At the NFTScan event, Vivi from the TON Foundation spoke as a representative to discuss the collaboration between TON and NFTScan, and also to address the current development status of the TON public chain.
1. Introduction to TON
Hello everyone, it's great to see you all. I'm Vivi from the TON Foundation, currently responsible for the Greater China region and the DeFi planning for the TON public chain. Just a few days ago, NFTScan integrated the TON public chain. NFTScan is a personal favorite NFT analysis platform of mine. On TON, NFTScan Explorer provides users with detailed on-chain data, including NFT transactions, minting, and rankings. Additionally, our users can easily access the transaction history of specific wallet addresses, as well as the gas fees for any NFT assets issued on the TON network. NFTscan has improved the infrastructure on the TON chain, further enhancing the usability of the TON blockchain network.
TON, short for The Open Network, is a decentralized first-layer public chain designed for billions of users, with scalability and sharding capabilities.
TON aims to simplify and expedite blockchain networks, addressing issues such as high transaction fees, slow transaction speeds, inter-chain communication, and scalability present in blockchains including Bitcoin and Ethereum.
TON addresses scalability and interoperability issues through a multi-blockchain architecture, including the main chain, work chains, and shard chains. Through work chains and dynamic sharding, TON can achieve massive scalability and interoperability, enabling instant message transfer between any two blockchains.
TON combines traditional cube routing and hypercube routing mechanisms, requiring only a small number of routing nodes (intermediate shard chains) to support the transmission of millions of shard chains and messages between shard chains and the main chain.
TON uses a proof-of-stake consensus mechanism and supports block repair, allowing validators to add new blocks on top of any invalid blocks without the need for rollbacks and forks.
In addition, the TON network also provides TON DNS, connecting blockchain accounts, smart contracts, services, and network nodes to provide name mapping services; TON proxy, an anonymous network proxy service for the TON network used to hide the IP addresses of TON nodes and protect user privacy; TON storage, which enhances the availability of the storage system through torrent seed technology and smart contracts; and TON pay, a lightning network designed to support millions of transactions per second for TON.
2. Prospects before and after blockchain
The current development of blockchain faces a series of technical and application challenges, leading to various issues including:
Technical scalability issues: Blockchain technology currently faces scalability issues when processing large-scale transactions and data. The throughput of L1, L2, and other public blockchain networks is limited, leading to transaction congestion and high transaction fees. This limits the availability of blockchain in high-traffic situations.
Performance challenges: The consensus algorithm and decentralized nature of blockchain may lead to performance degradation. Blockchain networks typically require more time to confirm transactions, which is less efficient compared to real-time processing in traditional financial systems.
Energy consumption: Some blockchain projects use highly energy-consuming consensus mechanisms, such as proof of work (PoW), raising concerns about the environment and sustainability. This also increases operational costs.
Regulatory uncertainty: The blockchain industry is affected by the uncertainty and inconsistency of regulatory policies in different countries and regions worldwide. This makes it difficult for businesses and investors to predict future regulatory environments, hindering investment and widespread adoption.
High education costs and adoption barriers: Blockchain technology is relatively complex, requiring more education and training for general users and businesses. Overall, current blockchain faces challenges in technology, performance, environment, privacy, regulation, and education, limiting its widespread application and adoption. To overcome these challenges, a large traffic platform is needed as a pioneer to attract more web2 users, reduce operational difficulty, and increase industry increments. At this time, Telegram was the first to launch an in-app wallet based on cryptocurrency.
Introduction to wallets
1. @wallet
The centralized custodial wallet @wallet is a native embedded wallet in Telegram, where users can exchange TONcoin, BTC, and USDT. Through the attachment menu in the chat box, users can send and receive transactions of these cryptocurrencies with their contacts. @wallet's broader application will be in-app payments and bot payments, becoming a choice similar to WeChat Pay for users.
@wallet supports the deposit of fiat currency via bank cards or P2P markets, allowing users to choose the type of currency for payment. It also supports the deposit of cryptocurrencies from other wallets into @wallet.
As of June this year, @wallet has registered over 2.5 million users, and this user count is currently growing rapidly. Telegram has also configured the corresponding entry in user settings (Apple version).
2. TONSpace
The non-custodial wallet Tonspace is a non-custodial wallet within @wallet. In Tonspace, users can import existing TON blockchain wallets or create new TON blockchain wallets using mnemonic phrases. Users can also save the corresponding private keys through their TG accounts and email. In addition to sending tokens, users can now view, send, and trade NFTs.
TONSpace will soon support comprehensive functions, allowing users to access DeFi applications such as DEX, staking, and lending protocols, and enabling convenient access to third-party decentralized applications on the TON blockchain through TON Connect.
Developers will be able to connect small WebApps through @wallet in Telegram, serving hundreds of millions of platform users.
In 2049, we made an official announcement about Tonspace. The product is currently in the beta testing phase, but users can already use it. We will launch the official version in November and open it to all non-US users.
3. Wallet Pay
Wallet Wallet Pay is a new payment system designed for paying orders and services on Telegram. By connecting Wallet Pay to a Bots mini-program, merchants will be able to accept and process instant cryptocurrency payments.
For users, the purchasing process will not only become faster but also more convenient, as payments are completed through Wallet within Telegram (similar to WeChat Pay). If the buyer does not have crypto currency, they can easily top up their Wallet balance with a few clicks using a bank card.
Currently, Wallet Pay supports payments using USDT, TON, and BTC.
4. Introduction to Apps Center
Telegram Apps Center supports Web2 and Web3 bots, applications, and mini-games, which 900 million monthly active users can access through Telegram Apps Center, smoothly entering mini-programs and game applications in the chat box, and sharing them with friends with a single click.
Telegram continuously releases different APIs for developers, such as share buttons, payments, notifications, etc. Developers can develop their applications through bots, H5 pages, and platform-based methods, and users can connect the native wallets @wallet and Tonspace to applications and games without downloading other mobile app wallets, such as Metamask.
Currently, applications and some decentralized mini-games have been deployed in the Telegram Apps Center. Users can search for and use them on the platform. Telegram will integrate them into the primary or secondary pages in a more prominent way, eliminating the need for users to search and enter the app store.
Looking at the history of WeChat, mini-games have played an irreplaceable role in the prosperity of the instant messaging ecosystem, whether in the initial or mature stages, and mini-programs have further expanded the platform's usage scenarios and functions, strengthening user stickiness and activity, and connecting online and offline. Telegram's games and mini-programs are bound to connect Web2 and Web3, creating new usage habits for users.
TG welcomes third-party platform teams to join the Telegram Apps Center. Currently, TON has initiated developer grants, and TON will raise funds and market to different startups. We welcome everyone to join the ecosystem of TG and TON for development.
To achieve such a large ecosystem, it is necessary to improve infrastructure. NFTScan has excellent product features and rich on-chain information solutions, making it one of the most important infrastructures in the encrypted NFT ecosystem. Leveraging NFTScan's solutions to promote the ecological development of TON is a great choice for both parties. NFTScan is one of TON's most important partners, and we will continue to promote deep cooperation between the two parties to provide a better user experience for ecosystem participants.
Collaboration between TON & NFTScan
1. What NFTScan Integration Brings
NFTScan has improved the infrastructure on the TON chain, further enhancing the usability of the TON blockchain network.
The NFTScan Explorer on TON provides users with detailed on-chain data, including NFT transactions, minting, and rankings. Additionally, users can easily access the transaction history of specific wallet addresses and the gas fees for any NFT assets issued on the TON network.
The integration brings the following benefits:
- For Traders:
The integrated platform information on NFTScan allows traders to access more trading opportunities and discover more trading platforms. Additionally, market data and analysis on NFTScan can help traders make better trading decisions.
- For Regular Users:
Users can browse and search for various NFTs issued on the TON chain on NFTScan. They can use NFTScan's tools to view and verify the metadata and ownership of NFTs they own on the TON chain.
- For Developers:
NFTScan provides query and parsing tools for NFT metadata on the TON blockchain, allowing developers to conveniently access NFT data on TON. NFTScan will open corresponding API interfaces in the future, allowing developers to develop richer TON-based NFT applications based on these APIs.
2. Current NFT Ecosystem on TON
- Fragment
Fragment is an important part of the TON NFT ecosystem. To better use Telegram products and protect user privacy, Fragment provides virtual phone number trading functionality. Users can purchase these phone numbers without actually owning them and use them as their own phone numbers, greatly protecting user privacy and providing an opportunity for restricted users to use the product. Virtual phone numbers exist as NFTs on the chain, and users can buy them without the risk of others using them. The data displayed through the chain will show the phone numbers of Telegram users, allowing products and services purchased in Web3 to be used in Web2.
In addition, Fragment also offers username trading functionality. Usernames also exist as NFTs on the chain, and people can purchase their favorite usernames on Fragment and configure them in their accounts. The trading volume for this feature is rapidly increasing.
After integrating with NFTScan, we can see that the daily trading volume of virtual phone numbers can reach over $1 million, and the trading volume of usernames has reached tens of thousands of dollars and continues to grow. This demonstrates that these two product features effectively meet the needs of users. On NFTScan, users can clearly view on-chain transaction information for virtual phone numbers and make purchases and trades as needed. Without NFTScan, it would be difficult to access such information, and historical data would be hard to trace. NFTScan has provided a very good NFT information query tool for users when using TON.
- Getgems
Getgems is the primary NFT trading platform on TON, equivalent to Opensea on TON, with a user-friendly interface and a convenient trading system. Through plugin wallets or scanning codes, people can view, purchase, and sell NFTs on this platform.
The integration with NFTScan brings additional functionality, allowing users to easily view NFT trading volume, buyer and seller data analysis, corresponding NFT price changes, and user profit status. This is undoubtedly helpful for NFT marketplaces focused on trading.
Outlook
In 2049, we officially announced the Telegram's official wallet TONspace and are vigorously promoting the development of the Telegram Apps Center, integrating more Web2 and Web3 mini-programs and games into the ecosystem of Telegram and TON. In the foreseeable future, thanks to Telegram's 1.3 billion registered users and nearly 900 million monthly active users, more and more users will enter the Web3 world.
According to the development plan, the Telegram Apps will bring more mini-program and game applications. As a result, social NFTs and game assets NFTs will have a larger market share and proportion on the TON blockchain.
1. Mini-Program Applications
The first to benefit will be Fragment and Getgems. Currently, users rely on themselves to find and use these applications on Telegram. In the future, these functions will be more explicit, leading to an explosion in users and trading volume. Mini-program applications can also mint NFTs on the TON blockchain, allowing users to own social data and platform information through the TON network. These can be membership cards, reputation credentials, ownership credentials, collectibles, etc. Leveraging TON's blockchain technology can provide proof of the uniqueness and authenticity of digital assets, preventing assets from being copied or counterfeited. Users can also earn profits by selling NFTs. NFTs can break through geographical restrictions and achieve global circulation.
Telegram, as a large social platform, will provide a simple and easy way for users to verify and view on-chain ownership in TG, truly unleashing the potential of NFTs.
2. Game Applications
The Telegram Apps Center will soon welcome a batch of high-quality games. Currently, there are dozens of projects in development. They mint, trade, and use NFT game assets or NFT asset mappings on the TON blockchain network. These NFTs can serve as proof and ownership identifiers of virtual assets in chain games. NFT assets can be combined, synthesized, and nurtured, enriching the gameplay of games. Applying NFTs to chain games can establish a complete economic system for creating, distributing, and circulating virtual assets.
The on-chain games in the Telegram Apps Center will significantly lower the barrier for user participation in blockchain applications. Highly playable games will bring a large number of Web2 and Web3 users to the TON blockchain, and the popularity of games will promote the game NFT market. Players can buy, sell, and trade virtual assets in chain games on the NFT market, facilitating asset circulation. Players can also create NFT assets to enrich chain game content. In the future, NFTs for chain games on TON will become one of the most commonly used and traded NFT types.
To achieve all of this, NFTScan will serve as the most important infrastructure for NFTs on TON, ensuring the development and construction of the ecosystem and providing transparent on-chain data for users and a more convenient development environment for developers.
3. Lifestyle Service Applications
I am actively seeking various lifestyle service products, such as direct payment for flights and hotels with crypto, e-commerce, to provide a one-stop service. In the past, I made hundreds of cold calls with no results, but this time at Token2049, I was pleasantly surprised to find that many institutions have already started related businesses. I will actively explore this area in the future to help users in more regions access convenience.
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