TON Blockchain Unveils Decentralised File-Storage Solution 

TON Blockchain

The Open Network Foundation has announced the launch of TON Storage – its blockchain-based decentralised file storage solution. The system will incentivise node operators for providing space to store and exchange files on the TON network.

TON Foundation, a not-for-profit group behind The Open Network or the TON blockchain, has launched its long-awaited decentralised file sharing and data storage solution called TON Storage, which aims to solve a host of issues faced by existing systems when it comes to data storage. 

TON Storage functions similar to torrents, which are internet-based peer-to-peer file sharing systems, but instead uses blockchain technology to transfer data of any size through a decentralised, secure and private computer network where all information is automatically backed-up and encrypted. 

In traditional torrents a file can only exist if the data is stored by at least one node on the network. However, the system does not have any incentive model to encourage node operators to store a file for longer periods, and as a result there is no guarantee of whether any given file will exist on the network in the long run. This is where blockchain-based storage solutions play its role. 

TON Blockchain Unveils Decentralised File-Storage Solution 

TON Storage will incentivise node operators with the help of smart contracts. Under this model, an operator and a user will create a contract on the TON blockchain which will guarantee that the user pays a fixed fee in Toncoin (TON) to the operator to store files for a predetermined period of time. The foundation says that anyone can become a node operator on the network and be eligible to receive payments from users for hosting files. The group believes that by opening up the service to a larger audience, TON will be adopted by more users, helping the ecosystem grow exponentially.  

“The launch of TON Storage was long-awaited; this technology can be used by both individual users and services with a multimillion-dollar audience. Providing a reliable distributed storage solution is the next step in realising our vision of a decentralised, open internet,” said Anatoly Makosov, a founding member of the TON Foundation. 

The storage solution will combine with TON-based DNS (domain name systems) to launch websites on the blockchain without the need for a fixed IP address, a centralised domain, or a web server. With the launch of TON Storage, the foundation’s efforts to build a fully decentralised internet is becoming closer to reality. 

Last December, popular messaging app Telegram partnered with the network to release a feature allowing users to log-in to their accounts using blockchain-powered numbers instead of their personal phone numbers. Users can now mint or purchase unique numbers or usernames on Telgram’s own NFT marketplace called ‘Fragment.com’ which is deployed on the TON blockchain. Earlier last year, the instant messaging service also integrated TON wallets to its app for users to send or receive toncoin. 

TON, which was originally launched by Telegram in 2018, was then known as the Telegram Open Network. However, the company had to abandon the project in 2020 after the U.S Securities and Exchange Commission (SEC) launched an investigation after it raised $1.7 billion in a private sale of toncoin tokens. TON was revived by open-source developers in 2022, who saw potential in the project and rebranded it as The Open Network and developed a functional mainnet. Pavel Durov, the co-founder and CEO of Telegram who was also the brains behind TON, said that his company will collaborate with the network for developing blockchain-based solutions. 

The Open Network’s proof-of-stake (PoS) blockchain also allows users to assign human-readable names to their crypto wallets and smart contracts. At the time of writing, TON is trading at $2.17 – down 0.1% in the last 24-hours. 

Also Check: Shopify Merchants Can Now Sell NFTs Minted On Avalanche 

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