TonCoin stands for “The Open Network (TON)” is a multi-component decentralised and open Internet network. TONNE Blockchain, TON DNS, TONNE Storage, and TONNE Sites are among them. The TONNE Blockchain protocol is the central protocol that unites TON's underlying infrastructure to build the TONNE Ecosystem.

TON is committed to enabling extensive cross-chain interoperability inside a highly scalable and secure environment. TONNE is intended to perform millions of transactions per second (TPS), with the eventual objective of reaching hundreds of millions of users.

TONNE Blockchain is intended as a distributed supercomputer, or "super server," with the goal of contributing to the development of the decentralised vision for the new internet.

Pavel Durov, the founder of Telegram, initiated The Open Network (TONNE) blockchain project. Pavel Durov is the co-founder of Telegram Messenger and a Russian entrepreneur and programmer. He envisioned the Open Network as a decentralised platform that would offer a variety of services including communications, payments, and decentralised apps (DApps).

1. Ultra-fast transactions: potentially processing millions and even tens of millions of true Turing-complete smart contract transactions per second. 

2. Very low fees: TON intended to offer low transaction fees, with the average cost per transaction being just a few cents. This would have made it economically viable for users.

3. Easy-to-use apps: The goal was to provide a seamless and intuitive user experience for individuals and developers alike. By making the platform accessible and easy to interact with, TON aimed to attract a broader user base and foster the development of decentralized applications.

4. Small carbon footprint: TON aimed to be environmentally friendly by minimizing its carbon footprint. It's likely that TON intended to utilize efficient consensus algorithms and energy-efficient infrastructure to reduce energy consumption and associated environmental impact.

5. Shareable, multichain blockchain network: TON planned to implement sharding, which involves splitting the blockchain into smaller units called shards. This design allows the network to handle a large volume of transactions and accommodate the growing needs of its users while maintaining efficiency.

The Byzantine Fault Tolerant protocol, a proof-of-stake (PoS) consensus method, was planned to be used by TON. This consensus technique enables efficient and secure transaction validation by employing a group of validators chosen based on their network stake. 

The consensus protocol ensures that the majority of validators agree on the validity of transactions. Validators propose and validate blocks, and the consensus protocol guarantees that the majority of validators agree on the validity of transactions. The ability of BFT consensus to tolerate malicious or flawed behavior while retaining network integrity is well recognized.

The BFT consensus mechanism, when combined with PoS, provides strong protection against attacks and malicious activity. TONNE intended to ensure that transactions are authenticated and published on the blockchain accurately and securely by involving a wide collection of validators and employing cryptographic techniques.

Toncoin is the Open Network's (TON) native cryptocurrency, and it is utilized for network operations, transactions, games, and collectibles made on TON. Toncoin has a total quantity of 5 billion coins, with a small percentage (1.45%) going to developers and testers. Toncoin is a Proof-of-Stake network that is kept secure by independent validators that stake the TONNE token.  

Toncoin is also utilized for network security by way of nominator pools. Toncoin's price fluctuates, but it is now worth roughly $1.39, with a market valuation of $3.09 billion. It seeks to create a true Web3 internet with an anonymous network, decentralized storage, rapid payments, and a variety of other decentralized services.

The TON Foundation, which runs the TON( Open Telegram Network) blockchain, has announced the establishment of an accelerator program for new enterprises. This year, the Toncoin Fund, a $250 million ecosystem fund, has been awarded up to $25 million by the foundation to support selected projects. The program's emphasis is on decentralized finance (DeFi) projects. 

Each selected project will receive a $50,000 to $250,000 investment, as well as mentorship and partnering opportunities. Gotbit, Web3port, Tonstarter, TEB, and Cypher Capital are among the accelerator partners. Submissions are now open, and projects must be built on the TONNE blockchain and be ready for an MVP. Using Web3 protocols, the program attempts to develop and evolve the incubator principle.

For more information on Toncoin, visit Suncrypto Price Explorer.