- Twitter & Square CEO Jack Dorsey Wants More Cryptocurrency Engineers for Crypto Project
- Famed 'Silk Road' IRS Agent Now Aims at Unreported Crypto Gains
- Cybersecurity Report: New Monero Mining Malware Hides within Certificate Files
- RBC: Facebook Will Release a Whitepaper of its Cryptocurrency Project this Month
- The FDA Partners with Walmart, IBM, Merck to Improve Pharma Supply Chain via Blockchain
Blockchain has been mocked for several shortcomings including price volatility, lack of standard regulation, and inability to process as many transactions as credit cards or debit cards. Well, Telegram’s TON team took it upon themselves to eliminate the last drawback by creating a medium to allow for millions of transactions at the same time.
Telegram Open Network’s (TON) dApp developers (of the BUTTON Wallet) revealed last week that they plan on using sharding to scale up TON to up to 300 million transactions on the network. Using the sharding method, users will be allowed to communicate easily and more efficiently.
TON intends on using a masterchain and a shardchain. The shardchains will be able to communicate with each other via Hypercube routing. Each shard represents a blockchain that enables effective communication with another shard. For seamless communication, the developers affirmed that the system is integrated with its virtual machine that allows for manipulation of data between several shards. So, we are sure of fast and efficient communication and transactions. The dApp developers also divulged that some elements will be borrowed from future principles of Ethereum 2.0.
Besides the virtual machine, TON also intend to employ smart roles such as Nominators, Validators, Fisherman, Collators. These smart tools and roles will also greatly contribute to scaling up communications and transactions in the network. The developers also revealed the launch of TON lite client, and there’s a smart contract already deployed to testnet. Lite client is aimed at making the developing experience a whole lot better than what it had used to be. The Lite client is written on C++, and it sure looks better. Consumers interested in deploying a testnet contract will have to build a Lite client and run it with some specific configuration.
I must add that some of these roles, especially the Fisherman role is a close replica of that of PolkaDot. In fact, some developers admit that it is indebted to PolkaDot for the Fishermen and Nominators terminologies. In addition, they recognize PolkaDot as the “best thought-out and detailed proposed multichain Proof-of-Stake projects.”
This is a great task, but if there is a team which can fit the bill then, the TON team is most definitely that team, in my opinion. After all, Telegram did raise a ludicrous amount of capital in two separate insane ICOs (nearly $2 billion).
Since its inception, TON has gone through several upgrades and challenges to get to where it is today. It is impossible to list the top 5 world-leading blockchains over the next few years without mentioning TON. So, I am positive they will pull this off perfectly. We have our hands crossed as we await more developers tools and insights being released. Trust us to keep you updated.