The Open Community (TON) has introduced the launch of its new messaging characteristic. This element will allow customers to share messages and transaction particulars privately on the blockchain.
The Open Community Introduces Encrypted Messaging Characteristic
On Monday, July 3, the TON Basis introduced the introduction of an on-chain encrypted messaging characteristic, which is able to allow safe communication between its community customers. This new characteristic is an improve to the earlier messaging service offered by the platform.
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Certainly, customers have at all times been capable of ship messages – tagged to monetary transactions – to one another. Nonetheless, these messages have been unencrypted and fully open to the general public.
With the brand new characteristic, customers will now be capable to transmit messages which are encrypted end-to-end, accessible solely to the sender and recipient. This replace is predicted to introduce a recent layer of privateness to the blockchain.
In response to the community’s announcement, the encrypted messaging characteristic is now obtainable on numerous retail pockets apps, together with MyTonWallet and OpenMask. It additionally talked about that this characteristic will likely be obtainable within the upcoming replace for TON cell wallets and the Tonkeeper pockets.
The Open Community is a blockchain-based know-how initially created by the Telegram group – however accomplished by the TON Basis. The community’s developer claims that the decentralized blockchain presents higher scalability and transaction velocity than its counterparts within the Web3 ecosystem.
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The brand new encrypted messaging characteristic is among the quite a few efforts being made by The Open Community to reinforce its know-how and ecosystem. In June 2023, the blockchain launched a burn deflationary mechanism, which incinerates 50% of the community charges so as to lower Toncoin’s circulating provide.
Toncoin is the native cryptocurrency of The Open Community. In response to CoinMarketCap, the coin at present trades at $1.39, with a buying and selling quantity of over $6.7 million. The token has a market cap of roughly $4.77 billion, making it the Sixteenth-largest cryptocurrency available in the market.
TONUSD buying and selling at $1.4014 | Supply: TONUSD chart from TradingView
In Might, the Basis announced a $25 million accelerator program to encourage app builders to make use of the community. This was in a bid to rebuild the community and entice new Web3 builders and builders.
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It seems that these efforts are starting to yield optimistic outcomes. In response to its quarterly report, The Open Community noticed its whole accounts and transaction quantity rise to 2.88 million and 173 million, respectively, within the second quarter.
In the meantime, the Whole Worth Locked (TVL) on the community soared by 2,200% within the final quarter, due to the protocol’s liquidity mining rewards marketing campaign launched in Might.
Featured picture from Good Viewers, chart from TradingView
