The Open Network (TON) is a decentralized protocol originally created by the team behind Telegram, the popular messaging platform. The blockchain operates using a Proof of Stake consensus mechanism, meaning users can stake the network’s native tokens and earn rewards. After facing regulatory issues in 2020, Telegram had to sell the network and repay early investors. Now, The Open Network is leveraged by independent developers to build various cryptocurrency projects.
Despite regulatory challenges, The Open Network and Telegram are still linked. TON’s blockchain allows Telegram users to seamlessly access, transfer and receive Toncoin via the platform, using the integrated TON Space wallet. Toncoin’s protocol is also heavily featured across Telegram’s minigames, where play-to-earn apps have become increasingly popular.