TON) stated that they would be working on this new project. TON confirmed that their new layer-2 network will be developed using technology from Polygon. Specifically, the project will leverage Polygon's Chain Development Kit (CDK) and AggLayer. The development team states that this project is designed to allow Ethereum developers to create new programs for Telegram users.
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The announcement also confirmed that the project will enable EVM-based decentralized applications to function within the TON ecosystem. TON emphasized that this project will open new avenues for the development of decentralized applications on the TON network. This project is expected to encourage developments in the gaming sector and provide decentralized identity solutions.
TON Expands Information about New Projects
TON has made a name for itself in the crypto world by developing a network that leverages Telegram's user base. This blockchain network has experienced much success and growth since its launch in 2020. Leveraging millions of Telegram users, it has grown steadily over the past few years. This new project builds on previous successes and aims to continue the development of the network to support the growth of decentralized applications.
The development team announced that they will use Polygon's Chain Development Kit (CDK) to develop this network. CDK is a customizable toolkit that allows developers to use Polygon's zero-knowledge technology to develop layer-2 blockchains. The project will also use Polygon's interoperability layer, AggLayer, to address blockchain fragmentation.
Pavel Altukhov, founder of TAC, said that the features of Polygon's technology were part of the reason for choosing this platform. He also mentioned that the blockchain platform has a community that matches what they want for the TAC project.
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New Project Benefits for TON Users
The development team believes that by leveraging Polygon technology, they will be able to increase scalability and efficiency for TON users. This integration is expected to reduce transaction costs and increase throughput. These features are in line with TON's goal of providing a robust and scalable blockchain solution for its users.
TON Follows Industry Trends
The announcement of the TAC project follows similar moves in the crypto industry. In the past year, other major crypto companies have begun developing their own layer-2 networks. Crypto exchange Coinbase was one of the first to announce a layer-2 network project. The exchange launched its Base blockchain, which leverages Optimism's OP Stack.
Other major crypto companies following this trend include Worldcoin and Celo. Both companies have announced plans to launch layer-2 roll-up with OP Stack. Crypto exchange OKEx also got in on the action, using Polygon's CDK to develop their layer-2 network, X Layer, which launched in April.
Conclusion
With this latest development, TON continues to demonstrate innovation and leadership in the blockchain world, paving the way for a more decentralized and efficient future.
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