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Polygon Powers TON Blockchain New Layer-2 Network

In an era where blockchain technology is revolutionizing various sectors, the collaboration between Polygon and TON blockchain marks a significant leap forward. This partnership sees the launch of a new Layer-2 network, poised to enhance transaction speeds, reduce costs, and increase scalability. With Polygon’s reputation for security and innovation, coupled with TON’s efficient blockchain solutions, this initiative is set to redefine the landscape of decentralized finance (DeFi) and beyond. Their combined efforts underscore the growing importance of synergy between blockchain networks to address the industry’s most pressing challenges.

Overview of Polygon’s Technology

Polygon, initially known as Matic Network, presents itself as a robust scaling solution designed to enhance blockchain efficiency by increasing transaction speeds while simultaneously reducing costs and complexities. Central to Polygon’s mission is its focus on Ethereum, a platform that supports decentralized applications (dApps) encompassing everything from virtual reality to financial transactions. However, the high traffic and increasing transaction costs on Ethereum have led to significant performance bottlenecks.

Addressing these challenges, Polygon operates as a layer-2 network, meaning it functions as an auxiliary layer to Ethereum without altering the original blockchain. This approach allows Polygon to offer multiple benefits, including various forms of scalability, security enhancements, and an environment conducive to developing interconnected networks. The architecture of Polygon comprises four distinct layers, each responsible for a set of functions essential for its operation.

  1. Ethereum Layer: This layer consists of a series of smart contracts executed on the Ethereum network, facilitating crucial operations such as staking, transaction finality, and inter-chain communications between Polygon and Ethereum.
  2. Security Layer: Operating as validators-as-a-service, this layer adds an additional security measure to the network, safeguarding transaction integrity across the chains.
  3. Networks Layer: Developed by Polygon, this layer features a collection of blockchain networks, each managed by its community responsible for block production and achieving consensus locally.
  4. Execution Layer: Housing Polygon’s implementation of the Ethereum Virtual Machine (EVM), this layer supports the execution of smart contracts, further enhancing the network’s utility and flexibility.

Polygon’s innovative design allows for seamless communication between the Ethereum main chain and various Polygon chains through its arbitrary message passing capability, fostering a multitude of new applications, including interoperable dApps and cross-platform value transfers. Moreover, the MATIC Sidechain, operating under a Proof-of-Stake model similar to other blockchains, emphasizes efficiency by bundling transactions and settling them on the Ethereum main chain.

The network’s ability to process up to 7,000 transactions per second starkly contrasts with Ethereum’s capacity, highlighting Polygon’s role in addressing scalability through off-chain and Layer-2 solutions. These solutions are critical for the widespread adoption of cryptocurrency by alleviating the load on the main blockchain and distributing transaction processing across the network.

Introduction to TON and Its Blockchain

Background of TON Blockchain

The Open Network (TON) is a decentralized, layer-1 blockchain initially developed by the team behind the popular messaging app Telegram, specifically by the Durov brothers. The journey of TON began when Telegram, under the leadership of Pavel Durov, sought to create a blockchain platform that could integrate with its messaging service to enable secure, fast, and scalable applications. In 2018, Telegram released a whitepaper for the Telegram Open Network, drawing significant attention and investment through a highly successful initial coin offering (ICO) that raised $1.7 billion.

Despite Telegram’s withdrawal, the project lived on through community efforts. Developers and blockchain enthusiasts from around the world rallied to continue the development of TON’s technology under new guises, such as Free TON and later simply as The Open Network, maintaining the project’s vision and expanding its capabilities without Telegram’s direct involvement.

Connection with Telegram

Telegram is the center of gravity of every blockchain community. Its popularity is triggered by its security and encryption features, becoming the de-facto standard communication platform for different sectors like politics, coding, entertainment, and business. There is a rapid adoption of Telegram in the cryptocurrency/blockchain community. For different reasons, it is perceived as a professional and trusted alternative to WhatsApp.

Telegram channels are a tool for broadcasting public messages to large audiences of Telegram’s unidirectional communication model, similar to broadcasting platforms where users are not able to comment or reply to posts. Telegram allows channels to have an unlimited number of subscribers, making it the perfect tool to publish news, announcements, and project milestones without the clutter of debates, feedbacks, and off- topic discussions.

The presence on Telegram can boost people’s trust in a blockchain project as it means that the team behind the project is open to questions, suggestions, and criticisms. Transparency is incredibly appreciated by people in the crypto space – it draws the line between a credible project and a project that is only full of hype but no substance.

Moreover, having a Telegram group enables teams to promptly respond to inquiries and feedback from their community. It is very useful to obtain technical feedback from the developer community on Telegram. Feedback to product features, roadmap suggestions, or discussions about the whitepaper are some examples of the things developers can contribute through the community.

Details of the New Layer-2 Network

The Open Network (TON) blockchain, in collaboration with Polygon, has introduced a groundbreaking initiative known as the TON Applications Chain (TAC). This new layer-2 network leverages Polygon’s advanced technology to expand TON’s capabilities significantly, focusing on enhancing the ecosystem’s liquidity, accelerating decentralized finance (DeFi) adoption, and enabling a variety of innovative applications.

Features and Benefits

TAC marks a significant evolution in the blockchain space by integrating Ethereum Virtual Machine (EVM) compatibility, which is crucial for developers who have previously built applications on Ethereum. This compatibility allows for an easy transition of decentralized applications to the TON ecosystem, thereby broadening the scope of potential applications. According to Pavel Altukhov, the founder of TAC, this strategic integration with Polygon’s ecosystem is driven by several key factors:

 Enhanced Liquidity Access: TAC facilitates easier access to liquidity within the TON ecosystem, boosting trading and investment opportunities.

 Accelerated DeFi Adoption: The integration of TAC is poised to speed up the adoption of DeFi applications on TON, capitalizing on Polygon’s proven technology stack.

 Innovative Applications: Beyond DeFi, TAC will pave the way for diverse applications such as gaming and decentralized identity solutions, expanding the utility of the open network blockchain.

The introduction of TAC is not just a technical upgrade but also a strategic move to position TON as a competitive player in the blockchain industry. With a focus on interoperability and scalability, TAC aims to address blockchain fragmentation and attract a broader user base.

Technical Specifications

The technical foundation of TAC is built on Polygon’s Chain Development Kit (CDK) and AggLayer. The CDK offers a customizable toolkit that enables developers to create their own layer-2 blockchains based on Polygon’s zero-knowledge technology. Meanwhile, AggLayer serves as an interoperability layer that addresses the challenges of blockchain fragmentation.

A key feature of TAC is its EVM compatibility, which simplifies the process for developers to port existing Ethereum-based applications to the TON ecosystem. This feature is crucial as it breaks down barriers to entry and makes TON accessible to a wider range of developers and users. Additionally, the use of Polygon’s technology ensures seamless availability of liquidity from EVM chains via AggLayer, comprehensive deployment support, and expertise in EVM, which are critical for the successful implementation and operation of TAC.

Implications for DeFi

The collaboration between TON and Polygon through the TON Applications Chain (TAC) is set to significantly influence the decentralized finance (DeFi) landscape. By leveraging Polygon’s robust technology stack and Ethereum Virtual Machine (EVM) compatibility, TAC is poised to facilitate a more seamless and expansive development of DeFi applications within the TON ecosystem.

Enhancing DeFi Adoption

TAC’s integration into the TON ecosystem aims to accelerate DeFi adoption by providing enhanced access to liquidity and reducing barriers for application development. According to Pavel Altukhov, the founder of TAC, the decision to build on the Polygon ecosystem was influenced by its EVM compatibility and the seamless availability of liquidity from EVM chains via AggLayer. This compatibility allows for an easy transition and scaling of DeFi applications previously developed on Ethereum, thus broadening the scope and utility of the TON network.

The strategic integration is expected to boost trading and investment opportunities within the TON ecosystem, thereby attracting more participants and fostering a more vibrant DeFi community. This move not only enhances the functionality of TON but also positions it as a formidable entity in the competitive blockchain space.

Real-world Use Cases

The implications of TAC extend beyond typical financial transactions and into innovative real-world applications. The EVM-compatible integration facilitated by Polygon allows Ethereum developers to access a vast user base on platforms like Telegram, enabling the implementation of more

practical crypto applications. Some of the potential real-world applications highlighted include gaming and decentralized identity solutions, which represent a significant expansion in the utility of the blockchain.

Furthermore, the integration is expected to draw substantial interest from developers keen on exploring new possibilities in DeFi and GameFi applications. By breaking down the technical barriers and simplifying the transition of applications to the TON network, TAC empowers developers to innovate and create solutions that address real-world needs.

Through these strategic and technical enhancements, TAC not only supports the growth of the DeFi sector within the TON ecosystem but also contributes to the broader adoption and acceptance of blockchain technology in various industries. This development marks a pivotal step in the evolution of blockchain applications, promising a future where digital finance and decentralized solutions play a central role in the global economic landscape.

Conclusion

The partnership between Polygon and TON, manifested through the creation of the TON Applications Chain (TAC), represents a significant milestone in the evolution of blockchain technology. By integrating Polygon’s innovative Layer-2 solutions with TON’s blockchain, this initiative is set to dramatically enhance transaction speeds, reduce costs, and broaden the scope of decentralized applications, thereby reinforcing the position of both networks at the forefront of the DeFi and broader cryptocurrency landscape. This strategic alliance not only exemplifies the power of collaboration in overcoming the technical limitations of individual blockchain networks but also highlights the pivotal role such partnerships play in accelerating the adoption and utility of digital currencies and blockchain technology across various sectors.

Author

John Smith
John Smith
John Smith, an Author and Content Creator
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