Free TON achieves mainnet status after reaching ‘sufficient decentralization’

The Free TON project, a community-led software fork of Telegrams ultimately ill-fated attempt at launching a blockchain, announced on Tuesday the launch of the tasks reliable mainnet.The network had originally released in May 2020, building on Telegrams code base however otherwise revealing no association with the communications company and associated $1.7 billion preliminary coin offering.Tuesdays mainnet announcement is mainly a formality, as it does not include brand-new network launches. Rather, the designers have selected the date to mark “adequate decentralization” of the network and an efficient mainnet start. A livestream ceremony was held to celebrate the occasion, including a “Declaration of decentralization” in the blockchain that can be signed by anyone.The community boasts more than 400 validators and 15 “totally formed geographical subgovernances,” the projects equivalent of a decentralized autonomous company, or DAO. Mitja Goroshevskiy, the chief innovation officer of TON Labs, said that “enough decentralization” is also specified by the number of tokens dispersed. Though this has not been totally achieved as numerous tokens remain to be distributed, the procedure is now mature sufficient to think about the network decentralized.Free TON did not hold token sales, choosing rather to distribute tokens in exchange for little contributions to the network, in a comparable way to an airdrop. Throughout 2020, the job dispersed TON Crystal tokens in more than a hundred contests and cooperation initiatives.The group also open-sourced a brand-new node customer composed in Rust, which the team claims has greater efficiency and lower latency than the older client composed in C++. Goroshevskiy stated this client was decreased on purpose to work with existing nodes, but it is not totally prepared for mainnet yet.The Telegram Open Network white paper outlined the tasks innovation stack, which is expected to be adaptable and highly scalable for a variety of DApps. Telegram saw its greatest competitive benefit as the combination with Telegrams existing app, which already boasts millions of users. Though Free TON clearly will not have the same advantage, it is still promoting producing a big neighborhood of developers and users.Free TON is the very first of several TON forks that emerged after Telegram formally closed down its blockchain project in July after losing its lawsuits with the SEC.Title: Free TON achieves mainnet status after reaching enough decentralization Sourced From: cointelegraph.com/news/free-ton-achieves-mainnet-status-after-reaching-sufficient-decentralizationPublished Date: Tue, 22 Dec 2020 12:18:02 +0000

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