Ton coin seems to be on for a good week amid new developments at the Ton network. Ton currently facing great resistance at the $2.3 level. This comes as the asset recorded a 10% increase within seven days ranking it 25th on CoinMarketCap charts as of presstime.
The coin had also registered a mild increase in valuation of close to 1% within a 24-hour period as of press time.
Why the recent surge?
The Ton network has been having a significant amount of developments this week that have contributed to this surge.
Hong Kong-based cryptocurrency exchange Bitfinex has announced the listing of Ton (TON) on its platform. Ton is the native token of the Telegram Open Network blockchain, which was initially developed by the messaging app Telegram before being cancelled due to regulatory issues.
In addition to this, on April 5th, 2023, Orbs Network, a platform for decentralized applications, launched a new smart contract called Single Nominator on the Ton blockchain. The smart contract enables secure validation for the Ton blockchain via an air-gapped cold wallet.
The new smart contract is an important step forward for Ton’s development and will provide greater security for its users. The Single Nominator contract is designed to ensure that only validated nodes can participate in the Ton blockchain, reducing the risk of attacks and hacks.
Furthermore, the air-gapped cold wallet feature adds an extra layer of security by isolating the private keys from the internet, preventing them from being accessed by hackers. With these new developments, the Ton blockchain is poised to become a more secure and reliable platform for decentralized applications.
In conclusion, the listing of Ton on Bitfinex and the launch of the Single Nominator smart contract on the Ton blockchain are positive developments for the cryptocurrency’s future. With greater security and validation capabilities, Ton is well-positioned to continue its growth and adoption in the ever-expanding world of decentralized finance.
