The Open Network Foundation (TON) has achieved a remarkable feat by reaching a peak of 104,715 transactions per second (TPS) on its blockchain. This is the highest speed ever recorded by any public blockchain, surpassing the performance of all existing layer 1 solutions and centralized payment systems.
The TPS record was set on October 31, 2023, during a live-streamed public test that lasted for 25 minutes. The test involved 256 validators that split into 512 shards, demonstrating the scalability and efficiency of TON’s horizontal sharding architecture. The test results were verified and confirmed by CertiK, a leading Web3 security auditor.
TON’s impressive speed makes it the ideal infrastructure layer for the Web3 ecosystem in Telegram, the popular messaging app with over 500 million users. TON aims to transform Telegram into a global decentralized SuperApp, where users can own their digital identity, data, and assets, and access various Web3 services and applications.
TON is also a viable solution for large enterprises that want to leverage blockchain technology for their products and services, as well as a potential challenger to the traditional finance system. TON offers fast, secure, and low-cost transactions, as well as smart contracts, decentralized storage, and oracle services.
TON is powered by its native token, TON Crystal, which is currently trading at $0.012, with a 21.03% increase in the last 24 hours and a 33.48% increase in the last week. TON Crystal has a market capitalization of $1.2 billion and a circulating supply of 100 billion tokens.