What is Toncoin (TON)?

In the crypto world, there are projects that sometimes quietly emerge but then suddenly make a powerful return. Toncoin fits this description perfectly. Behind it lies the shadow of a giant platform like Telegram, a journey reshaped by community support, and a technically ambitious infrastructure. Toncoin is a digital asset we've been hearing a lot about in the crypto world lately. So, what is Toncoin? Simply put, Toncoin is the native cryptocurrency of The Open Network (TON) blockchain. Initially developed by Telegram, this project emerged with the promise of high speed and scalability. In fact, due to the project's origins, Toncoin is sometimes referred to as "Telegram coin." In this guide-like article, we will cover all the details of Toncoin, from its origins to its technical specifications, its use cases, and its future prospects.

Toncoin Definition and Origins

Toncoin was developed as the native cryptocurrency of The Open Network (TON) blockchain. Launched in 2018 by Telegram founders Pavel and Nikolai Durov, the TON project was initially known as the "Telegram Open Network" and was announced alongside its own cryptocurrency, Gram. The goal was to build a high-speed and scalable Layer-1 blockchain that would support Telegram's hundreds of millions of users. Indeed, thanks to its technical architecture, TON was designed to theoretically serve millions of users. For example, the network structure consists of a masterchain and numerous subchains (workchains) operating beneath it; each subchain can be sharded to create new subchains as needed. This allows TON to achieve unlimited horizontal scalability.

In short, the TON blockchain was a revolutionary project, particularly for its time, aiming to fully implement the "sharding blockchain" concept.

However, the project faced rocky roads from its very beginnings. Announced in 2018 and generating considerable excitement, the Telegram blockchain project TON faced a block from the US Securities and Exchange Commission (SEC) in 2019. The SEC filed a lawsuit against the project, claiming that the Gram token sale constituted an unregistered security sale. As a result, the Telegram team was forced to withdraw from the project in 2020 after a lengthy legal battle. Telegram released all of its TON-related code as open source, officially ending the Gram coin project.

At this point, independent developers and the community entered the scene. Open-source developers, eager to pick up where Telegram left off, adopted the TON codebase and revived the project. The TON Foundation (a non-profit foundation), established in 2021, began supporting the network's development and named its token Toncoin. So, while the name Gram was lost to history, a new community project with the same technological vision came to life under the name Toncoin. Pavel Durov even expressed his support for this new TON project, driven by the community, in a statement in December 2021, calling it "a continuation of our vision."

Toncoin's application areas are also quite broad. What are Toncoin's benefits? First, Toncoin aims to be an ideal tool for micropayments, offering both fast transaction confirmation and low fees. Furthermore, NFT trading, decentralized finance (DeFi) applications, and other Web3 services have begun operating on the Toncoin network. For example, once the smart contract infrastructure becomes active on the TON blockchain, NFTs, such as digital collectibles and in-game assets, can be created and traded. Similarly, DeFi protocols such as blockchain-based lending and decentralized exchanges are also developing on TON. Ultimately, Toncoin aims to enable fast, cheap, and user-friendly transactions, enabling the use of crypto in everyday life.

Toncoin's History: Key Milestones

Looking at Toncoin's history, several critical milestones stand out. Below, we've summarized the key developments, including Toncoin's launch date, in chronological order:

• 2018: The Telegram team announced the Telegram Open Network (TON) and its native token, Gram. Approximately $1.7 billion was raised in private sales for the project. This was one of the largest fundraisings in the crypto world to date, and Gram, also known as the "Pavel Durov coin," generated significant buzz.
• 2020: Following a lawsuit filed by the US SEC, Telegram halted the TON project. Due to the SEC's block, the Gram token distribution was canceled, and Telegram withdrew from the project, returning $1.2 billion to investors. As of June 2020, Telegram's official TON journey ended.
• 2021: Following Telegram's withdrawal, the open-source community took over the project. Led by developers such as Anatoliy Makosov and Kirill Emelyanenko, the TON Foundation was established, and the network was revitalized. With this newfound momentum, the token was named Toncoin. By the end of the year, the Toncoin network had gained strength with the support of Pavel Durov.
• 2022: Important technical features and products were launched on the TON blockchain. The network began fully implementing staking with a Proof-of-Stake consensus mechanism. Developers created NFT marketplaces and collections on TON, and the first smart contracts became operational. In July 2022, TON DNS was announced, and human-readable domain names with the .ton extension were auctioned. Later that year, TON Storage, a decentralized file storage solution, was launched.
• 2024: The Telegram and TON ecosystems reconnected, and integration steps were taken. The Toncoin wallet and Web3 features began to be integrated within the Telegram app. Telegram's mini apps platform, in particular, has evolved into a platform for running blockchain-based applications called TON Mini Apps. By the end of 2023, Telegram adopted the TON blockchain as its official Web3 infrastructure, and this integration was rolled out to the masses throughout 2024. As a result, TON-based mini apps became widespread within Telegram and reached millions of users. Indeed, by July 2024, mini apps on Telegram had reached 500 million monthly users.

• 2025: In April 2025, the TON Foundation appointed former MoonPay CFO/COO Maximilian Crown as its new CEO. In July 2025, the TON Foundation announced its goal of raising $400 million in investment to create a crypto treasury company with the globally recognized Kingsway Capital Partner. Network performance also improved in the first half of 2025, with the number of active addresses increasing by 5%. Meanwhile, STON.fi emerged as the largest dApp on the TON network, receiving a $9.5 million investment led by Ribbit Capital and CoinFund. First Digital USD (FDUSD) stablecoin was integrated into the TON network as its native stablecoin. Ethena’s USD e-Boost campaign launched the opportunity to earn up to 20% APY on tsUSDe tokens across four DeFi platforms. Also in July 2025, Telegram added native TON Wallet support in the US; Users can now access their own wallet within Telegram, conduct transactions, and stake transactions.

Why is Toncoin Valuable?

There are several key technical features and advantages that underlie the popularity of the Toncoin project. First and foremost, the TON blockchain boasts impressive performance in terms of speed and scalability. During a public test conducted in 2023, the TON network broke a world record among existing blockchains by processing approximately 104,715 transactions per second. Furthermore, this test demonstrated that the network has not yet reached its full capacity; with sufficient nodes, it is stated that it could theoretically reach millions of TPS. This extraordinary speed and capacity are among the key factors that make Toncoin valuable. We have listed Toncoin's key advantages below:

High transaction speed

The TON network's architecture is designed to process hundreds of thousands of transactions per second. Thanks to dynamic sharding, when the network load increases, new chains are activated to process transactions in parallel. Indeed, in practical tests, TPS exceeding 100,000 have been achieved. This speed makes TON extremely suitable for financial transactions and micropayments.

Scalability with Sharding

Sharding technology allows TON to scale horizontally. Instead of a single blockchain, the network is divided into multiple interconnected subchains. As load increases, new shardchains are automatically created to distribute the load. When load decreases, the shards merge again. This allows for flexible performance scaling and prevents network congestion.

Rich Web3 Infrastructure

The Toncoin ecosystem isn't just about cryptocurrency transfers; it also offers comprehensive Web3 solutions. For example, TON DNS is a domain name system that makes blockchain addresses human-readable (e.g., user.address.ton). TON Storage operates as a decentralized cloud storage service, allowing files to be stored on a distributed network. TON Proxy provides a Tor-like privacy layer that aims to anonymize internet traffic.

Telegram Integration

Another aspect that makes Toncoin unique is its access to the user base of a massive platform like Telegram. As of September 2023, TON was officially positioned as Telegram's Web3 infrastructure. This means the Toncoin wallet is embedded within the Telegram app, allowing crypto transfers without leaving the chat screen. Telegram currently has over 900 million active users, and TON is the only blockchain network capable of reaching this audience. For example, it's possible to tip with Toncoin while chatting on Telegram, pay for channel subscriptions, or earn money by playing games. Thanks to this integration, Toncoin has gained a tremendous advantage in integrating crypto into daily life.

Low transaction fees and a user-friendly experience

Transaction fees on the TON blockchain are extremely low, and fees remain predictable regardless of network congestion. An average block time of around 5-6 seconds means near-instant confirmation. Users can use simple names (thanks to TON DNS) instead of complex wallet addresses, and a natural experience within the Telegram interface also lowers the barrier to use. In short, TON aims to make Web3 as easy as Web2, fostering widespread crypto adoption. Particularly driven by Telegram's influence, there's considerable optimism within the community about the future of TON coin.

For those unfamiliar with concepts like TON DNS and TON Storage, let's briefly explain. TON DNS is a system that translates long, complex crypto addresses into readable short names, similar to internet domain names (for example, domain names like alice.ton correspond to wallet addresses). What is TON Storage? It's a decentralized file storage network running on the TON blockchain, allowing you to securely store your files in a distributed manner. Similarly, TON Proxy can be thought of as a proxy/anonymity layer that hides users' IP addresses, providing more private and secure internet access. Each of these components is a key component that enhances the value of the Toncoin ecosystem.

Who is the Founder of Toncoin?

So, who owns Toncoin? The answer to this question should be considered by considering the project's two distinct periods. The founders of the TON network and its initial token model are Pavel Durov and his brother Nikolai Durov, who are also founders of the popular messaging platform Telegram. They were the ones who conceptualized the TON project and announced the Gram token plan in 2018. Nikolai Durov is also known as the author of TON's technical whitepapers; in short, we can call it TON's original architect. Therefore, the Durov brothers' vision lies at the heart of Toncoin (hence the term "Pavel Durov coin" in the industry).

However, after the SEC block in 2020, the Durov brothers withdrew from the project entirely, and Telegram halted all TON-related work. From this point on, the community, rather than any specific individual, became the primary figure as Toncoin's founder. The open-source code left by Telegram was entrusted to independent developers. The team continuing the project after 2020 consists of open-source developers and volunteers from the TON community from around the world. To support this volunteer effort with an institutional structure, the Switzerland-based TON Foundation was established in 2021. The TON Foundation continues to operate actively today as an umbrella organization that coordinates and finances the network's development activities.

Currently, the Toncoin network is operated in a decentralized manner by global validators. This means that neither Telegram nor the TON Foundation control the network alone; decisions are made by the community and the validators. Even when Telegram founder Pavel Durov was briefly detained in 2024, the TON blockchain continued to operate without any interruption.

Pavel Durov's involvement with the TON blockchain can be explained by the following points:

• 2018 → Telegram announced the TON (Telegram Open Network) project and the Gram token.
• 2019 → The US Securities and Exchange Commission (SEC) filed a lawsuit against Telegram.
• 2020 → Telegram withdrew from the project; the Gram token was canceled. Pavel Durov announced that they had returned investors their funds and ended the project.
• 2021 → Independent developers revived TON and launched it under the name Toncoin.
• December 2021 → Pavel Durov announced his support for the new TON project, maintained by the community.
• 2023 → Telegram resumed its collaboration with the TON Foundation. Toncoin began to be integrated into Telegram's Web3 infrastructure.
• 2024 → TON Wallet was integrated into the Telegram app, and mini-apps began to be built on TON.
• 2025 → Staking, transfers, and Web3 transactions became widespread and available to users on Telegram.

Frequently Asked Questions (FAQ)

Below are some frequently asked questions and answers about Toncoin:

• What is Toncoin and why is it important?: Toncoin is the native cryptocurrency of The Open Network (TON) blockchain. This coin's importance stems from its ability to integrate with a major platform like Telegram and its potential to bring blockchain technology to millions of users. In other words, Toncoin is notable for its advanced technical features (speed, scalability, and low fees) while also being seen as a significant project that will accelerate crypto adoption by finding a practical application in daily life through Telegram.
• How did Toncoin come about?: Toncoin's origins stem from the TON (Telegram Open Network) project announced by Telegram in 2018. Designed by Pavel and Nikolai Durov, this project was initially planned to launch with a token called Gram, but was halted by an SEC block in 2020. After Telegram's withdrawal, independent developers took over the code and relaunched the network under the name Toncoin in 2021. In short, Toncoin was born from the community's continuation of the vision initiated and left by Telegram.
• What is the relationship between Toncoin and Telegram?: There is an organic connection between Toncoin and Telegram. First of all, the Toncoin project is rooted in Telegram's vision, as it was initiated by the founders of Telegram. Today, Telegram has integrated Toncoin and the TON network into its ecosystem. For example, you can use the Toncoin wallet (TON Wallet) within the Telegram app, send Toncoin without leaving chats, or run TON-based mini-apps. In short, Telegram adopted TON as its blockchain infrastructure, and Toncoin has become a cryptocurrency that reaches millions of users through Telegram. This integration creates a win-win situation for both parties: Telegram users gain easy access to crypto services, while Toncoin gains a large user base.
• Is Toncoin centralized or decentralized?: The Toncoin network is decentralized. While initially developed by Telegram, the network is now controlled by thousands of validators and community management spread across the globe. Toncoin's consensus mechanism, Proof-of-Stake, ensures the participation of many independent validators to secure the network. Telegram does not directly manage the network; in fact, it continues to operate the TON blockchain independently of Telegram. For example, even when Telegram founder Pavel Durov faced a brief legal dispute in 2024, the TON network continued to operate without interruption. This demonstrates that the network is not dependent on a single person or central authority; rather, it has a distributed structure.
• How does Toncoin differ from networks like Ethereum?: There are several key differences between Toncoin (TON) and Ethereum. First, TON is sharding-based by design, providing higher transaction capacity and speed. Ethereum, on the other hand (despite updates), still largely addresses its scaling issues with second-layer (Layer-2) solutions and can only manage a limited number of transactions on a single chain. The second key difference lies in user experience and integration. Toncoin's integration with Telegram allows users to use crypto without the hassle of specialized wallets, browser extensions, or long addresses. Ethereum-based applications, on the other hand, typically require external wallets like MetaMask, complex interfaces, and gas fee calculations. Furthermore, compared to transaction fees, gas fees on TON are much lower and designed to remain stable. In summary, while Ethereum is the leader among first-generation smart contract platforms, TON differentiates itself by offering a faster, cheaper, and more user-friendly alternative, offering a more mass-market solution. It's also worth noting that Ethereum has a more established ecosystem and a large developer community—though TON also has a rapidly growing ecosystem.
• How to develop an application on the TON network: Developing an application on the TON network involves several different paths for developers. First, you can develop decentralized applications (dApps) directly on the TON blockchain by writing smart contracts. TON offers specialized languages like FunC and Fift for smart contracts that run on its own virtual machine (TVM); higher-level languages like Tact are also available to simplify the developer experience. The second option is to use the Telegram Mini App platform. Telegram mini apps are lightweight applications that can interact with the TON blockchain. For example, after developing a Telegram bot or mini app, you can connect it to TON wallets using the TON Connect protocol. This allows you to write applications within Telegram that allow users to trade Toncoin, buy and sell NFTs, or perform other Web3 transactions. The TON Foundation provides comprehensive documentation, SDKs, and open-source sample projects to get you started. In short, you can contribute to the TON ecosystem by developing a smart contract or writing a Telegram mini app. The necessary tools and community support are readily available, even for beginners, on the TON developer portal.

For more content on Toncoin and Web3 projects integrated with the Telegram ecosystem, follow our JR Kripto Guide series.