Loading...

The Open Network (TON) Roadmap: 8 key features to expect in 2023

In this post:

  • Developers behind the Open Network (TON) put strategies in place to ensure a good 2023 for TON investors
  • A TON award event is fast approaching in Q1
  • Staking and on-chain voting take center stage in the roadmap development

The Open Network (TON) is the first and only 5th-generation blockchain platform. The 2023 roadmap is endowed with major developments. It was decided at the start of TON’s development by the think tank Binance. As the Durov brothers put it, the ultimate purpose of blockchain is to connect various cryptocurrency chains into one network, hence the term The Open Network.

TON is becoming increasingly encrusted with services and applications ranging from mobile wallets such as Tonkeeper and Tonhub to blockchain explorers such as TON Scan and Ton.page.

What is TON?

TON — which stands for “The Open Network” — is a community-driven blockchain project designed to enable fast transactions and support a wide variety of decentralized applications (dApps) (dApps). The project was founded by the same team that launched the popular encrypted messaging software Telegram.

However, after facing attention from the United States Securities and Exchange Commission (SEC), Telegram abandoned the initiative in May 2020. It was difficult to envision so many initiatives in the autumn of 2021. Moreover, TON followers only had Cryptobot on Telegram at the time, and a few more were already seniors.

TON roadmap explained

A blockchain roadmap is a document that explains a project’s goals and tactics and argues its potential worth. Roadmaps often incorporate project milestones, short- and long-term objectives, as well as marketing and development plans. It is a method used by investors to determine whether a project is worthwhile.

Before we proceed to the roadmap, let us highlight the blockchain developers’ punctuality; every planned release was completed within the time frame specified, even though it is not visually structured and lacks detailed overviews and guides. However, everything was done perfectly from a technical standpoint.

The Telegram Messenger team, led by brothers Pavel and Nikolai Durov, began investigating blockchain possibilities for Telegram Messenger in 2018. When they discovered that none of the current layer 1 blockchains could accommodate Telegram’s 9-digit user base, they decided to create their own layer 1 chain, which they termed the Telegram Open Network.

Telegram raised $1.7 billion in a private sale of TON tokens in the same year, making it one of the world’s largest cryptocurrency offers. In addition, the Telegram team released a series of documents explaining the design of the TON blockchain the following year, in 2019.

Telegram launched two TON testbeds, one in the spring of 2019 and the other in November 2019. However, the entity’s plans did not pan out. As a result, the US Securities and Exchange Commission charged Telegram with conducting an unregistered securities offering.

Telegram maintained that the SEC’s charges are false. However, the team agreed to delay the launch of TON until legal difficulties are settled. However, in March 2020, Telegram agreed to halt operations in the midst of the continuing dispute.

The Telegram team ceased the development of TON and support for testnet2 in May 2020. Furthermore, the club agreed to refund monies to investors and paid $18.5 million in compensation.

In 2021, NewTON, a small open-source development team, dug deep into the TON codebase, architecture, and documentation. They restarted active TON development in accordance with the design outlined in the TON source documentation.

Later that year, the TON-ETH and TON-BSC bridges were built. These bridges enable cryptocurrency owners to “move” their assets between blockchains. In addition, the coin was listed on major cryptocurrency exchanges the same year.

The year 2022

The roadmap for 2022 ensured a fantastic year for the entity. The team spent the first quarter working on TON Nominators, TON DeFi, and the TON Developers Program. The team concentrated on the TON DNS and TON payments in Q2.

TONS of payment options. It allows you to set up a payment channel between two participants and then make as many instant micropayments as you want between them for free. You are only charged for channel creation and closure.

TON Proxy was founded in Q3. These are network protocols that allow nodes to communicate and exchange data with one another. The network is now so powerful and adaptable that when combined, it is equivalent to a next-generation Internet.

The team also developed TON Sites. You can use this service to host your own website on the TON network. Finally, the development team released TON Storage at the end of last year. The system is intended for safe file storage of any size in the decentralized TON network.

What to expect in 2023?

In 2023, much more is expected to happen. The roadmap is as follows; The team will begin work on the Token Bridge in the first quarter. These Crosschain tokens are created on the Ethereum or BNB Smart Chain and transferred to the TON Blockchain. TON Connect is another option. This protocol is used to communicate between TON applications and wallets.

The roadmap focus will next shift to Tokens Guidelines and Tools. Examples of code to input and output tokens and NFT for exchanges, payment systems, and bots will be provided. To prevent users from freezing tokens, wallet standards have been developed. Application for defrosting. These are the new developments.

  •  Lockup and Vesting Tools. These are handy smart contract vesting tools that many TON startups need.
  • There will be TON Awards 2022. These are Awards for the best non-profit open-source community development in 2022.
  •  Network config adjustment. This will Adjust network configuration settings to improve network security and stability.
  • Tokenomics optimization voting. This is a vote between validators for a tokenomics optimization proposal that allows inactive mining wallets to remain inactive for a certain period of time.

Roadmap for 2023 Q2

An Elector and Config Update is planned, simplifying the construction of smart contracts for staking and allowing staking pool members to vote in online on-chain voting.

Staking Contracts for DAOs and Liquidity. This is a universal DAO smart contract with nearly no constraints, as well as a new staking pool (nominee pool) smart contract. Tokens will be used to safeguard the user’s voting rights and pool shares.

DeveloperLibraries will follow. Some developer libraries require updating. In addition, many new libraries in many languages have been created. TON must ensure that all of these libraries communicate with one another.

  • Tokenomics Deflation Mechanism. This is a mechanism to burn some of the network commissions.
  • Decentralized Encrypted Messaging. This will turn wallets into decentralized encrypted messaging.
  • Address Reform. This is an improvement of the TON Wallet address format for a better user experience.
  • TVMUpdate. Support for EVM (electronic computing machine) signature verification and other new TVM (terminal computing machine) features.

2023 Q3

  • The introduction of a Jetton Bridge that enables cross-chain transfers of tokens created on TON Blockchain to Ethereum or BNB Smart Chain.
  • Polygon Toncoin Bridge; to enableToncoin cross-chain transfers between TON Blockchain and Polygon.
  • Extra-currencies. It will be built-in extra-currency technology for the most popular cryptocurrencies.
  • ETH, BNB, BTC Bridge; to enable cross-chain transfers of Bitcoin, ETH, and BNB onto TON blockchain.
  •  Scalability and speed showcase. It is designed to be a demonstration on a test network showing how TON can handle a huge number of transactions and still scale under load.
  •  Scalability and speed showcase. A demonstration on a test network showing how TON can handle a huge number of transactions and still scale under load.

Finally 2023 Q4

In the last quarter of 2023The team will launch a Collector and Validator separation. This is the separation of the validator into two separate units, the collator (actor forming new blocks) and the validator, which will allow the TON blockchain to handle a very large load.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Turkish crypto kingpin Faruk Fatih Ozer starts 11,000 year jail term
Cryptopolitan
Subscribe to CryptoPolitan