What is TON ? The Open Network. Up 247%

What is TON and Why is it up over 247 % this year ???

Chart : https://coinmarketcap.com/currencies/toncoin/

I converted a little TRX to Ton coin in case this really takes off.

The Open Network for startups

A decentralized and open internet, created by the community using a technology designed by Telegram.

Source: https://ton.org/

About Toncoin

What Is Toncoin (TON)?

Toncoin (TON) is the native cryptocurrency of the decentralized layer-1 blockchain, The Open Network (TON). The TON blockchain is open-sourced and supported by many network contributors, including the Switzerland-based non-profit organization, the TON Foundation.

Since 2020, the technology has been developed by a non-commercial group of supporters and an independent community of enthusiasts, the TON Foundation. The blockchain was renamed from "Telegram Open Network" to "The Open Network" and Toncoin is the native cryptocurrency of the TON network. The whitepaper contains part of the original codebase written by Dr. Nikolai Durov, co-founder of Telegram and brother of Pavel Durov.
The original idea was to integrate TON into an easy-to-use application that allows users to buy/send/store funds. Clients pay transaction fees and use TON to settle payments or validate transactions. Toncoin utilizes the proof-of-stake (PoS) consensus model for network scalability and reliability. According to the project website, the platform provides fast, transparent and secure payment services, facilitating transactions with minimal fees and third-party applications.

The developers’ mission is to build a full-fledged ecosystem with decentralized storage, decentralized services, a domain name system (DNS equivalent), an anonymous network, an instant payment platform, and affordable/fast transaction processing.

Source: https://coinmarketcap.com/currencies/toncoin/#About