Plans to Reduce Fees in TON Blockchain Revealed

Developers of The Open Network (TON) blockchain are planning to reduce transaction costs for users and allow fees to be paid directly in Tether’s stablecoin, USDT, in a new contract. This was reported by the Telegram channel DeCenter.

This information has not been published in TON’s official channels. However, the project’s roadmap announces the addition of payment channels, which will enable two participants to conduct unlimited instant micropayments without fees. Charges will only apply for the creation and closure of the channel.

On April 16, a post appeared in the TON developers’ chat dedicated to reducing transaction costs.

In a comment to ForkLog, the project’s press service stated that all details will be announced at the Token2049 conference in Dubai. At the event, Pavel Durov will present “the first real and valuable use case of TON, which will be available to all 900 million active Telegram users.”

Making crypto — actually — useful! ?

What will @durov, CEO & Founder of @telegram, unveil at #token2049dubai this Friday? ?

Get ready for crypto’s first real-world, really valuable use case. Available to all 900M monthly active Telegram users.

We’re on the brink of something… pic.twitter.com/bIkNncZGtG

— TON ? (@ton_blockchain) April 15, 2024

Joining his presentation will be Tether’s head, Paolo Ardoino. According to available information, the discussion will focus on the integration of USDT into the TON blockchain.

Ardoino previously announced the launch of a platform for asset tokenization. It will support multiple blockchains and asset types (from stocks and bonds to loyalty program points).

GM

Tether’s tokenisation platform will soon be available to everyone.
A masterpiece.
Fully non custodial.
Multi chain.
Multi asset type.
Super customizable.

+T

— Paolo Ardoino ? (@paoloardoino) April 14, 2024

At the time of writing, TON ranks as the ninth-largest asset by market capitalization, valued at $21.5 billion, according to CoinMarketCap.

Earlier, TON developers unveiled their roadmap for 2024. It includes the implementation of gas-free transactions, the update of Wallet 5.0, and the development of a new cross-chain technology called Teleport. The team also announced plans for expansion into the Asian market.