Every few years, the cryptocurrency market is cleared of projects that appeared on a wave of market growth and investor optimism. This allows us to look at real technologies without the wrapper of marketing and hype.
Let’s look objectively at the biggest blockchains compared to The Open Network.
Bitcoin is a clumsy old man: there is no team developing blockchain, no visionary, and no ambition. Decentralization of assets is leveled by centralization of capacities among miners; in fact, BTC is controlled by 5 largest pools, the total capacity of which exceeds 50% of the hashrate.
Ethereum is more centralized, but also has an active team with a visionary at the head, which strongly affects prospects. The network, though not very actively, is developing, and the transition to the PoS algorithm, which, according to the developers, will increase throughput from the current 15 transactions to tens of thousands of transactions per second, is already close.
Once we understand the technical implementation of the update, it turns out to be not so rosy, a detailed comparison between TON and Ethereum 2.0 is available at the link ‘
The Open Network is the only 5th generation blockchain, as Binance analysts pointed out in their report back when TON was being developed by the Telegram team.
Blockchain is at an early stage of development, but it is already technologically superior to most of its competitors and has more ambitious plans for the future, going beyond financial transactions and the transfer of value between users.
Blockchain-based domains are only the first step toward the creation of a fully decentralized Internet. TON Sites and TON Proxy are scheduled to be launched this fall, allowing the creation of entire sites and embedded services built on smart contracts that are virtually immune to blocking and third-party interference.