Telegram, an encrypted, cloud-based instant messaging service, plans to launch the Telegram Open Network (TON) and its native cryptocurrency, the GRAM, a Proof of Stake cryptocurrency. The Telegram Open Network is being designed to host a new generation of cryptocurrencies and decentralized applications. It is a fast, flexible and inherently scalable multi-blockchain architecture that consists of a masterchain and accompanying blockchains (workchains). Broadly speaking, TON can be regarded as a new decentralized supercomputer and value transfer system.
By combining minimum transaction time with security and scalability, TON aims to become a VISA/Mastercard alternative for the decentralized economy, with an already established a massive user base to help kickstart the project. TON features innovative features such as their Infinite Sharding Paradigm and Instant Hypercube Routing
At the core of the platform is the TON Blockchain (masterchain) and its associated blockchains (workchains). Additionally, the built-in sharding mechanism found in TON, further divides these workchains into shardchains. Mainly, what allows the TON Blockchain to securely process millions of transactions per second is the infinite sharding paradigm and the Instant Hypercube Routing mechanisms.
The Infinite sharding paradigm sees TON’s blockchains divided into shardchains in which each block consists of a collection of the state and state transitions of several accounts and smart contracts. This means that users can keep parts (shards) of a specific blockchain and still interact with them, lifting the load of regular nodes, and allowing for growth while still maintaining decentralization.
While the Infinite sharding paradigm allows TON’s workchains to be divided into shardchains, the Instant Hypercube Routing allows these chains to communicate updates in account or smart contract states, ensuring that an action by an account can affect other accounts in different shardchains.