Toncoin mining has ended. A significant event occurred on Th | TON Community
Toncoin mining has ended.
A significant event occurred on The Open Network today: Miners mined the last Toncoin from the PoW Giver smart contracts, marking the end of the initial token distribution phase.
TON mining was the most critical step in the network’s development.
TON mining’s birthday is considered to be July 6, 2020. On that day, the Telegram team published a guide on the project’s site, and all the available tokens (98.55% of the total supply) were sent to special smart contracts, from which anyone could mine Toncoin over the past two years.
The Open Network project didn’t have an ICO, IEO, or other forms of initial token sales after issuance. Instead, Toncoin was available through mining, which helped disseminate the cryptocurrency to hundreds of thousands of users.
Now that the Toncoin mining era has ended, the only way to earn new coins is by staking TON, which is poised to become a prominent industry.
The amount of new Toncoin entering circulation will decrease by 200,000–250,000 coins per day, a 75% decrease.
The TON Foundation has published an article that describes in detail the history of TON mining, its vital role in the network’s decentralization, and the future development of the blockchain.
You can read the article here:
https://telegra.ph/Toncoin-mining-has-successfully-ended-06-17
