The Free TON community declares that it will achieve sufficient decentralization and mainnet status on December 22, 2020.
One of the most decentralized PoS networks in the world
Free TON was launched on May 7, 2020 as a real community-controlled, decentralized blockchain network.
No ICO. Not an entity. No funding. No token sale. CLAY crystals are distributed based on merit. Bring something, get something.
Concrete contributions to the network via competitions or proposals for cooperation as well as various use cases are used as triggers for the dissemination of tokens. To date, over 100 competitions have been held and more than 20 proposals for collaboration have been approved, which together will help drive the introduction of Free TON.
In the third quarter of 2020, consecutive validation competitions were held over a period of four weeks with the aim of isolating the top performing validators from around the world based on their performance under pressure. In the end, Free TON had just over 400 validators to make the network confident enough to declare adequate decentralization on December 22, 2020 at 12:00 UTC.
On the technical side, the Validator’s Rust node was open-source during the same live zoom call, adding another impressive component to an already big announcement. This step is designed to improve performance in terms of network speed, throughput and also latency compared to the original C ++ node, which in turn contributes to further improvement, performance and stability of the network.
Last but not least, TON Labs released the latest SDK update that takes the developer experience to the next level. Many features have been added, making the SDK more accessible and user-friendly.
Sufficient decentralization within 8 months of launch
The decentralized governance of Free TON is divided into more than 15 organically formed, geographically different and automatically functioning sub-governance groups (Think DAOs), with a new one being formed about every week. This encourages social scalability and task execution by groups of experts who, based on their professional background, come together to do what they do best, be it developing, writing smart contracts, creating apps, marketing, PR, design, etc. A “Rise Where you fit. “Approach that has produced impressive results. In return, the community is self-governing, with the best practices of the crème de la crème for implementation coming to the fore and the decentralization of governance and community advancing further (and better) with each new round in terms of scalability.
In addition, the Free TON community streamed live the generation of a special key block with the declaration of decentralization and its amendments, which were originally signed by the first starting members. In the future there will be new addenda that the original members will sign, but this time in the chain.
During the ceremony, TON Labs CEO Cyril Paglino said, “The TON Labs team is proud to be the core developer of the Free TON network and to offer new opportunities in the decentralized backend space due to the unique scalability and performance of Free TON open.” .
A representative from one of the launching members added, “We are excited to achieve sufficient decentralization within 8 months of the initial launch. It strengthens the viability of the chosen governance model for this network and the power of a fast growing, diverse community that is Free TON. “
This is a sponsored post. Find out how to reach our audience here. Read the following disclaimer.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or an invitation to make an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.