Ton
A public, decentralized layer-1 blockchain originally developed by Telegram and subsequently maintained by an independent, community-run TON organization.
Last updated August 31, 2026
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Overview
The Open Network, commonly abbreviated as TON and also called the TON Blockchain, is a public, decentralized layer-1 blockchain platform. It provides infrastructure for cryptocurrency transfers, smart contracts, decentralized applications, and other blockchain-based services. Its native cryptocurrency was initially introduced under the name Gram and is commonly known as Toncoin, with the network using the ticker TON. The project originated with Telegram Messenger Inc. and TON Issuer Inc. in 2018. Telegram explored the network as a blockchain infrastructure project and raised approximately US$1.7 billion through two private Simple Agreements for Future Tokens rounds to finance development. Nikolai Durov was associated with the project's technical creation and the original Telegram Open Network white paper. The project was intended to support a high-throughput blockchain ecosystem and to connect decentralized services with Telegram's large messaging user base. The original project encountered a major regulatory dispute in the United States. In 2019, the U.S. Securities and Exchange Commission brought an action concerning the distribution of Gram tokens, arguing that the offering involved an unregistered securities sale. A United States court issued an injunction in 2020, and Telegram subsequently abandoned its direct role in the project following a settlement with the SEC. After Telegram's withdrawal, the network's name changed from Telegram Open Network to The Open Network, reflecting its separation from the messaging company. Development and governance subsequently moved to independent, open-source and community-led organizations, including the TON Foundation and TON Core. The resulting project retained the TON name and continued development outside Telegram's corporate structure. This distinction is important: TON is historically linked to Telegram, but it is not the same entity as Telegram Messenger and is not presented here as a Telegram-owned corporate subsidiary. TON's principal offering is its blockchain network, which is designed to support cryptocurrency transactions, smart contracts, and decentralized applications. Toncoin functions as the network's native medium and is used within the broader TON ecosystem. In April 2022, peer-to-peer transfers through Telegram's @wallet bot became available, demonstrating an ongoing practical connection between TON-related services and Telegram users. In April 2024, Tether issued a native version of USDT on TON, expanding the network's supported digital-asset infrastructure. Telegram renewed its relationship with TON in September 2023 by selecting TON as its Web3 infrastructure partner and integrating a TON-based wallet into the official Telegram application. This integration strengthened TON's positioning as a blockchain infrastructure layer associated with Telegram's Web3 strategy, while the underlying network remained independently developed and governed. TON therefore occupies a distinctive position between general-purpose blockchain infrastructure and messaging-oriented Web3 distribution: its public network is intended for broad decentralized use, while its strongest visible ecosystem connection is Telegram's global communications platform.
History
The Open Network began as the Telegram Open Network, a blockchain project associated with Telegram Messenger Inc. and TON Issuer Inc. The project was initiated in 2018 and was technically associated with Nikolai Durov, who also co-founded Telegram. Its original objective was to create a public, high-throughput blockchain capable of supporting digital-asset transfers, smart contracts, and a decentralized application ecosystem. The project was described in an original technical white paper and used the proposed cryptocurrency name Gram. To finance development, Telegram Messenger Inc. and TON Issuer Inc. sold Gram tokens through two private Simple Agreements for Future Tokens rounds. The fundraising reportedly generated approximately US$1.7 billion. The arrangement attracted regulatory scrutiny in the United States. In 2019, the U.S. Securities and Exchange Commission filed an action challenging the planned Gram distribution, maintaining that the token offering constituted an unregistered securities offering. The dispute became the defining early legal event in the project's history. A United States court issued an injunction in 2020, preventing Telegram from proceeding with the planned distribution. Telegram subsequently settled with the SEC and abandoned direct involvement in the project. After Telegram's withdrawal, the network was renamed The Open Network, or TON, to signal that it was no longer a Telegram-controlled project. Independent developers and community organizations continued work on the open-source codebase and network. The post-Telegram project became associated with the TON Foundation and TON Core. These organizations have been described as independent and community-run rather than as subsidiaries of Telegram. This transition changed TON's institutional identity but did not eliminate the project's historical connection with Telegram. TON continued to emphasize a general-purpose blockchain role, while Telegram later became an important distribution and integration channel for TON-related services. In April 2022, peer-to-peer transfers became available within Telegram through the @wallet bot. The feature gave users a way to interact with TON-related cryptocurrency services from inside the messaging application. In September 2023, Telegram selected TON as its Web3 infrastructure partner and integrated a TON-based wallet into the official Telegram app. The partnership reinforced TON's positioning as infrastructure for messaging-connected Web3 services, while the network itself remained independently maintained. The ecosystem expanded further in April 2024, when Tether issued a native USDT version on TON. The addition connected the network with one of the most widely used dollar-denominated digital assets and broadened the range of assets available for transfers and decentralized applications. TON's core scope remains its public blockchain, native cryptocurrency, smart-contract environment, and associated decentralized applications. The native currency has been referred to as Gram in the original project materials and as Toncoin in the later network identity. On June 1, 2026, TON announced plans to restore the Gram name for the native currency. This proposed change represents a return to the terminology used in the first white paper, although the network's post-2020 institutional identity remains The Open Network rather than Telegram Open Network. TON is therefore best understood as an independent blockchain project with Telegram-era origins, community-led post-Telegram development, and an ongoing strategic relationship with Telegram.
- 2026
TON announces proposed Gram currency renaming
[1]TON announced plans to rename its native currency from Toncoin to Gram, returning to the name used in the original white paper.
- 2024
Native USDT launches on TON
[1]Tether issued a native version of USDT on the TON network.
- 2023
Telegram names TON its Web3 infrastructure partner
[1]Telegram selected TON for its Web3 infrastructure partnership and integrated a TON-based wallet into its official application.
- 2022
Telegram wallet transfers launch
[1]Peer-to-peer transfers became available inside Telegram through the @wallet bot.
- 2020
Telegram exits and the project adopts The Open Network name
[1]After a court injunction and settlement with the SEC, Telegram abandoned direct involvement and the project moved toward independent community-led development under the TON name.
- 2019
SEC legal action begins
[1]The U.S. Securities and Exchange Commission challenged the planned Gram distribution as an allegedly unregistered securities offering.
- 2018
Telegram Open Network project begins
[1]Telegram Messenger Inc. and TON Issuer Inc. began developing the Telegram Open Network and financing it through private Gram-token SAFT rounds.
Products and positioning
High-throughput decentralized layer-1 infrastructure for cryptocurrency transactions, smart contracts, decentralized applications, and Web3 services, with a notable integration and distribution relationship with Telegram.
Layer-1 blockchain · 2018
TON blockchain
The TON blockchain is a public, decentralized layer-1 network designed to process cryptocurrency transactions and support smart contracts and decentralized applications. It is the central platform around which the TON ecosystem is organized. The network began as Telegram Open Network but continued under independent, community-led development after Telegram withdrew in 2020.
Native cryptocurrency
Toncoin
Toncoin is the native cryptocurrency associated with the TON blockchain. The currency was originally introduced under the name Gram, while the later TON identity commonly used the Toncoin name and TON ticker. It functions as the network's native medium for blockchain activity and ecosystem transactions.
Cryptocurrency wallet · 2022
TON-based wallet
The TON-based wallet offering provides a way for users to hold or transfer digital assets connected with the TON ecosystem. Wallet functionality became accessible within Telegram through the @wallet bot in 2022, and Telegram later integrated a TON-based wallet into its official application as part of its Web3 partnership.
Blockchain application platform
TON smart-contract and decentralized-application ecosystem
TON provides infrastructure for smart contracts and decentralized applications. This ecosystem is broader than the native currency itself and is intended to support blockchain-based services, digital-asset activity, and Web3 applications operating on the public network.
Controversies
2019
SEC challenge to the Gram token offering
The U.S. Securities and Exchange Commission challenged Telegram's planned Gram-token distribution, alleging that it involved an unregistered securities offering. The dispute resulted in a 2020 court injunction, Telegram's settlement with the SEC, and Telegram's withdrawal from direct participation in the project.
Brand decisions
2026
Announce a proposed return from Toncoin to GramOtherBackground
The original TON project used Gram as the proposed name for its native currency, while the later network identity commonly used Toncoin.
Action taken
TON announced plans to rename its native currency from Toncoin to Gram.
Aftermath
The proposal would restore the original currency terminology; the available reference does not establish its subsequent implementation.
2023
Adopt TON as Telegram's Web3 infrastructure partnerStrategyBackground
Telegram sought a blockchain infrastructure partner for Web3 functions after TON had continued as an independent project.
Action taken
Telegram selected TON and integrated a TON-based wallet into its official application.
Aftermath
The arrangement restored a formal strategic relationship between Telegram and TON without converting TON into a Telegram-owned subsidiary.
2020
Separate TON from TelegramStrategyBackground
The SEC dispute and resulting United States court injunction prevented Telegram from proceeding with the planned Gram distribution and materially changed the project's original corporate structure.
Action taken
Telegram abandoned direct involvement, and the project continued under the name The Open Network through independent, open-source and community-led development.
Aftermath
TON became institutionally distinct from Telegram while retaining its historical technical and branding origins in the Telegram Open Network project.
Sources2 sources
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