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What is the issue volume of TON coins? One article to introduce the application scenarios of TON coins
Within the TON ecosystem, TON coins serve various use cases including transaction fees, staking, governance participation, data storage, dApp development, remittances, gaming, and NFT trading.
Oct 07, 2024 at 06:59 am
Understanding the Issuance and Use Cases of TON Coins
1. Issuance of TON Coins
The TON network utilizes two types of tokens:
- TON Crystal (TON) acts as a native cryptocurrency, facilitating transactions and fueling the Telegram network.
- TONCOIN is the name of the Proof-of-Work token that powers The Open Network (TON).
2. Use Cases of TON Coins
TON coins possess a wide range of applications within the TON ecosystem:
Transaction Fees: TON coins are used to pay transaction fees on the TON network. These fees compensate validators for securing the blockchain.
Governance: TON holders participate in the network's governance through voting on protocol updates and upgrades.
Staking: TON coins can be staked to become a validator. Validators play a crucial role in verifying transactions and maintaining network security. In return, they earn TON rewards.
Payment Method: TON coins can be used to purchase goods and services within the Telegram ecosystem.
Micropayments: TON's low transaction fees allow for efficient micropayments, enabling users to make small payments without significant overhead. This feature is particularly valuable for content creators and developers seeking to monetize digital goods.
Data Storage: TON offers decentralized data storage capabilities. Developers can pay for data storage services using TON coins, providing an alternative to centralized cloud storage providers.
Decentralized Applications (dApps): The TON Virtual Machine (TVM) enables the development of dApps. Developers can use TON coins to pay for the deployment and execution of their dApps on the TON network.
Remittances: TON coins can be used for cross-border remittances, leveraging its fast transaction times and low fees. This feature can benefit migrant workers who need to send money to their families abroad.
Gaming: TON coins can be integrated into blockchain games as a form of in-game currency or to purchase specific items and upgrades. This integration enhances the gaming experience and creates new monetization opportunities.
Non-Fungible Tokens (NFTs): TON supports the creation and trading of NFTs, which represent unique digital assets. Artists and creators can tokenize their creations as NFTs and use TON coins to conduct transactions on the TON NFT marketplace.
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