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The Open Network (TON) has continued to establish itself as an attractive venue for both web3 developers and users this year. Among other developments, the blockchain recently heralded the launch of a trustless bridge enabling bitcoiners to engage with TON’s various DeFi dApps. Prior to that, it revealed a new EVM-compatible Layer-2 that makes use of Polygon’s Chain Development Kit. Piece by piece, the TON ecosystem is accruing the kind of bells and whistles it needs to compete with leading chains like Ethereum, Solana and BNB Chain. Aided by the aforementioned developments, as well as the launch of USDT on TON in April, the Total Value Locked (TVL) in the network has surged by 27.6% in the last month, outstripping the growth of all other chains ranked above it by this metric per DeFiLlama. TON’s shardchain infrastructure means it’s well-equipped to support a flourishing DeFi landscape. Not only are the barriers to entry low (all you need is Telegram) but it boasts a ready-made global user base thanks to the messaging app’s popularity: 900 million and counting. Last year, TON set a new benchmark for throughput when it achieved 107,715 transactions per second – over 40,000 more than payment network Visa. In fact, the TON team says it can handle millions of transactions per second providing there are enough validator nodes in the network. A One-stop shop for TON interaction At present, the most popular gateway to all that TON has to offer – including viral mini-game Catizen which has 25 million players – is Tonkeeper, a noncustodial crypto wallet with a builtin browser.  The premier choice for various web3 projects including games and NFTs, this open-source Telegram-compatible wallet currently has over 30 million monthly active users, who appreciate the fact they can source and use their favorite dApps without exiting…

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Filed under: News - @ July 24, 2024 6:08 pm