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The Open Community (TON) has introduced the launch of its new messaging function. This part will allow customers to share messages and transaction particulars privately on the blockchain.
The Open Community Introduces Encrypted Messaging Function
On Monday, July 3, the TON Basis introduced the introduction of an on-chain encrypted messaging function, which is able to allow safe communication between its community customers. This new function is an improve to the earlier messaging service offered by the platform.
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Certainly, customers have at all times been capable of ship messages – tagged to monetary transactions – to one another. Nevertheless, these messages had been unencrypted and fully open to the general public.
With the brand new function, customers will now be capable of transmit messages which can be encrypted end-to-end, accessible solely to the sender and recipient. This replace is predicted to introduce a recent layer of privateness to the blockchain.
In response to the community’s announcement, the encrypted messaging function is now out there on varied retail pockets apps, together with MyTonWallet and OpenMask. It additionally talked about that this function might be out there within the upcoming replace for TON cellular wallets and the Tonkeeper pockets.
The Open Community is a blockchain-based expertise initially created by the Telegram workforce – however accomplished by the TON Basis. The community’s developer claims that the decentralized blockchain gives higher scalability and transaction pace than its counterparts within the Web3 ecosystem.
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The brand new encrypted messaging function is without doubt one of the quite a few efforts being made by The Open Community to boost its expertise and ecosystem. In June 2023, the blockchain launched a burn deflationary mechanism, which incinerates 50% of the community charges with the intention to lower Toncoin’s circulating provide.
Toncoin is the native cryptocurrency of The Open Community. In response to CoinMarketCap, the coin at present trades at $1.39, with a buying and selling quantity of over $6.7 million. The token has a market cap of roughly $4.77 billion, making it the Sixteenth-largest cryptocurrency out there.
TONUSD buying and selling at $1.4014 | Supply: TONUSD chart from TradingView
In Might, the Basis introduced a $25 million accelerator program to encourage app builders to make use of the community. This was in a bid to rebuild the community and appeal to new Web3 builders and builders.
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It seems that these efforts are starting to yield optimistic outcomes. In response to its quarterly report, The Open Community noticed its complete accounts and transaction quantity rise to 2.88 million and 173 million, respectively, within the second quarter.
In the meantime, the Whole Worth Locked (TVL) on the community soared by 2,200% within the final quarter, due to the protocol’s liquidity mining rewards marketing campaign launched in Might.
Featured picture from Good Viewers, chart from TradingView
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