In a bid to redefine the speed and performance of blockchain technology, the TON Foundation has announced its determination to make The Open Network (TON) the fastest blockchain globally, with an expected breakthrough on October 31, 2023. This groundbreaking attempt aims to underline TON’s reliability, scalability, and speed, setting a new benchmark in the blockchain universe.

In this endeavor, the TON Foundation is taking a bold step by setting up 256 servers dedicated to validator nodes and launching a separate TON blockchain network exclusively for performance tests. For years, various blockchain networks have vied for the title of the fastest in the industry, but TON is determined to provide irrefutable evidence of its claim as the swiftest blockchain globally.

Anatoly Makosov, the core development lead at TON Foundation, expressed his enthusiasm for the upcoming speed test, stating, “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.”

The TON blockchain has witnessed remarkable growth since its inception, with over 3.5 million wallet addresses registered in recent months. This surge in adoption has been concurrent with the expansion of TON validator nodes, which now span 350 nodes across 25 different nations. Furthermore, TON has been a hub for innovation, with hundreds of builders launching innovative products. Notably, TON has also joined forces with Telegram, enabling users to buy and sell Telegram usernames and IDs on Fragment, a TON-based auction platform.

Additionally, the TON Foundation has established a partnership with EthSign to introduce multi-chain, secure, and decentralized digital contract signing within the rapidly emerging TON-based Web3 ecosystem in Telegram.

Earlier this month, MEXC Ventures, a billion-dollar giant, made a substantial investment in The Open Network (TON), marking a significant commitment to this layer-1 blockchain. MEXC Ventures’ choice of TON as a strategic investment showcases the network’s remarkable growth and development.

Despite these promising developments, TON Coin (TON) has faced challenges in maintaining its bullish outlook. Over the last seven days, the digital asset has experienced a nearly 7 percent decline and is currently trading at $1.94. However, TON Coin has demonstrated impressive growth, achieving a 500 percent gain over the last two years, culminating in a market capitalization just shy of $7 billion.

Despite a decline of approximately 65 percent from its all-time high of $5.29 nearly two years ago, investors remain optimistic about TON Coin’s potential to reach new all-time highs in the next bull run.

As the TON Foundation gears up for its historic speed test on October 31, 2023, it’s worth taking a closer look at the factors that have contributed to TON’s growth and the significance of their partnership with EthSign and MEXC Ventures.

TON’s Stellar Growth: Beyond the Numbers

The Open Network (TON) has undergone exponential growth since its inception. One of the key indicators of this growth is the surge in wallet addresses, which have surpassed a staggering 3.5 million in recent months. This remarkable increase in adoption demonstrates that TON has captured the interest and trust of a diverse global user base.

A pivotal aspect of this growth story is the proliferation of TON validator nodes, now numbering at 350 and spread across 25 different countries. Validator nodes play a crucial role in the blockchain network, validating transactions and ensuring the network’s security and integrity. The significant increase in validator nodes signifies a growing network that is both secure and decentralized.

While many blockchain projects struggle to garner attention from builders and developers, TON has managed to attract a vibrant community of builders who have launched an array of innovative products on the network. This speaks to the appeal and potential of TON as a versatile blockchain platform that can support a wide range of applications and services.

The Telegram Partnership: A Boost for TON

One of the most noteworthy developments in TON’s journey is its partnership with Telegram. This collaboration has opened up exciting possibilities for users, allowing them to buy and sell Telegram usernames and IDs on Fragment, a TON-based auction platform. This integration showcases TON’s versatility as a blockchain platform that can serve as the foundation for a variety of decentralized applications and services.

The partnership between TON and Telegram has the potential to bring more users and businesses into the blockchain space, further expanding the network’s reach and utility. It underscores the value of strategic partnerships in advancing the adoption of blockchain technology.

EthSign and the Emergence of Web3

Another significant partnership that has recently taken shape is the collaboration between the TON Foundation and EthSign. This partnership aims to introduce multi-chain, secure, and decentralized digital contract signing within the rapidly emerging TON-based Web3 ecosystem in Telegram.

Web3 represents the next generation of the internet, characterized by decentralized applications and services that empower users by giving them greater control over their data and online interactions. The partnership with EthSign aligns with TON’s vision of becoming a key player in the Web3 space, providing the infrastructure and tools needed for decentralized applications to thrive.

MEXC Ventures’ Strategic Investment: A Milestone for TON

MEXC Ventures, a major player in the blockchain and cryptocurrency space with a billion-dollar valuation, recently made a substantial investment in The Open Network (TON). This investment marks a significant commitment to TON as a layer-1 blockchain platform.

MEXC Ventures’ choice to invest in TON underscores the network’s growth and potential. It signifies that established players in the blockchain industry recognize the value and significance of TON as a blockchain platform. Such investments not only provide crucial financial support but also lend credibility to the project.

TON Coin’s Market Performance

Despite the positive developments and growing adoption of the TON blockchain, TON Coin (TON) has faced some challenges in the market. Over the past seven days, the digital asset has experienced a nearly 7 percent decline in its value, currently trading at $1.94. However, it’s essential to put this short-term fluctuation in perspective.

Over the past two years, TON Coin has demonstrated remarkable growth, with a staggering 500 percent increase in its value. This growth has propelled its market capitalization to just under $7 billion. TON Coin’s journey has not been without its ups and downs, with a decline of about 65 percent from its all-time high of $5.29 nearly two years ago. However, investors remain optimistic about the long-term potential of TON Coin, anticipating new all-time highs in the next cryptocurrency bull run.