# TON NETWORK

*New hype*

By [4li](https://paragraph.com/@4li) · 2024-05-10

cryptocurrency, web3

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TON (Telegram Open Network) blockchain is a decentralized network introduced by the team behind Telegram Messenger. It aims to provide a scalable and flexible infrastructure that supports decentralized applications, smart contracts, and instantaneous value transfer. It's built on a multi-blockchain architecture, leveraging Proof-of-Stake consensus mechanism for high speed and efficiency. Though Telegram had to abandon the project due to regulatory issues, the open-source community took over its development under the Free TON initiative.

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*Originally published on [4li](https://paragraph.com/@4li/ton-network)*