The Open Network (TON) Foundation, in collaboration with Alibaba Cloud, has revealed its plans to set up 256 servers for an upcoming performance testing event. Taking place on October 31, 2023, the objective of this event is to officially establish the TON blockchain as the world’s fastest blockchain, earning accreditation from the Guinness World Records. This article will delve into the details of this partnership and the significance of this performance test.
According to a report by Yahoo Finance, the TON blockchain has experienced remarkable growth since 2022, witnessing a significant increase in addresses from 170,000 to 3.5 million. Moreover, the network has expanded its validator nodes to 350, resulting in a more decentralized network spanning 25 nations. Throughout this expansion, the TON blockchain has maintained a track record of no major disruptions. This indicates the platform’s stability and reliability.
The upcoming performance test is seen as a crucial step in showcasing the unique capabilities of the TON blockchain. Serving as a trusted infrastructure layer for the Web3 ecosystem within Telegram, the TON blockchain’s technical superiority, especially in terms of scalability, is highlighted. Anatoly Makosov, the Core Development Lead at the TON Foundation, expressed anticipation for the performance testing event, emphasizing the importance of significant results that would validate the blockchain’s technical prowess. Makosov stated, “We look forward to October 31, 2023, to confirm that the TON blockchain technically stands out among any other blockchain, especially in its ability to scale. This is the first large-scale public performance testing of TON – we’re just as excited as you are to see the results.”
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, announced a significant investment in The Open Network. This investment represents MEXC’s largest Layer-1 funding and is accompanied by a partnership with the TON Foundation. Justin Hyun, Director of Growth at the TON Foundation, expressed enthusiasm about the collaboration with MEXC, emphasizing their shared goal of offering global access to the decentralized Web3 ecosystem within Telegram. The foundation is committed to delivering a user-centric experience for the community, and MEXC’s support significantly strengthens its ability to develop new tools and services that seamlessly integrate crypto with social media. Steve Yun, President of the TON Foundation, expressed confidence in the TON ecosystem’s and MEXC’s mutual growth as they prepare for the next market cycle.
The partnership between the Open Network Foundation, Alibaba Cloud, and MEXC Ventures underscores the increasing recognition and adoption of blockchain technology, particularly in the Web3 space. These collaborations aim to enhance the functionality, scalability, and accessibility of the TON blockchain while promoting global adoption and innovation within the decentralized ecosystem.
At the time of writing, Toncoin, the native token of the TON protocol, is trading at $2,006, reflecting a marginal decline of 0.2% over the past 24 hours. However, Toncoin has experienced significant growth year to date, boasting an impressive increase of 59% during this timeframe. This performance showcases the market’s confidence in the potential of the TON blockchain and its native token.
The partnership between the Open Network Foundation and Alibaba Cloud, supported by MEXC Ventures, is set to demonstrate the immense capabilities of the TON blockchain. With the upcoming performance testing event, the TON blockchain aims to earn the accolade of being the world’s fastest blockchain. This achievement will further solidify the platform’s position within the Web3 ecosystem and pave the way for even greater growth and adoption. As the blockchain technology continues to gain recognition, innovations such as the TON blockchain play a pivotal role in driving the decentralized future.
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