Telegram’s TON Becomes World’s Fastest Blockchain, Outpaces Visa and MasterCard
The Telegram Open Network (TON) has established itself as the world’s fastest blockchain, demonstrating its ability to process a record number of transactions per second. During its recent public performance testing, TON achieved an exceptional speed of 104,715 transactions per second (TPS).
On October 31, the blockchain commenced public testing, processing around 42 million transactions at a rate exceeding 104,000 TPS. This achievement surpasses even the most popular blockchains such as Bitcoin, Ethereum, Solana, and many others. TON has evolved into the fastest and most scalable network among those currently in operation.
Remarkably, TON’s exceptional performance places it at the top of the list of leading blockchains in the industry and positions it as a leader in the field of payments. The network has outpaced the processing speed of centralized payment giants with enormous user bases, including Visa, MasterCard, and PayPal.
Not long ago, TON integrated with the affiliated messaging platform, Telegram, introducing TON wallets. This integration significantly improved the token’s market efficiency, making it easily accessible to Telegram’s vast user base of 800 million people. Users can employ these crypto wallets for self-storing cryptocurrencies and conducting transactions. The wallet facilitates buying and selling various cryptocurrencies, including Bitcoin. However, this feature is not available to U.S. citizens and some other countries.
The CoinCodex algorithm categorizes TON as one of the most popular altcoins in the past month. Since its launch, TON has climbed to the 9th position among all cryptocurrencies in terms of market capitalization. While this move allowed it to surpass Solana in terms of market cap, Solana also competed with the popular network in terms of speed.
At present, TON is trading at around $2.24. Over the past 24 hours, the token has gained 3.26%, and in the last month, it has seen a 9.04% increase. Although the record level of $4.91, recorded in December 2021, remains a distant target, the latest demonstration of capabilities has instilled confidence in future growth.
Pavel Durov commented on TON’s record, stating, “We made the right choice by selecting TON as the blockchain platform for Telegram. From a technological perspective, competitors are years behind in scalability. Bitcoin is likely to stay, but other general-purpose blockchains seem outdated.”
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- I'm Martin Harris, a tech writer with extensive experience, contributing to global publications. Trained in Computer Science, I merged my technical know-how with writing, becoming a technology journalist. I've covered diverse topics like AI and consumer electronics, contributing to top tech platforms. I participate in tech events for knowledge updating. Besides writing, I enjoy reading, photography, and aim to clarify technology's complexities to readers.
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