A couple of years back I happened to come across this cryptocurrency affiliated project names TON, but I paid very little or no attention to what the was all about. I did notice however, that it was being handled by the persons or group of person who were responsible for the social media application known as Telegram. Fast forward to some years later, and again I happen to stumble on this same Free TON project. I personally am not going to wait for a third time chance encounter, so I decided to take a peek into the deeper parts of the project. The aim of my research being majorly to gain more insight into the structure and internal working parts of the TON cryptocurrency project.
To set matters straight and simple, it would be quite easier to approach the description of this project by giving some clear, concise and relatable definitions of the key features of this project, that could actually serve as the pillars for the structure of the project. In partial fulfillment of keeping things very simple, I will go ahead to describe the TON project, as global blockchain network which is totally decentralized. Decentralization is fast becoming a very necessary and important core feature of any sustainable and most trusted applications and projects today. The Free TON project in particular, came into operation in May 2020 when it was launched on the TON OS.
One thing however caught my attention about the decentralization of this project. Decentralization in the world of cryptocurrency should ordinarily mean that there are no centralized figures or heads responsible for making or taking decisions on behalf of the network. Sadly though upon closer examination, it is possible to discover that a vast majority of projects which claim to be decentralized today, only operate a very partial form of decentralization. At the heart of these projects, you will discover that there are patches of centralization here and there, no matter how small it might be.
Free TON however has come up with an efficient way to solve this problem. The use of a community on making and reaching decisions is the solution Free TON has proffered to the problem of centralization. So there we have a totally decentralized and community backed project supported by a community around the world. There, we have Free TON supported by a community of over thirty thousand supporters worldwide who are contributing to the network’s blockchain on a daily basis.
Free TON utilizes something called the Meritocratic Token Distribution model (MTD). This model offers a community of participants working together to reach and make decisions that affect the network. A jury is also present as well. Another intriguing part of the project I find to be particularly interesting is the fact that token are no minutes and distributed as in other projects. On Free TON, token distribution follows the due process of meritocracy.
By employing the use of the Soft Majority Voting system, anyone at all can make a proposal which the community can vote on, and this is a very transparent voting process.
Something else begs to be noticed when it comes to this project, and that's it's the matter of transaction speeds. The Free TON blockchain is highly scalable and has the power to run ten 5housand transactions per second. This is a really impressive figure and most of the popular and existing projects already existing, can’t boast of such an impressive feat. It is also important to mention that Free TON open source as well.
From a positive point of view and from my research about the Free TON project, I can say personally, that the Free TON blockchain is quite capable of making great and revolutionary changes to the cryptocurrency or blockchain industries. If given time and support the potentials could be limitless and the benefits will no doubt be enjoyed.