TON crypto now supported by Trust Wallet
TON crypto now supported by Trust Wallet
Crypto

TON crypto now supported by Trust Wallet

By Andrea Porcelli - 4 May 2023

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The TON Foundation has announced that Toncoin (TON), TON’s native crypto, is now supported by the non-custodial Trust Wallet.

Trust Wallet is a multi-chain cryptocurrency wallet that has gained significant popularity since its launch in 2017. 

It has become one of the largest non-custodial wallets in the world, with more than 60 million downloads worldwide. 

Trust Wallet users will now be able to hold, receive and send TONs, marking a significant achievement for the TON ecosystem.

The integration of TON crypto into Trust Wallet

The addition of TON to Trust Wallet marks a significant step in the development of blockchain and TON crypto. The TON Foundation is a non-profit association of developers and enthusiasts dedicated to advancing The Open Network

The TON blockchain is a decentralised platform that aims to provide a scalable and secure infrastructure for decentralised applications (dApps) and smart contracts.

The project was developed by Telegram, the popular messaging app, which intended to use the platform to launch its own cryptocurrency, Gram. 

However, the project was halted after a legal dispute with the U.S. Securities and Exchange Commission (SEC), which claimed that Gram tokens were unregistered securities. 

The dispute resulted in the cancellation of the project and the return of funds to investors.

Despite the setback, the TON Foundation has continued to advance the TON blockchain, which has gained significant traction in the cryptocurrency industry.

TON is now supported by multiple exchanges and wallets, including Bithumb Global, Hotbit, and now Trust Wallet.

A focus on Trust Wallet and the new integration

Trust Wallet is a self-currency wallet that allows users to securely store their cryptocurrencies on their devices. The wallet supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Binance Coin and many others. 

Trust Wallet users can also connect to decentralised exchanges (DEX) to exchange cryptocurrencies directly from their wallet.

The addition of TONs to Trust Wallet means that users can now store their TONs securely and conveniently. Self-custodial wallets are particularly attractive to cryptocurrency users because they allow users to have full control over their funds. 

This means that users are not dependent on third-party custodians to store their cryptocurrency, which can be subject to hacks and other security breaches.

The TON blockchain has several features that make it an attractive platform for both developers and users. 

One of the most important features is high throughput, which allows the platform to handle a large number of transactions per second (TPS). 

This is achieved by using a unique consensus mechanism called the Byzantine Fault Tolerance (BFT) consensus algorithm.

The BFT consensus algorithm is a type of consensus mechanism that ensures that all nodes in the network agree on the same set of transactions. This is achieved through a process of communication and validation among the nodes.

The BFT consensus algorithm is particularly suitable for high-speed applications, as it allows the network to reach consensus quickly and efficiently.

Another key feature of the TON blockchain is its support for smart contracts. Smart contracts are self-executing contracts that are programmed to execute automatically when certain conditions are met. 

They are particularly useful for applications that require a high degree of automation, and can be used to build decentralised applications (dApps) on the TON blockchain.

The addition of TON to the Trust Wallet is a very important step for the TON ecosystem. It is a testament to the hard work and dedication of the Foundation, which has continued to move the blockchain forward despite the setbacks it has faced. 

The support of Trust Wallet will undoubtedly increase the adoption of TON and help solidify its position as a leading cryptocurrency.

Trust Wallet is a versatile platform that provides users with access to a range of decentralised services.

For instance, users can access decentralised exchanges (DEX) directly from their wallet, allowing them to securely trade cryptocurrencies without the need for an intermediary. 

Trust Wallet also provides users with access to decentralised applications (dApps) built on a variety of blockchain platforms.

Statements from both sides

Anthony Tsivarev, Director of Developer Relations at the TON Foundation, said:

“We are delighted that Trust Wallet has added Toncoin to the roster of digital tokens on its renowned self-custodial wallet. Toncoin is being accepted by the pillars of the digital token space with the status of a leading cryptocurrency”.

Eric Chang, Head of Product at Trust Wallet, said:

“Super excited to be one of the first major wallets to integrate Toncoin, the native cryptocurrency of TON, a revolutionary technology to unite all blockchains and Web2 internet into one open network. Trust Wallet remains dedicated to innovation and accessibility and are looking forward to helping this blockchain grow to accommodate millions of users”.

In conclusion, the addition of TON to Trust Wallet is a significant milestone for the TON ecosystem. 

It will increase the accessibility of TON to a wider audience and make it easier for users to securely store, receive and send TON. 

The TON blockchain has several unique features that make it an attractive platform for developers, and the addition of TON to the Trust Wallet will make it easier for developers to build and deploy dApps on the platform. 

The TON Foundation continues to work on improving the platform, and we can expect to see many more exciting developments in the future.

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