Bitcoin
BTC$42 798.37

-0.61%

Ethereum
ETH$3 288.08

-0.93%

Binance Coin
BNB$486.03

-1.28%

Tether
USDT$1.000293

-0.01%

Cardano
ADA$1.47

9.41%

USD Coin
USDC$0.999403

-0.03%

Decentralized blockchain aims for Ethereum and DEX compatibility with new wrapped token


22 Apr 2021

#DEX

A highly scalable, decentralized blockchain platform’s new Ethereum-compatible wrapped token aims to provide it with access to liquidity-rich decentralized exchanges. Free TON is a multi-blockchain platform that can handle thousands of transactions per second thanks to its dynamic sharding mechanisms, which create new shards as needed. As a result, it is the fastest blockchain available, according to developers.

Despite that, the Free TON blockchain is still in the early stages of attracting DApp developers to its platform. Even with its scalability, an important task at this stage is to bring more liquidity to the platform. To do that, developers have announced the launch of Wrapped TON, a tradable TIP-3 token built on its native TON Crystal token.

With the ability to be transferred to and from the Ethereum network freely, the project’s developers see Wrapped TON — or WTON — as having two main purposes.

In the longer term, this will bring the Free TON project more users and transactions, as well as more projects, initiatives and integrations, Broxus believes. This in turn will, it hopes, lead to higher demand for the project’s core TON Crystal token.

TON Crystal tokens can be transformed into WTON and transferred to and from Ethereum with Broxus’ TON Bridge or via the Crystal Wallet. The fee is largely the cost of the Ethereum gas needed to complete the transaction.

Coming back strong

The Free TON blockchain project rose from the wreckage of Telegram’s proof-of-stake TON blockchain, which collapsed in June 2020 after an ICO lawsuit by the U.S. Securities and Exchange Commission. That forced the messaging app company to end its involvement with TON development, as well as return $1.2 billion of the $1.7 billion it had raised in an ICO to fund development.

That cost TON its most valuable asset — which wasn’t the money. Telegram’s plan was to give TON access to its 400 million monthly active users, who would be able to use it and its Gram tokens for in-app payments, among other things.

But with the TON community unwilling to abandon the nearly complete blockchain, the Free TON project — which had launched a month earlier as an infrastructure provider — took over development. By December 22, the TON community decided that there was sufficient decentralization — including more than 400 validators — to launch the mainnet. The Free TON project has been quite active since then, starting with its acquisition of the Dune Network distributed app platform via a community merger in February.


Related

DeFi and stablecoins held up well as crypto markets imploded
DeFi and stablecoins held up well as crypto markets imploded
Uniswap surpasses Coinbase Pro in daily volume
Uniswap surpasses Coinbase Pro in daily volume
Vitalik Buterin says Binance DEX only decentralized on paper, not in Practice
Vitalik Buterin says Binance DEX only decentralized on paper, not in Practice

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 73.2% 55 $42 798.37 -0.61% 1.96% $810 244 910 076 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66.8% 67 $3 288.08 -0.93% 4.18% $391 908 921 176 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 70.8% 52 $486.03 -1.28% 10.69% $81 070 817 335 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 96% 1 $1.000293 -0.01% 0.02% $78 422 507 589 USDT 7 days price change
5 Cardano (ADA) ADA Cardano predictions 72.8% 52 $1.47 9.41% 26.14% $49 180 930 341 ADA 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $0.999403 -0.03% -0.13% $45 444 626 250 USDC 7 days price change
7 Solana (SOL) SOL Solana predictions 65.6% 76 $143.58 -2.42% 2.15% $45 085 165 160 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 68.8% 58 $0.770542 -1.02% 2.14% $36 726 427 109 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 72.8% 59 $83.96 -2.70% 15.15% $30 105 929 387 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 72.8% 53 $26.64 -5.58% 6.85% $26 304 651 272 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 78% 46 $0.171858 -4.91% 13.62% $22 800 590 095 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 62.4% 76 $90.03 -2.50% 1.10% $21 999 747 677 AVAX 7 days price change
13 Polygon (MATIC) MATIC Polygon predictions 74% 54 $2.40 2.86% 13.87% $17 560 566 970 MATIC 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 71.2% 59 $0.000029 -3.15% 3.87% $16 190 359 531 SHIB 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000887 -0.02% -0.04% $14 460 011 930 BUSD 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.