With more than 400 validators on the platform, the Free TON network claims that it is sufficiently decentralized to attain the mainnet status.
On Tuesday, December 22, the Free TON community announced that it has attained ‘sufficient decentralization’, thus, the community-driven project the mainnet status as a matter of consequence.
Free TON is a community-driven software evolution of Telegram’s ill-fated attempt at launching the TON blockchain network. The Free TON came into existence this year on May 7, 2020. Although the project thrives on Telegram’s codebase, it has no association with the major company. Also, it has nothing to do with the much controversial $1.7 billion ICO from Telegram.
The Free TON network developers conducted a live stream to announce to celebrate this occasion. Mitja Goroshevskiy, the CTO of TON Labs said that sufficient decentralization comes following the successful distribution of the tokens. However, the token distribution process is still ongoing. Moreover, the process is also mature enough to consider the Free TON network decentralized.
The Free TON community notes that it has more than 400 validators on the platform. Besides, it has 15 “fully formed geographical subgovernances,” the network’s own decentralized autonomous organization (DAO). So far, developers have made tangible contributions to the network via collaboration proposals, contests, etc. In the last six months, the network had had more than 20 collaboration proposals and over 100 contests.
During the recent live stream call, the validator Rust node has also been open-sourced. This helps in improving network performance, latency, throughput, and stability. Moreover, TON Labs has also released the latest SDK update. This helps to take the developer experience to a whole new level. Several new features are added which makes the SDK easy to use and readily accessible.
Free TON Project’s Technology Stack and Its Capacity to Keep the Mainnet Status
The TON whitepaper also outlines the project’s technology stack. This is expected to be highly scalable and adaptable for multiple different DApps. During the ceremony the CEO of TON Labs Cyril Paglino said:
“The TON Labs team is proud to be the core developer of the Free TON network, bringing new possibilities in the decentralized backend space due to the unique scalability and performance of Free TON.”
One of the representatives from the launching member noted:
“We are thrilled to achieve sufficient decentralization within 8 months of the initial launch. It reinforces the viability of the chosen governance model for this network, and the power of a quickly-growing, diverse community that is Free TON.”
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.