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. Nevertheless, these messages have been unencrypted and utterly 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 accordance with the community’s announcement, the encrypted messaging characteristic is now obtainable on varied retail pockets apps, together with MyTonWallet and OpenMask. It additionally talked about that this characteristic might be obtainable within the upcoming replace for TON cellular wallets and the Tonkeeper pockets.
The Open Community is a blockchain-based know-how initially created by the Telegram crew – however accomplished by the TON Basis. The community’s developer claims that the decentralized blockchain gives higher scalability and transaction pace than its counterparts within the Web3 ecosystem.
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The brand new encrypted messaging characteristic is without doubt one of the quite a few efforts being made by The Open Community to boost its know-how and ecosystem. In June 2023, the blockchain introduced a burn deflationary mechanism, which incinerates 50% of the community charges to be able to lower Toncoin’s circulating provide.
Toncoin is the native cryptocurrency of The Open Community. In accordance with CoinMarketCap, the coin presently 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 out there.
TONUSD buying and selling at $1.4014 | Supply: TONUSD chart from TradingView
In Could, 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 appeal to new Web3 builders and builders.
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It seems that these efforts are starting to yield constructive outcomes. In accordance with 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 Could.
Featured picture from Good Viewers, chart from TradingView