Toncoin (TON) Price History

Toncoin (TON) Markets

What is Toncoin?

Toncoin is a blockchain network originally created in 2018 by Telegram, the popular messaging app. At the time, Telegram raised $1.7 billion in private funding to build its new blockchain, which was meant to be a competitor to Ethereum. The ‘ton’ in Toncoin is short for The Open Network. However, before Toncoin officially launched, Telegram abandoned the project. The reason is that the US Securities and Exchange Commission (SEC) sued Telegram over Toncoin, alleging that $TON was a security. After Telegram abandoned Toncoin, developers unaffiliated with Telegram picked up the project. Newton, which is now Toncoin, took over the ton.org domain name and the Toncoin code repository in 2021. That same year, Toncoin launched the Toncoin blockchain and the $TON token. Since then there have been new projects that have jumped on the Ton blockchain bandwagon including $TEPE and $FISH which are now the best Ton meme coins in 2024. Although Toncoin is independent from Telegram, Telegram’s founder and CEO Pavel Durov posted on Telegram about the project in 2021. He gave his endorsement to Toncoin while maintaining that Telegram has no remaining links, financial or technological, to $TON.