With decentralized finance growing fast enough that mainstream financial companies are taking notice, it’s a good time to be able to offer an alternative to Ethereum.
The platform on which most of the DeFi business is built, Ethereum, is struggling under its weight. Compounded by the explosive growth of NFTs, Ethereum is proving too slow and far too expensive to handle DeFi as congestion drives the per-transaction gas price through the roof.
Which is why a project like Free TON that says it can offer not only faster and cheaper transactions but the room to grow without running into trouble is in a good place.
Free TON rose from the ashes of Telegram’s TON blockchain project after U.S. regulators forced the messaging app firm to walk away. That left Free TON developers with a very decentralized project — a state many competitors in DeFi space are working towards.
And with dynamic sharding technology that creates new shards — essentially mini-blockchains for specific smart contracts subdivided from the master blockchain — as needed, its developers say it can handle thousands of transactions per second, and has plenty of scalability to spare. It is, they say, the fastest decentralized protocol available.
And that’s before the Free TON stablecoin set for release this summer gives the blockchain the capacity to make even microtransactions affordable.
Faster, cheaper, stabler
A partner to the TON Crystal token, the Free TON stablecoin will be one of the most important additions in what developers say