Telegram affiliatethe Open Network (TON) Foundation, in collaboration with Alibaba Cloud, has done announced plans to deploy 256 servers for a performance testing event scheduled for October 31, 2023.
According to the announcement, the goal of this event is to officially establish the TON blockchain as the fastest in the world blockchain to gain accreditation with the Guinness World Records.
TON’s upcoming performance test
According to a report from Yahoo Finance, the TON blockchain has experienced significant growth since 2022, witnessing a twenty-fold growth increase in addresses from 170,000 to 3.5 million.
The network has also expanded its validator nodes to 350, promoting a more decentralized network across 25 countries. The blockchain has maintained a good track record throughout this expansion, with no major network disruptions reported.
Both parties view the upcoming performance test as a critical step in demonstrating the unique capabilities of the TON blockchain, which serves as a trusted infrastructure layer for the Web3 ecosystem within Telegram.
Anatoly Makosov, the Core Development Lead at the TON Foundation, expressed his anticipation about the performance testing event and emphasized the technical superiority of the TON blockchain, especially with regard to scalability.
Makosov emphasized that TON’s large-scale public performance tests are an exciting opportunity to witness significant results and validate the blockchain’s technical prowess. Makosov stated:
We look forward to October 31, 2023 to confirm that the TON blockchain technically stands out among all other blockchains, especially in terms of its scalability. This is TON’s first large-scale public performance test – we’re as excited as you are to see the results.
MEXC Ventures is making major investments in TON Blockchain
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange, has done so as well announced a significant investment in The Open Network. According to Yahoo Finance, this investment is MEXC’s largest Layer 1 financing and comes with a partnership with the TON Foundation.
Justin Hyun, Director of Growth at TON Foundation, expressed his excitement about the partnership with MEXC and highlighted their shared goal of providing global access to the decentralized Web3 ecosystem within Telegram.
According to the report, the foundation aims to provide a “user-centric experience” for the community. MEXC’s support strengthens its ability to develop new tools and services that seamlessly integrate crypto with social media.
Steve Yun, chairman of the TON Foundation, emphasized MEXC’s belief in the potential of the TON blockchain to build a Web3 super app ecosystem on Telegram. Yun expressed confidence in the mutual growth of the TON ecosystem and MEXC as they prepare for the next market cycle.
The collaboration between the Open Network Foundation, Alibaba Cloud and MEXC Ventures underlines the increasing recognition and adoption of blockchain technology, especially in the Web3 space.
These partnerships aim to improve the functionality, scalability and accessibility of the TON blockchain while promoting global adoption and innovation within the decentralized ecosystem.
At the time of writing, the protocol’s native token is, Tonmint, is trading at $2,006, reflecting a marginal decline of 0.2% in the past 24 hours. Nevertheless, the token has seen substantial growth so far, with an impressive 59% increase during this time frame.