Place/Date: - November 26th, 2020 at 3:24 pm UTC · 8 min read
The failed launch of the Telegram Messenger cryptocurrency project is one of the central topics of the outgoing year. The whole global cryptocommuinity held its breath while following the development of the conflict between the SEC and Pavel Durov’s TON. Few people believed that such an ambitious undertaking, backed by such a strong effort and vast financial resources, could be simply abandoned because of the regulatory pressure from the United States. However, the regulator won the face-off, and, as a result of its decision, one of the largest developments in the field of decentralization of financial relations was stopped when the product was almost finished.
However, it was unthinkable to simply abandon the results of the enormous work of TON developers. The development of TON continued; it was not anymore conducted by the Durov team, but by TON Labs as an independent project based on Telegram Open Network. The project was supported by over 7,000 companies and individuals, and the Free TON network was launched on 7 May 2020.
The main project document is not the usual Whitepaper but the Declaration of Decentralization (DOD). It states that Free TON sees its mission in maintaining the values of the free market, personal data protection, decentralized management, resistance to censorship, and cooperation of people around the world.
Free TON is a peering platform of multiple blockchains. Unlike other ones, TON-based blockchains have incomparably higher transaction speed and have initially been conceived as scalable. The Free TON economy is based on the TON Crystal coin, considerably different from classic cryptocurrencies in its architecture as well as in its distribution method: it was initially impossible to simply buy TON Crystal because the tokens were distributed through a competitive mechanism.
5 billion tokens, according to the idea of the project community, were distributed on a non-financial basis among the project participants who had made the greatest contributions to its development. Once the distribution of tokens is complete, the tokens are free to move – this is the stage that unfolds before our eyes today.
The Free TON network is fully decentralized, in conformity with the Declaration. Decentralization is a fundamental feature of network management, validation and software development. TON Crystal is distributed among as many network users as possible and all of them will be able to participate in the coin staking. The project is being worked on by several independent development teams. No validator can possess more than one-third of all the available network tokens.
TON is essentially an intermediary interface between the blockchain network and the users who are given a set of tools to develop TON OS applications, including Solidity and C++ compilers, databases and SDK. The user interface is represented by the TON Surf OS, which is partly similar to the Linux interface and includes a secure browser, wallet, and chat applications. Since the TON code is open, community members can actively participate in refining and improving its components.
So, is it possible to somehow buy TON Crystal? Today, yes, although the listing of such a coin, technically complex and distributed in such an unusual way, was not an easy task. The SIGEN.pro platform was among the first in the world to hаndle this challenge. The SIGEN.pro team is a great enthusiast of the Free TON project. The ideas behind the new TON resonate with the philosophy of SIGEN.pro, seeking to reach audiences around the planet. The platform allows to conclude transactions with the use of every single fiat currency of the world, and, importantly, no fee is charged for such transactions (0% fee for all transactions, input, and output, except for the fees charged by crypto networks). The platform also offers 24/7 customer support.
The SIGEN.pro ecosystem includes four main components: a cryptocurrency exchange, a few-click automated exchange, a multicurrency cryptowallet, and a peer-to-peer platform where participants can negotiate a favourable rate and buy or sell cryptocurrencies for any fiat currencies. At SIGEN.pro, users can make money from exchange rate fluctuations, amass cryptocurrencies, and exchange them for fiat money or other cryptocurrencies quickly and without intermediaries. Everything is absolutely safe, allowing for automatic withdrawal and, as we said, with zero fees.
After you register with SIGEN.pro, you will get your own free and secure multi currency crypto wallet for each of the supported cryptocurrencies. The wallet makes it easy both to add coins to the platform and to move them to other addresses, including exterior ones. It is also notable that SIGEN.pro uses a ‘cold-hot wallet’ policy when the bulk of customer coins are stored in the cold, i.e. in wallets not connected to the Internet. Only small amounts used for withdrawal operations are stored in hot wallets.
Before you start using your wallet, you need to generate your own unique address, which is then assigned to the client forever. After that, adding TON Crystal becomes possible. For security reasons, the coins can be only be withdrawn after you have passed the two-factor authentication. The KYC is not applied because the platform does not work directly with fiat accounts.
The SIGEN.pro mobile application is available for both Android and iOS, and can be downloaded in a few seconds. The interface is user-friendly and intuitive, allowing you to quickly, safely and profitably buy and sell TON Crystal, regardless of your location. The mobile application supports the full functionality of SIGEN.pro, with all settings and notifications except the automated exchange.
The exchange platform is a place to trade in cryptocurrencies. The working interface of the exchange is modular: you can customize the schedule, choose to display only the pairs that interest you, receive statistical information about them. The trading interface of SIGEN.pro is clear and convenient; it includes TradingView charts and a live chat.
As you can see from screenshots, at the moment of writing the article TON buy orders totaled 4.2 BTC (~$67,800) and TON sell orders reached 83,173 TON (~$84,000). The whole trading volume at the exchange over one month amounted to almost 176,700 TON.
SIGEN.pro Automated Exchange makes it possible to quickly and safely exchange the cryptocurrency in automatic mode at the current exchange rate, which is set at the time of the last necessary transaction confirmation. Because of the exchange rate fluctuations, you can eventually get a slightly different amount – a larger or a and smaller one.
The automated exchange allows you to buy or sell Ton Crystal automatically in few clicks.
SIGEN.pro p2p platform is designed to be as clear and simple as possible for the user to trade. It is a trade without intermediaries, completely transparent, where transactions are carried out directly between participants, and the security is guaranteed by the platform itself. Here you can create buy or sell offers on your own terms, and then wait for their acceptance by another user. It is also possible to choose any of the already created offers. The average time necessary to make a deal is 15 minutes.
Coins in a peer-to-peer transaction on the seller’s account are frozen by the ESCROW system – this is how the world’s largest trading platforms, such as AliExpress, work. This guarantees the security of the transaction – the coins are only sent to the buyer when the seller has confirmed the payment. To improve the security of payment confirmation, the platform uses two-factor authentication by mail, Google Authenticator (GA) or a code table.
As you can see from screenshots, at the moment of writing the article, TON buy offers on the p2p platform totaled 578,400 TON (~$584,184) while TON sell offers reached 3,699 TON (~$3,736). The total p2p weekly trading volume amounted to 42,961 TON (~$43,390).
The P2P application of SIGEN.pro allows to buy TON or sell TON for cash, bank transfer, electronic money etc.
All correspondence in the P2P transaction chat is recorded to avoid fraud. Disputes are settled by SIGEN.pro arbitrators, who analyze the situation in order to make a fair decision.
The statistics for TON Crystal at SIGEN.pro today are as follows:
These statistics sum up three weeks since the beginning of trading. The numbers are small, but growth is obvious. We invite everyone to join the buy/sale of tokens of the legendary project.
Also note that the SIGEN.pro trading platform is launching its own media portal. This is a full-fledged media resource that will soon start publishing interesting articles, reviews, news and other materials dedicated to cryptocurrencies.