Development firm TON Labs enlisted the help of community developers and professional validators to launch a new version of the TON blockchain earlier today without participation from Telegram. The announcement comes one week after Telegram once again postponed the release of the original TON platform in response to the regulatory hurdles it faced in the U.S.
The new chain, called Free TON, is a fork of its predecessor and, therefore, features many of the same designs like sharing and a Proof-of-Stake (PoS) consensus mechanism. But the founding developers named its native token “ton crystals” to distinguish them from GRAMs. According to CoinDesk, thirteen validators backed by fifteen entities support the current version Free TON, which will serve as the network’s first phase as it looks to decentralize in progressive stages.
Why it matters: