The minds behind Telegram’s Open Network (TON), an upcoming Blockchain platform, have put out new information surrounding their anticipated new project. The corporation has unveiled new technical details and intricacies surrounding the different versions of the software platform.
According to renowned news sources, the TON network will be competing with other premier platforms such as Polkadot and Cosmos. With respect to the scale of attention and the volume of audiences it will receive, TON looks to build a significant higher ground over its competitors, given that the company has already amassed 300 million users across the world.
TOS to use proof PoS Technology
In order to achieve higher performance through its digital infrastructure, the network will be using proof-of-stake(PoS) technology. A wide range of blockchain networks, including the platform’s current competition, Polkadot and Cosmos, as well as the upcoming Ethereum 2.0, are built on the PoS technology. The alternative model, known as Proof-of-Work (PoW) is utilized by Bitcoin and the current version of Ethereum. This technological premise allows a slower processing speed, with just seven to fifteen transactions per second.
Smart Contracts, Sharding and Masterchains
Smart contracts happen to be a major instrument in developing distributed ledger technology (DLT) and networks dependent on them. TOS is going to utilize unified information hubs backed by smart contracts. The privacy and security of the assets composed in these databanks is reinforced using conditions in the contracts.
The platform will also utilize sharding, a technique in which the entire network is split into tinier elements or components called shards. Every single ‘shard’ maintains an independent fragment of the transaction history and the overall network.
Based on the design documents released by the corporation, the TON platform is going to incorporate uses Proof of stake (PoS) based technology while also ensuring high quality scaling through sharding. Reports also indicate that this network will engage in something referred to as ‘Masterchain’, in which multiple integrated ‘workchains’ will be managed in a centralized environment.