100 percent open source with no ICO or investors, the decentralized platform lays the foundations for 'WebFree,' enabling infinitely scalable blockchain solutions
TALLINN, Estonia, Sept. 17, 2021 /PRNewswire/ -- Free TON, a community-driven blockchain underpinning a free internet, has officially released the Free TON Whitepaper. The paper lays the foundations for 'WebFree', highlighting the platform's end-to-end decentralized architecture that enables a truly open internet, centred around security, trust, data ownership, censorship resistance and privacy.
Mitja Goroshevsky, Co-Founder and Chief Technology Officer at TON Labs, commented: "What our community is building is extraordinary. Free TON is scalable by design, with near instant finality made possible by a number of major consensus innovations which allows for seamless growth of the multithreaded blockchains. In fact, these breakthroughs make the processing of tens of millions of smart contract executions per second possible. We just reached a groundbreaking 45,000 transactions per second on the open Internet in a community-driven contest, running in dozens of datacenters around the world. We have demonstrated the only scalable blockchain architecture."
Free TON is the only end-to-end decentralized framework that renegotiates the implicit tradeoff between privacy and convenience in modern internet applications. Driven by its distributed global community, Free TON is dedicated to empowering communities to explore, build and develop decentralized applications without compromising personal autonomy in favour of usability. With no ICO or investors, Free TON is open source to its core and 100 percent focused on creating value by providing developers with a set of free software tools to build groundbreaking decentralized applications that feel and perform like centralized ones.
The network's native cryptocurrency, TON Crystal, is used not only as a store of value by the scarcity of its reserves, but also as a means to participate in all projects created directly as an outcome of the 'Meritocratic Token Distribution' (MTD) mechanism. Free TON has emerged as one of the largest social experiments in blockchain history - adopting automated governance protocols via means of its 'Soft Majority Voting' (SMV) and 'Byzantine Fault Tolerance Governance' (BFTG) systems.
The release of the whitepaper introduces the TON Operating System: A complete and vertically integrated technology stack built on top of a distributed virtual processor with a user-friendly interface.
-Consensus Innovations: SMFT (Soft Majority Fault Tolerance) consensus, MSRP (Masterchain Slashing and Recovery Protocol), and DDVS (Distributed Dynamic Validator Set).
-Multithreading: To overcome the limitations of traditional IT systems including processing capacity, bandwidth and disk space.
-Sharding: Allowing multiple work chains operating in parallel with 1,000 validators each (750 thousand servers) capable of processing up to 20M executions per second (taking into account the current internet backbone and server hardware capabilities).
-Security and complete decentralization: Deploys a security method known as 'Formal Verification' to attest every smart contract, while avoiding any residual code in a centralized Git repository, allowing for a completely decentralized experience.
Mitja Goroshevsky, concluded: "Our world-class and friendly ecosystem has established a community of over 3,000 developers, tens of thousands of members and dozens of partners - demonstrating that one doesn't need authority to grow a business or a society."
To download the Free TON Whitepaper and learn more about how Free TON is ushering in the WebFree era in a secure, decentralized and scalable manner, visit https://bit.ly/3hX7T8r.
About Free TON
Free TON is a community-driven blockchain cultivating an open and free internet.
Enabling true end-to-end decentralization with WebFree, Free TON is a secure and scalable platform modelled on the ideals of decentralization that features a per-merit token distribution model. As a built-for-purpose enterprise public blockchain, Free TON features multi-threading and sharding that enables record shattering transaction speeds and throughput.
Free TON's open-contest token distribution model enables the equitable completion of community proposals and initiatives, allowing contributing community members, over 30 open sub-governances or validators to obtain TON Crystal rewards based on meritocratic allocations.
Join us in building WebFree: Discover, Build, Use and Unite with Free TON.
For more information, visit https://freeton.org/.
About TON Labs
TON Labs is a distributed collective of experts in decentralized application development, actively building WebFree: a meritocratic decentralized web, focused on scalable blockchain infrastructure for global adoption.
Founded in May 2018, TON Labs is composed of experts in decentralization, including leading developers and creative technologists. As the core developer of Free TON, a blockchain that enables anyone to create and manage decentralized organizations, TON Labs is committed to optimizing the development of applications easily accessible to global communities and enterprises.
True end-to-end decentralization is enabled by the TON Operating System (OS), a technology stack that expedites blockchain development, and lives on the community-driven Free TON blockchain. With absolute trust and legitimate data ownership, developers are furnished with the tools to foster mass adoption of liberating and integrous tech.
For more information, visit https://tonlabs.io/.
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