TON (blockchain)

The Open Network, previously known as the Telegram Open Network, is a decentralized layer-1 blockchain. TON was originally developed by Nikolai Durov, co-founder of the Telegram messaging platform.
Telegram had planned to use TON to launch its own cryptocurrency, but was forced to abandon the project in 2020 following an injunction by US regulators. The network was then renamed.

History

The Open Network began in January 2018, when Telegram Messenger Inc. and TON Issuer Inc. started selling "Gram" tokens to finance development of the Telegram Open Network blockchain, ultimately raising US$1.7 billion across two private SAFT rounds.
Peer-to-peer transfers inside Telegram via the @wallet bot became available in April 2022.
In April 2024 Tether issued a native TON version.