The TON Foundation, which is considered to be a non-commercial set of people contributing at the back of the blockchain called The Open Network (TON), has released TON Storage. The project is a decentralized solution for data storage and file sharing analogous to the rest of the projects such as Storj and Filecoin. TON Storage operates just like a file-sharing mechanism that is peer-to-peer and utilizes torrents.
TON Blockchain Releases a Solution for Decentralized File-Sharing
Rather, it depends on the blockchain network of TON to transact data files – which comprise any size and are encrypted – without requiring web servers that are centrally controlled. Conventional torrents are deficient in ensuring long-term storage. TON Storage targets to eliminate this problem by providing financial facilities to the network’s node operators. In this respect, smart contracts are utilized.
The consumers pay fixed funds to the node operators via smart contracts in Toncoin and get their files hosted for a specific time. The TON Foundation noted in its statement that anyone is permitted to turn into a node operator as well as obtain payments from the rest of the consumers for files’ hosting. The platform allows even the node operator is operating only one node.
As per the platform, the latest product’s accessibility will incentivize unique, autonomous consumers to get into the TON network, assisting in the TON ecosystem’s further growth. Telegram started delving into blockchain technology back in 2018, establishing the Telegram Open Network.
The company collected nearly $1.7B amount in Toncoin tokens’ private sales in the same year. However, Telegram quit the project as the SEC started an investigation over it.
In 2022, it was rebranded by the open-source developers under the title “The Open Network” and an operational mainnet was added to it. In October, the consumers were permitted by Telegram to purchase its messaging app through Fragment (a decentralized auction forum). As the TON Storage was released, TON-secured websites’ hosting can also be carried out on the network.
Toncoin Presents Outstanding Performance in 2022
This is considered a move that Analoty Makosov (a founding member of the TON Foundation) labeled as the impending move in recognizing their vision of an open and decentralized internet. Toncoin (TON), the Telegram Open Network’s local digital currency, has performed considerably well in 2022 in comparison with the other crypto assets.
The popularity and growth of Toncoin are among the top things that have won the trust of the community.
During the previous year, the token’s price surged to a great extent, turning it into the 23rd-biggest crypto asset in terms of market capitalization. It has been among the prominent influential altcoins during the year of crypto winter. While being compared to the rest of the digital assets, TON has upheld a remarkable advancement and surged by up to 54% during December following.