Telegram's blockchain network has launched! But it might not be what you expected.

The blockchain network of Telegram (Telegram Open Network, TON) finally launched today? To be precise, it was Telegram's technical partner TON Labs that decided to release a forked version called Free TON ahead of Telegram resolving regulatory issues.

"Free TON" Officially Launched

The project is supported by 13 validator nodes and operates using the code maintained by TON Labs. The blockchain generated a genesis block during a live YouTube broadcast yesterday, leaving a memorable moment for the birth of the blockchain.

Mitya Goroshevsky, CTO of TON Labs, stated during a video conference:

"The internet should not be censored; it must go global."

To differentiate from the original TON version, this forked version is called Free TON, with the token named "Ton Crystals." Alexander Filatov, CEO of TON Labs, emphasized that Telegram did not participate in TON Labs' release, making it essentially an independent release of open-source software. TON Labs provides technical maintenance for the blockchain code, while 13 validator nodes (currently) support network security. Entities serving as validators include EverStake, P2P, Certus, Filatov, cryptocurrency exchanges (Kuna, CEX, HitBTC), and other professional validator node teams that have supported networks like Cosmos, Loom, EOS, and Tezos.

Not Mainnet, Not Testnet

Since TON's code is publicly available on GitHub, technically anyone or any organization can launch it without Telegram's involvement. Currently, there are three organizations running the TON testnet, including the official Telegram team, the TON Community Foundation formed by TON investors and developers privately, and TON Labs, which is publicly released this time.

Most people instinctively view Free TON as a substitute or competitor to the original TON blockchain. However, the purpose of the public release of Free TON is similar to how Kusama network functions for Polkadot—it can serve as a testing ground before the full release of TON. As Sergey Vasilchuk, founder of validator node EverStake, said:

"This is not the mainnet, nor is it the testnet. We are trying to release an Alpha version to see how the software works in real life."

Token Model

Similar to the original TON blockchain's token model, there will be a limited supply of 5 billion tokens. It is important to note that Free TON is not related to the original blockchain and does not involve any investors' funds, so TON token investors will not receive any tokens. According to areport, 85% of the total supply will be distributed for free to TON partners and users, 10% to developers, and 5% to validator nodes. Starting from the release, each validator node will receive 380,000 tokens for staking and begin producing blocks for the proof-of-stake blockchain. Hendrik Hofstadt, CEO of validator node Certus One, stated:

"We hope the TON network will mature quickly and transition to mainnet status over time. Cryptocurrency exchanges will list TON tokens later for final participants to receive rewards."

Related Reading

• SEC Lawsuit Delays "Telegram" Token Issuance, Triggering $1.2 Billion Discount Redemption Clause
• Understanding the Telegram Refund Scheme Correctly, U.S. Investors Forced to "Discount Redeem Initial Investment"

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