TON 幣的故事：從 Telegram 的創意到區塊鏈和加密貨幣領域的傑出玩家

Toncoin 的道路並不平坦，監管審查和法律行動掩蓋了該網路的潛力。但最終，該計畫成功成為區塊鏈和加密貨幣領域的傑出參與者，並將其麻煩不斷的過去拋在腦後。

Toncoin (TON) is a cryptocurrency that has recently gained popularity among traders and investors. But what is the story behind this token? Where did it come from, and how did it manage to become one of the most promising assets in the crypto market?

Toncoin (TON) 是一種最近受到交易者和投資者歡迎的加密貨幣。但這代幣背後有什麼故事呢？它來自哪裡？

Toncoin’s origins can be traced back to Telegram Messenger, the popular social messaging platform launched by brothers Nikolai and Pavel Durov in 2013. After a rather lackluster inauguration, the app started to quickly gain traction, with its user base expanding to 50 million by December 2014 and over 1 billion messages delivered daily.

Toncoin 的起源可以追溯到Telegram Messenger，這是由Nikolai 和Pavel Durov 兄弟於2013 年推出的流行社交消息平台。用戶群擴大到5,000 萬每天發送超過 10 億則訊息。

Telegram’s advanced privacy features, high security levels, speed, and ease of use were what attracted people to the platform in the first place, turning it into one of the most popular social networks in the world. The commitment to constant innovation emphasized by the introduction of new concepts and features meant to expand the platform’s capabilities eventually led the company to explore the territory of decentralization and blockchain technology.

Telegram 先進的隱私功能、高安全性、速度和易用性首先吸引了人們使用該平台，使其成為世界上最受歡迎的社交網路之一。透過引入旨在擴展平台功能的新概念和功能來強調不斷創新的承諾，最終導致該公司探索去中心化和區塊鏈技術領域。

After concluding that none of the existing Layer 1 blockchain solutions were able to integrate with the app and support its growing user base, Telegram decided the best course of action was to develop a proprietary Layer 1 chain, which they did in 2018 when they announced the launch of the Telegram Open Network (TON) and its associated GRAM token.

在得出現有第1 層區塊鏈解決方案均無法與該應用程式整合並支援其不斷增長的用戶群的結論後，Telegram 決定最好的行動方案是開發專有的第1 層鏈，他們在2018 年宣布推出 Telegram 開放網路 (TON) 及其相關的 GRAM 代幣。

The purpose was to design a blockchain network that could provide high speed and security, scalability, and low fees, enabling the processing of millions of transactions per second, making it infinitely more efficient than old-school blockchains like Bitcoin and Ethereum. As TON’s native token, GRAM was meant to facilitate operations on the platform, such as payments and the deployment of decentralized applications (dApps), and contribute to the growth of the Telegram ecosystem.

目的是設計一個能夠提供高速、安全、可擴展性和低費用的區塊鏈網絡，能夠每秒處理數百萬筆交易，使其比比特幣和以太坊等老式區塊鏈更有效率。作為 TON 的原生代幣，GRAM 旨在促進平台上的操作，例如支付和去中心化應用程式 (dApp) 的部署，並為 Telegram 生態系統的發展做出貢獻。

In theory, the Telegram Open Network had every chance to become a success, leveraging Telegram’s popularity to carve its path into the crypto realm. Everything seemed to be going well until legal complications arose and stopped the project’s development in its tracks.

理論上，Telegram 開放網路完全有機會取得成功，利用 Telegram 的受歡迎程度開闢進入加密領域的道路。一切似乎都很順利，直到出現法律糾紛並停止了專案的開發。

In 2019, a few weeks before TON’s official launch date, the US Securities and Exchange Commission (SEC) stepped in and filed a lawsuit against Telegram, stating that the GRAM tokens represented unregistered securities and, therefore, their selling violated US federal law. On the other hand, Telegram claimed that labeling its tokens as unregistered securities went against the Supreme Court’s precedents, as well as the SEC’s own approach to other cryptocurrencies.

2019 年，在 TON 正式推出前幾週，美國證券交易委員會 (SEC) 介入並對 Telegram 提起訴訟，並表示 GRAM 代幣代表未註冊的證券，因此其銷售違反了美國聯邦法律。另一方面，Telegram 聲稱將其代幣標記為未註冊證券違反了最高法院的先例，也違反了 SEC 自己對其他加密貨幣的做法。

Despite their stance, Telegram agreed to put off TON’s launch and token distribution until all legal issues were clarified. Unfortunately for Telegram, they lost the lawsuit, and in 2020, they agreed to abandon the project after returning $1.2 billion to investors and paying an $18.5 million settlement to the SEC.

儘管他們持這樣的立場，但 Telegram 同意推遲 TON 的發布和代幣分發，直到所有法律問題都得到澄清。不幸的是，對於 Telegram 來說，他們輸了官司，2020 年，他們在向投資者返還 12 億美元並向 SEC 支付 1850 萬美元和解金後同意放棄該項目。

After the disastrous legal clash with the SEC, everyone thought this would be the end of TON. However, the project had already attracted a strong community that insisted on keeping the initiative alive. A group of independent software developers known as NewTON decided to take matters into their own hands and resume the project’s development under a new brand name. Therefore, the Telegram Open Network turned into The Open Network, and the GRAM token became Toncoin, with its token ticker $TON.

在與 SEC 發生災難性的法律衝突之後，每個人都認為這將是 TON 的終點。然而，該項目已經吸引了一個強大的社區，他們堅持保持該倡議的活​​力。一群名為 NewTON 的獨立軟體開發人員決定親自處理此事，並以新的品牌名稱恢復該專案的開發。因此，Telegram 開放網路變成了開放網絡，GRAM 代幣變成了 Toncoin，其代幣代碼為 $TON。

This represented a fresh start for the TON network and its native crypto, leaving behind the regulatory challenges that marked the first years of development. Under the new brand, the project thrived and managed to capture the interest of a growing number of traders and investors. Structure-wise, TON operates as an independent Layer 1 blockchain that utilizes a proof-of-stake (PoS) consensus mechanism to validate transactions and ensure network security.

這代表了 TON 網路及其原生加密貨幣的全新開始，擺脫了最初幾年發展所面臨的監管挑戰。在新品牌下，該項目蓬勃發展，並成功吸引了越來越多交易者和投資者的興趣。從結構上看，TON 作為獨立的第 1 層區塊鏈運行，利用權益證明 (PoS) 共識機制來驗證交易並確保網路安全。

In 2023, Telegram’s and TON’s paths united again when the parent company announced they would incorporate TON into their ecosystem and use it to build their official Web3 infrastructure.

2023 年，當母公司宣布將 TON 納入其生態系統並使用其建造官方 Web3 基礎設施時，Telegram 和 TON 的道路再次走到了一起。

In 2024, Toncoin reached a new all-time high of $8.25, registering year-over-year (YoY) gains of over 160%. The price evolution and Toncoin’s growing popularity among investors reflect the asset’s strength and endurance, signaling that everything has come full circle and the TON project finally got the recognition it deserved.

2024 年，Toncoin 創下 8.25 美元的歷史新高，年比 (YoY) 漲幅超過 160%。價格的演變和 Toncoin 在投資者中越來越受歡迎反映了資產的實力和耐力，標誌著一切都回到了原點，TON 項目終於得到了應有的認可。

Toncoin’s path hasn’t been easy, with regulatory scrutiny and legal actions overshadowing the network’s potential. But in the end, the project managed to emerge as a standout player in the blockchain and crypto space and left its troubled past behind.

Toncoin 的道路並不平坦，監管審查和法律行動掩蓋了該網路的潛力。但最終，該計畫成功成為區塊鏈和加密貨幣領域的傑出參與者，並將其麻煩不斷的過去拋在腦後。

Looking ahead, most predictions seem to paint a bright future for TON and its native coin. The boldest forecasts see the token jump to $20 in 2025, which wouldn’t be all that surprising considering the bullish trend that has formed in the last months, which boosted crypto prices across the board. Analysts have come up with even more optimistic scenarios for the long haul, with the Toncoin price

展望未來，大多數預測似乎都為 TON 及其原生代幣描繪了光明的未來。最大膽的預測是，代幣將在 2025 年躍升至 20 美元，考慮到過去幾個月形成的看漲趨勢，全面推高了加密貨幣價格，這並不令人意外。分析師提出了更樂觀的長期情景，即 Toncoin 的價格