The decentralized blockchain has added 105 independent auditors to the mainnet, with hundreds more coming next month.
By the end of the year, Free TON will have over 440 auditors participating, making it one of the largest and most scalable stake network testimonials the industry has to offer.
Free TON’s goal is to achieve “true decentralization”. Currently, the multithreaded blockchain architecture achieves an average blocking time of just 0.2 seconds, which is much faster than what competitors are currently offering.
With 440 auditors and a 0.2 second blocking time, Free TON members shared numbers showing how it compares to its competitors:
Polkadot: 239 pieces, blocking time six seconds
Space: 262 pieces, block time seven seconds
Solana: 383 pieces, blocking time 0.4 seconds
Proximity: 152 pieces, blocking time 1 second
The auditors’ investments are added to officially confirmed dePool smart contracts, where they will be locked for two years before returning to the management pool. According to members of the Free TON community, no one has the keys to these contracts, making it impossible to steal or tamper with the overall balance.
TON Labs told Cointelegraph that these DePools will be run by independent validators from around the world, adding that their community-led network will be a refreshing addition to the proof that centralized Stakes services dominate the spelling market.
The auditor added that they are enthusiastic about the network’s plans to achieve scalability in the decentralized financial market. Future plans include integration with secure messaging, social networking, the Internet of Things and new online business models.
Dive into DePools
One of the main goals of Free TON is to reduce entry barriers to participating in proof in stake networks. To become an Ethereum 2.0 auditor, interested parties must participate in 32 ETH – an initial amount of over $ 19,100 at the time of writing. Few of us have that kind of money, and many cryptocurrency enthusiasts have smaller amounts they are willing to hold onto.
Auditors can configure many of the DePool settings, but once deployed, these smart contracts cannot be changed.
Read more about Free TON here
The main difference between Free TON and other evidence regarding betting networks is how users can withdraw their money at any time. Even when funds are raised in DePool, users will still be able to use tokens to vote on management decisions. This is a violation of other blockchains as the vote is completed by auditors.
Dramatic Free TON Wallpaper
As reported by Cointelegraph, Free TON was launched by an independent group of software developers, auditors and users back in May. The blockchain is maintained and validated by a network of non-hierarchical participants who work with the principles of the Declaration of Decentralization.
While other decentralized networks focus on grants to distribute tokens to the community, Free TON plans to run contests instead. It is hoped that this approach will provide greater transparency and remove distortions in the process – and as a result, contribute to a culture of profit.
Although Free TON uses a system architecture originally developed by Telegram co-founder Nikolai Durov before the messaging app left the project, it is a completely different network with its original currency.
Sheriff Sacr, the first member of the Free TON community, wrote in a recent statement that the concept of decentralization does not enjoy the respect it deserves, arguing that many of the larger blockchain projects are much more centralized than they seem.