1. TON’s Challenge and Confidence Display:
At 15:00 UTC on October 31, 2023, the TON development team conducted a public “performance test” live stream through the official Guinness website, aiming to prove the responsiveness and scalability of its blockchain.
Many blockchain projects have conducted performance tests, but it is rare to boldly live-stream the challenge of Guinness records like TON. This fully demonstrates the confidence and clear future development strategy of the TON development team. Next, we will delve into the performance indicators of TON blockchain and how it achieves its “fastest and most scalable” characteristics.
According to TON’s whitepaper, its development goal is to “Exchanging value should be as easy as exchanging information and blockchain technology ideally services that purpose”. To achieve this goal, TON has set the following three criteria:
- Speed and scalability to process millions of transactions per second, accommodating an unlimited number of active users and sustaining the operations of numerous apps.
- Intuitive user interfaces to make blockchain about people, not geeks and nerds, to help everyone buy, store, and transfer assets in a convenient, familiar way.
- Decentralization to ensure reliability, stability, and safety, and to take steps towards a safer, self-governed world.
2. Significance of Guinness Performance Challenge to TON Blockchain:
In the blockchain field, some milestone events or projects have been recognized as Guinness record holders, such as:
- Bitcoin - as the world’s first decentralized cryptocurrency.
- El Salvador - becoming the first country to make Bitcoin legal tender.
- Manchester City’s fan token - being recognized as the most valuable fan token.
- CryptoPunks - being rated as the world’s most expensive NFT collectibles.
These records have had a profound impact on the crypto-blockchain field. And the TPS world record set by TON will provide technical support for its future high-frequency information and value exchanges.
3. Importance of TPS in Blockchain:
TPS, or “transactions per second”, represents the number of transactions a blockchain can process per second. The level of TPS has a direct impact on the performance and practical applicability of the blockchain. Although most blockchains claim to achieve extremely high TPS, such performance is often difficult to achieve in real operation.
TPS has received widespread attention mainly because most blockchain developers and supporters firmly believe that blockchain technology has the potential to subvert the traditional internet structure and provide a more complete and transparent transaction mechanism. In our daily lives, fiat currency transactions are continuous, and the transaction speed of traditional centralized payment systems like Visa and Mastercard typically ranges from 1700 to 5000 transactions per second. This number has become a major standard for blockchain technology to challenge and replace traditional payment systems. Therefore, if blockchain wants to become a mainstream payment tool, its TPS must be sufficient to compete with centralized payment systems like Visa and Mastercard. TON’s successful challenge of the TPS record provides a solid technical foundation for its future large-scale applications.
4. Future Prospects of TON:
Looking back on the development history of TON, we can see that TON has continuously strengthened its infrastructure and performance optimization over the past two years. At the recent Token2049 conference, TON first publicly announced its vision of “Crypto in Every Pocket” and showed its determination to serve Telegram’s nearly 900 million users. Following that, TON decided to publicly challenge the Guinness performance record. These series of strategies and actions, from the market and technology perspectives, have laid a solid foundation for the future large-scale popularization Mass Adoption of TON blockchain.
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