Kseniia is the Chief Content Officer of Coinspeaker, holding this position since 2018. Now she is very passionate about cryptocurrencies and everything connected with it, so she tries to ensure that all the content presented on Coinspeaker reaches the reader in an understandable and attractive way. Kseniia is always open to suggestions and comments, so feel free to contact her for any questions regarding her duties.
Cryptocurrency today is the ocean of mixed and heterogeneous information that has to be thoroughly filtered through in order to get an inch of understanding on how to operate on a crypto marketplace. In that vast void of shallow news and countless advice how to fish out a valuable insight on what’s coming next? Luckily, it all breaks down to some simple tips.
It is crucial to look at the liquidity side of the system when making any investment decisions. In order to be on the front line of the upcoming rise and expansion it is worth thinking about Free TON. This new young token was launched on May 7, 2020 and though was not yet traded on traditional exchanges it is showing liquidity on cryptocurrency exchanges and has a promising and aspiring future. Official decentralization statement of Free TON points out that the key goal is to create a fully decentralized internet ecosystem that fulfills the wishes of its founding fathers, the Durov brothers. Creation of the intuitive protocol which will be easily employed by the millions of users all over the world will build a safety net of blockchain with protected contracts, promoting fair trade, and even chances to thrive, all within a censorship-free setup. The Free TON aims to outshine Bitcoin and technically has all the blocks needed to wave up the financial ecosystem we know today.
There is one more indicator worth looking at when considering a crypto project, the presence of a strong and sustainable community of enthusiastic users. Free TON potently covers this area too as an open-source project with a novel method of token distribution. From day one it was settled that tokens would not be sold. So a revolutionary system of token distribution was needed. Free TON created what they call a Meritocratic Token Distribution model. This model is formed by the desires and vision of their community members.They can for instance offer to start a competition which all members can take part in. By means of decentralized management system members of the community pick the info that will be valuable for both the network and its users. Then they allocate the funds and pick a jury, who later on will decide on the winner using private identification keys so the tokens will be distributed upon agreement. This system defines Free TON as a uniquely decentralised blockchain network with a highly engaged community. At this moment community members are at the process of creating decentralized exchanges like Uniswap.org. However, the similar exchanges offer much higher fees. Currently, there are about 80 million Free TON tokens in circulation, around 40 million of which are in the hands of 400 community members and are used for network validation and group adjustment. A series of contents was organized in order to distribute the rest 40 million tokens.
In order to check altcoin’s chances for possible future headway it is important to look at the technical side of things. How scalable and how fast is the decentralized technology? Is it convenient? Dr. Nikolay Durov, the official founder of TON blockchain, says that the chairman of the 5th generation of blockchain technology is the Free TON project. Free TON is the first to demonstrate specific features such as vertical blockchain mechanisms and its Instant Hypercube Routing feature which makes millions of transactions per second possible. It supports a shardable custom work chain with native sharding support. Alexander Filatov, a managing partner at TON Labs, said:
“Free TON is the only production blockchain (since May 2020) that has dynamic sharding, or to be more concrete, multithreading. This means tremendous scalability. It was originally developed by Telegram to handle hundreds of millions of high-load users. This design has been implemented and we will see it emerge alongside some of the use cases that are currently being developed by the community as we speak demanding serious throughput levels as well as speed, latency and finality. For speed, take a look at ton.live explorer for example. Blocks are formed every 0.2 seconds”.
The upcoming future of fin tech will be largely defined by cryptocurrency. Both investors and blockchain enthusiasts need diligence. Such instruments as decentralization and meritocratic models allow us all to participate in creating the future and moving humanity forward.