The TON Foundation, one of the initiatives building atop Telegram's blockchain project titled "The Open Network" (TON), has selected the TONcoin Fund as its official ecosystem fund. The Open Network (TON), previously called Telegram Open Network, is a layer-1 blockchain that relies on a proof-of-stake (PoS) consensus mechanism and was initially developed by the Telegram team. It is highly compatible with the privacy-focused messaging app Telegram and offers ultra-fast transaction speeds, an intuitive interface, seamless integration with Telegram for easy user onboarding, and low fees.
