Platform TON from the Telegram: technical description and first impressions

14 Jan created 12 Jan Telegram-the Telegram channel Open Media (TOM) were the first documents that can be called a technical description of the future of cryptocurrency platform TON (Telegram Open Network), developed by the creators of the messenger Telegram. Despite the fact that they received from unofficial sources, the document entitled TON Technology, which, according to the text, is Nikolai Durov, the impression of true. Important: the command Telegram refused to use the existing blockchain platforms, and creates its own.

This text is a General description of Telegram Open Network (TON) and technology serving the network of the blockchain, P2P communications, a distributed information storage and related services. To improve «readability» of the text, the main focus is given to the unique features of the platform serving the stated goals.

In the technological part of the future platform does not contain any revelations, instead, the authors intend to use many of the existing developments that are going to use in the near future in the projects that are in various stages of readiness.

Blockchain TON

The basis of the network is the blockchain TON. This is another option most promising to date, the concept of multidimensional blockchain, consisting of a multitude of blockchains – sharding, where each validator will only validate the transaction related only to that shard. This is the system that supports Turing-complete smart contracts.

As a method of consensus is Proof of Stake, which guarantee the integrity of the validators serve their deposits – they may be confiscated wholly or in part, on the model of the existing consensus Tendermint or in development Casper. Unlike network Cosmos/Tendermint and Ethereum with Casper where any holder of a token can be a validator, TON provides close to a static set of validators, which is a significant disadvantage for public blockchain.

A new set of validators is compiled each month (or, more precisely, 2^29 units core network), and its composition known in advance. In paragraph 2.6.3, which describes the formation of validatory pools, said (in fact, in established terminology, which for some reason do not want authors to use such validators are called masternode):

Willing to become a validator needs to buy or maintain high-performance servers and provide them with a continuous connection to the Internet. It’s cheaper than the content of the ASIC-farms for mining bitcoins, however, it is safe to say that mine TON from a home computer, not to mention the smartphone, it is impossible. […]

TON introduces the concept of nominator (nominator) – node, which lends to the validator a certain amount of tokens that he puts in validatory Deposit, thereby increasing its rate. In exchange, the nominator receives a proportionate share of remuneration. […] However, if the validator is losing their deposits due to unscrupulous behaviour, the nominator may also lose your Deposit, so it needs a responsible approach to the choice of validator.

In other words, consensus is a kind of system Delegating PoS, ispolzuetsa networks Bitshares and Steemit, as well as in the future network of one of the competitors TON – blockchain EOS. The disadvantages of this system were already discussed in detail earlier. Interestingly, in paragraph 2.8.5, the author himself comes to the conclusion about the superiority of consensus over BFT PoS DPOS that did not prevent him, however, to use it, albeit in a significantly modified form.

Comparison with existing platforms

Significant place in the description of technology TON is paid to the comparison of the future platform as the already employed, and in the development of blockchains. The author offers his own classification of the generations of the blockchain:

  • The first generation. The only chain, PoW, support smart contracts is missing. Examples: Bitcoin (2009), many of his imitators – Litecoin, Monero, etc.

  • In the second generation. The only chain, PoW, smart contracts. Examples: Ethereum, at least in its current form.

  • Third generation: Single chain, PoS, smart contracts. The next Ethereum (2018 or later). Generation 3: the Multi-chain smart contracts no. Bitshares (DpoS 2013).

  • Fourth generation: Multi-circuit, PoS, smart contracts. PolkaDot, EOS (DpoS).

  • Fifth generation. Multi-circuit, PoS, smart contracts, sharding BFT. TON – 2018.

The author paints a TON of advantages over your competitors. In particular, his arguments against Ethereum (the main target of the author, because «the killer Ethereum» is an old meme) is not unfounded: the transition from the first PoW hybrid PoS+PoW (Casper FFG), and then to pure PoS, will require a radical «breaking of the genome», that is, in fact, the creation of parallel platforms while ensuring backward compatibility with all the already created applications.

However, the reproduction of the advantages of the TON before the ones listed in the block chain not as interesting as the lack of mention of other projects that may compete with TON and also are in more advanced stages of development. In other words, the description of technology TON picked up «friendly» sparring partners, and «uncomfortable» are not mentioned, as though they never existed. Given the qualifications of Nikolai Durov, it is difficult to assume that he is not aware, for example, the Dfinity project that has an obvious resemblance to the TON and thus has a Virtual Machine, EVM is fully compatible with Ethereum. As for fifth generation technology project RChain is not inferior to the TON, if not more. So, a short description of the layer information storage in TON is almost identical to Special K – layer distributed storage of files to Rchain.

ICO TON

According to the same unofficial documents, closed the presale of the project is already underway, and it involves institutional investors, receives tokens at a special fixed price. Tokens belonging to such investors, will not go into circulation before a year. Main. ICO is planned for March 2018, and it will be conducted in accordance with the recommendations of the SEC, only among accredited investors and in accordance with the agreement, SAFT. This scheme has already been applied in the conduct of the regulated ICO Filecoin, and its organizers were subjected to sharp criticism from the community.

In addition to the ICO will be able to participate only to accredited investors, became known for the following features:

  • At the initial stage of active development TON, at least 42% of tokens GRAM will remain in TON Reserve to protect the rate of the token from speculative trading and to maintain the project in the early stages of system evolution.

  • The remaining 44% (2.2 billion GRAM) will be sold in accordance with the formula in which each next token will cost more than the previous one:
    p(n)=0.1*(1+10^-9)^n USD

  • Road map TON

    • 1st quarter 2018 – Launch of an external identifier in the Telegram (KYC/AML).

    • 2nd quarter – Start test network TON the minimum version.

    • Q3 – Test and audit code TON.

    • Q4 – Placement of stable version TON.

    • 4th quarter – Start easy purse TON, built in Telegram.

    • 1st quarter 2019 – the Beginning of the creation of economy TON in the Telegram.

    • Q2 – start of service of distributed file storage service, and anonymous payment.

    First impressions

    The first version of the technical description of the platform raises more questions than it answers, and this is not unusual – in any case, you must wait for official information. All that is required from the team Telegram is a clear system of communication with the community and what is happening now is incomprehensible stuffing and a lack of official information, do not increase the credibility of the project.

    The technical part of the project does not have any breakthroughs, however, has adopted advanced technology. True, perhaps, that technology is concerned with the team not in first place. The main advantage seems to the authors is different: it is the existing user base of Telegram. She is a major competitive advantage:

    • In October 2017 Telegram has 170 million users per month. A day sent 70 billion messages.

    • In December 2017 the number of downloads of the app Telegram has reached 5 million.

    • In the first quarter of 2018, the team predicts the size of the audience of 200 million users a month.

    Of course, these figures look impressive, but do not forget that the audience of mobile applications is not loyal and can easily migrate to other applications. In addition, it should be noted that the first company to integrate cryptocurrency into your messenger Kik, have not yet achieved much upehov, and even failed to give the finished product, though
    her ICO
    took place in September 2017.

    Telegram Open Network – technical details

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