Key Takeaways
- Toncoin Ecosystem Report for Q3, 2023 indicates that the number of Toncoin Accounts has risen to nearly 3.5, a whopping 250% surge in the last year
- A newly launched tracking service, TON Stats, also shows that on-chain active wallets on the network are growing steadily, as well as assets and valuables on the blockchain
- The report also shows several developments, new features, partnerships and events aimed at bringing the best out of the TON Ecosystem
The TON Ecosystem has seen lots of interesting developments this year. However, the last quarter (Q3, 2023) might be the most exciting quarter The Open Network (TON) has ever seen. From the number of projects launched by builders within the ecosystem to the rate of account growth, TON is now setting the pace for other blockchain networks.
According to TON Ecosystem Report Q3 2023, the number of Toncoin Accounts has surged by over 250% in the past year. Other key metrics that have improved significantly include on-chain active wallets and the number of assets/valuables stored on the network. Toncoin price has also gained significantly, rising by about 54.04% in the past year.
Toncoin Accounts’ Unprecedented Growth
Even before The Open Network (TON) Foundation launched as a Swiss non-profit, the Toncoin ecosystem was improving steadily. The recently launched tracking service, TON Stats, has revealed that TON accounts have grown steadily in the past year, reaching over 3.5 million.
Compared to what was obtainable a year ago, Toncoin Accounts have increased by over 250%. This is an impressive growth, even for a blockchain ecosystem introducing lots of innovations.
Other Key Metrics
Besides the impressive growth in the number of Accounts, the TON ecosystem has recorded improvements in other key areas. On-chain active wallets on the network have grown meaningfully to nearly 815,000. Approximately, 1,392 new wallets are created on a daily basis.
While the number of daily transactions continues to fluctuate, the stats are generally encouraging. With an average of 174,658 transactions per day, there is no sign of slowing down. Also, the number of assets and valuables stored on the TON blockchain continues to improve. Regular and steady growth has been observed on all fronts, including Jetton Wallets, NFTs minted, TON DNS sold and TON DND trading volume.
The number of validators on the network is also improving steadily. At the last official count, there are 344 active validators on the network, spread across 24 countries with nearly 500 million TON staked.
Other Highlights of the Report
The TON Ecosystem Q3 2023 Report covers other important areas of development the Toncoin community will be interested in. Below, we’ll briefly shed light on some of the major highlights:
TON X Telegram
Telegram and TON community have plans to continue working together, and the announcement made during TOKEN2049 conference solidified the commitments. According to Binance Research’s Monthly Insight, “Telegram’s integration of the TON Wallet, which fueled a notable rally in the TON coin’s value, appears to be the highlight of the month.”
TON Believers Fund
TON community has a new initiative that allows hardcore believers of the network to lock their tokens for five years and reap the attendant benefits/rewards. Already, over 500 million Toncoins (about 10% of total supply) are already locked into the initiative.
Wallet and TON Space
TON Space,a self-custodial software wallet, can integrate easily into Telegram’s Wallet feature, allowing users to have full custody and control of their assets and private keys. TON space will also seamless management of all assets, including NFTs, cryptos, Jettons and DNS. Wallet Pay is another major update for the Wallet feature to redefine crypto payment for ecommerce and services.
Telegram Mini Apps, Bots and tApps Center
Now, third-party developers can easily build mini-apps, bots and associated services that can integrate with Telegram. The tApps center will serve as a catalog for these apps and bots, including games. TON has also entered into strategic partnerships, including Tencent Cloud Partnership, to support developers who can help to expand the ecosystem further.
Development
The report also highlights several exciting developments within the TON ecosystem. Some of the most notable ones include TON Connect, Liqquid Staking on Tonstakers, Bridge Update, Developer Tools and more. We can’t possibly highlight the entirety of developmental achievements within the ecosystem in the last quarter.
Events
A number of mouthwatering events have been sponsored by TON Foundation recently. Multiple ‘Developer Contests’ have been hosted with several winners receiving significant rewards. The winner of “Telegram Web Applications based on TON” received $60,000. The winner of the ongoing “Telegram Mini App Contest” will receive $50,000, while the winner of another live event, “TON Tact Challenge” will receive $30,000.
The Gateway
The Gateway is another event that we must highlight. As the first in-person conference by TON, the event is aimed at achieving the lofty vision of getting the Toncoin ecosystem to serve as a gateway to Web3 for millions of users on Telegram. The event is scheduled to run from 10th to 11th November 2023 in Dubai, and every member of TON Community is invited.
Conclusion
The TON Ecosystem is growing at an unprecedented pace and the third quarter of 2023 has been a spectacular period. As the Ecosystem report indicates, the number of Toncoin Accounts has surged over +250% in the past year. Several groundbreaking initiatives have also been recorded in the last few months.
The Open Network (TON) Foundation has a lot at hand at the moment. The non-profit is not resting on its laurels yet. Rather, a lot of other concrete plans are in place to expand the ecosystem further and attract many more new users to the TON blockchain. It is truly an exciting time for the Toncoin ecosystem and one should keep an eye on Toncoin price prediction, going forward.
