Toncoin (TON), the native cryptocurrency of The Open Network, a layer-1 blockchain protocol, currently leads in transaction finality. According to the result from a recent test, it takes 0.6 seconds for transactions to become immutable and irreversible using Toncoin compared to Bitcoin, with a Time to Finality (TTF) of 1 hour.
For context, TON’s 0.6-second finality includes the wait time until the next masterchain block and the confirmation of the masterchain block. This transaction speed places Toncoin 12 places ahead of Bitcoin, the pioneer cryptocurrency, and the largest of the set in market capitalization.
Other solutions leading Bitcoin in finality include Avalanche, with a finality of approximately 1 second, BNB Smart Chain with a 1.125-second finality, and SUI, which boasts 1.5-second transaction finality.
Hedera’s 2.5-second finality positions it among the top 5 fastest layer-1 blockchain platforms, while XRP Ledger claims the 6th spot with a 4-second finality. Other blockchains, such as Stellar, Solana, TRON, and Ethereum, make up the top 10 category, with 5 seconds, 13 seconds, 1 minute, and 13 minutes finality, respectively.
The remaining two blockchain protocols leading Bitcoin in transaction finality include Litecoin and Monero, with 15 minutes and 20 minutes finality, respectively, while Bitcoin maintains a 1-hour finality, as earlier stated.
(adsbygoogle = window.adsbygoogle || []).push({});Toncoin’s impressive speed has boosted its appeal among blockchain and cryptocurrency users. Analysts believe the project’s focus on performance and real user experience is fundamental to its long-term sustainability and adoption.
It is worth noting that TON is the exclusive currency for in-app payments in the Telegram ecosystem. It is used for purchasing Telegram Ads, Telegram Premium subscriptions, and unique usernames or anonymous phone numbers on the Fragment platform. The cryptocurrency also powers the “tap-to-earn” gaming economy and serves as the backend for Telegram Stars, an in-app currency for tipping creators and buying digital goods.
Toncoin was created by Telegram founders Pavel and Nikolai Durov as the Telegram Open Network (TON). The project, rebranded as The Open Network after a legal battle with the SEC over its registration status, grew independent of the Telegram network before being reintegrated on the app in 2024.
