With decentralized financing growing fast enough, and ordinary financing companies taking notice, it’s time to come up with an alternative to Ethereum.
The platform on which much of Defi’s business is based, Ethereum, is struggling with its own weight. Compared to the explosive growth of NFTs, Ethereum has proven to be too slow and too expensive to make transactions with DeFi, as the gas price per transaction rises sharply due to congestion.
This is why a project like Free TON says that it can not only offer faster and cheaper transactions, but also room to grow without creating problems.
Free TON emerged from the ashes of the Telegram TON blockchain project after US regulators rejected the messaging app company. This left the Free TON developers a very decentralized project – a business that many competitors in the DeFi room are working on.
And thanks to dynamic hashing technology that creates new inserts – actually a small chain of defined smart contracts, disconnected from the main blockchain – if necessary, the developers claim that it can process thousands of transactions per second and has sufficient scalability. They say it is the fastest decentralized protocol available.
And that was before the stable release of Free TON was released this summer, giving blockchain the opportunity to make microtransactions cheaper.
Faster, cheaper and more stable
As a partner for the TON Crystal token, the stable Free TON will be one of the most important additions to what the developers say is a very important summer for the protocol.
Stablecoin, 100% supported by blocked ether, will give liquidity providers a solid profit opportunity.
More importantly, stablecoin represents a “true deployment of a Layer 2 solution” that can solve the cost and speed issues that need to be addressed, which is important for DeFi to “successfully develop into the egalitarian economic model it was intended to” be “. to the application. For TON Labs, the main developer of the Free TON project.
According to the developers, as costs are further reduced and the new stablecoin is accelerated significantly, very small payments are possible, which opens up large utility cases for microtransactions such as payments, royalties and online games. It also opens up the possibility of handling duplicate subscriptions.