TON 币的故事：从 Telegram 的创意到区块链和加密货币领域的杰出玩家

Toncoin 的道路并不平坦，监管审查和法律行动掩盖了该网络的潜力。但最终，该项目成功成为区块链和加密货币领域的杰出参与者，并将其麻烦不断的过去抛在脑后。

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) 是一种最近受到交易者和投资者欢迎的加密货币。但这个代币背后有什么故事呢？它来自哪里？它是如何成为加密市场上最有前途的资产之一的？

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，这是由尼古拉·杜罗夫 (Nikolai Durov) 和帕维尔·杜罗夫 (Pavel Durov) 兄弟于 2013 年推出的流行社交消息平台。在经历了相当平淡的推出后，该应用程序开始迅速获得关注，到 2014 年 12 月其用户群扩大到 5000 万每天发送超过 10 亿条消息。

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 先进的隐私功能、高安全级别、速度和易用性首先吸引了人们使用该平台，使其成为世界上最受欢迎的社交网络之一。通过引入旨在扩展平台功能的新概念和功能来强调不断创新的承诺，最终导致该公司探索去中心化和区块链技术领域。

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.

在得出现有第 1 层区块链解决方案均无法与该应用程序集成并支持其不断增长的用户群的结论后，Telegram 决定最好的行动方案是开发专有的第 1 层链，他们在 2018 年宣布推出 Telegram 开放网络 (TON) 及其相关的 GRAM 代币。

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.

目的是设计一个能够提供高速、安全、可扩展性和低费用的区块链网络，能够每秒处理数百万笔交易，使其比比特币和以太坊等老式区块链更加高效。作为 TON 的原生代币，GRAM 旨在促进平台上的操作，例如支付和去中心化应用程序 (dApp) 的部署，并为 Telegram 生态系统的发展做出贡献。

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.

理论上，Telegram 开放网络完全有机会取得成功，利用 Telegram 的受欢迎程度开辟进入加密领域的道路。一切似乎都很顺利，直到出现法律纠纷并停止了项目的开发。

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 正式推出前几周，美国证券交易委员会 (SEC) 介入并对 Telegram 提起诉讼，称 GRAM 代币代表未注册的证券，因此其销售违反了美国联邦法律。另一方面，Telegram 声称将其代币标记为未注册证券违反了最高法院的先例，也违反了 SEC 自己对其他加密货币的做法。

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.

尽管他们持这样的立场，但 Telegram 同意推迟 TON 的发布和代币分发，直到所有法律问题得到澄清。不幸的是，对于 Telegram 来说，他们输了官司，2020 年，他们在向投资者返还 12 亿美元并向 SEC 支付 1850 万美元和解金后同意放弃该项目。

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.

在与 SEC 发生灾难性的法律冲突之后，每个人都认为这将是 TON 的终结。然而，该项目已经吸引了一个强大的社区，他们坚持保持该倡议的活力。一群名为 NewTON 的独立软件开发人员决定亲自处理此事，并以新的品牌名称恢复该项目的开发。因此，Telegram 开放网络变成了开放网络，GRAM 代币变成了 Toncoin，其代币代码为 $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.

这代表了 TON 网络及其原生加密货币的全新开始，摆脱了最初几年发展所面临的监管挑战。在新品牌下，该项目蓬勃发展，并成功吸引了越来越多交易者和投资者的兴趣。从结构上看，TON 作为独立的第 1 层区块链运行，利用权益证明 (PoS) 共识机制来验证交易并确保网络安全。

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，当母公司宣布将 TON 纳入其生态系统并使用其构建官方 Web3 基础设施时，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 创下 8.25 美元的历史新高，同比 (YoY) 涨幅超过 160%。价格的演变和 Toncoin 在投资者中越来越受欢迎反映了该资产的实力和耐力，标志着一切都回到了原点，TON 项目终于得到了应有的认可。

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 的道路并不平坦，监管审查和法律行动掩盖了该网络的潜力。但最终，该项目成功成为区块链和加密货币领域的杰出参与者，并将其麻烦不断的过去抛在脑后。

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

展望未来，大多数预测似乎都为 TON 及其原生代币描绘了光明的未来。最大胆的预测是，代币将在 2025 年跃升至 20 美元，考虑到过去几个月形成的看涨趋势，全面推高了加密货币价格，这并不令人意外。分析师提出了更乐观的长期情景，即 Toncoin 的价格