- TON Blockchain Introduces TON Applications Chains A Layer-2 Network Using Polygon Technology.
TAC aims to enable TON with Ethereum Virtual Machine compatibility.
As an experienced blockchain analyst, I believe this latest development for the TON blockchain, specifically the introduction of TON Applications Chains (TAC) as a layer-2 network using Polygon technology, could be a game-changer for the ecosystem. The compatibility with Ethereum Virtual Machine (EVM) will allow developers to port over applications and build new ones, fostering innovation in DeFi and gaming sectors within the Telegram userbase.
As a crypto investor in Toncoin (TON), I’m excited about the ongoing advancements in its blockchain technology. The team is continuously exploring new methods and harnessing various technologies to ensure a strong competitive edge in the market.
In the latest initiative titled TON Applications Chains (TAC), a secondary network is being constructed for the TON infrastructure. This network will operate using Polygon as its power source.
Blockchain researcher Collin Brown shared the news on X (formerly Twitter),
“Great news for the TON Blockchain community! Introducing TON Applications Chain (TAC), a fresh layer-2 solution utilizing Polygon’s technology. Announced at EthCC, TAC is designed to boost TON by introducing Ethereum Virtual Machine compatibility. This upgrade will facilitate effortless app transfers and foster the growth of DeFi and gaming innovations within the TON ecosystem.”
The official announcement reveals that TAC (I’ll assume you mean this as an acronym or specific term) will have a unique ability to work seamlessly with the Ethereum Virtual Machine (EVM), which runs on the Ethereum blockchain operating system.
As a researcher studying the TAC layer-2 network, I recognize the significance of ensuring compatibility with Ethereum Virtual Machine (EVM) for several reasons. Primarily, this compatibility enables other developers within our ecosystem to seamlessly transfer upgrades to the network. This interoperability allows us to maintain a cohesive and progressive technological environment.
What EVM brings to the TON ecosystem
Significantly, TAC (TON Advanced Contracts) brings Ethereum Virtual Machine (EVM) applications onto the TON platform, empowering Ethereum developers to create sophisticated software solutions for Telegram’s user base.
As a analyst, I would express it this way: With advanced EVM support technology, we guarantee interoperability and scalability – two essential features that will draw in numerous developers.
The Telegram Open Network (TON) will significantly contribute to the decentralization of applications on the Telegram platform in a similar fashion. Additionally, TAC (Telegram Open Finance) is expected to facilitate the creation of Decentralized Finance (DeFi) apps within the Toncoin ecosystem.
Why it matters
The project is significant because it will use Chain Development Kit (CDK), which allows various developers to build their layer-2 blockchain. CDK will be developed on Polygon’s AggyLayer, which will help solve blockchain fragmentation.
Polygon Aggregated shared on their official X page, that,
“The TON Applications Chain (TAC) is developing a zk-enabled layer 2 solution in collaboration with Polygon CDK. This connection will link up to the AggLayer, thereby facilitating smooth interaction and a unified liquidity structure for the TON blockchain ecosystem.”
Will TAC have any impact on price charts?
As of the moment this article is being published, TON was priced at $7.36 following a 7.08% drop over the past week. Yet, there has been a modest increase of 0.39% in its value on a daily basis.
Based on AMBCrypto’s assessment, TON has entered a consolidation period and is predicted to turn bullish. At present, the Exponential Moving Average (EMA) for Toncoin stands at $7.36, matching its current price. This indicates a market in equilibrium where prices trend horizontally.
The current price behavior suggests that neither sellers nor buyers hold a clear advantage. In other words, the market is in a stalemate. However, should the prices keep climbing beyond the Exponential Moving Average (EMA), the market trend will shift towards bullishness.
With a RSI of 49, the market shows signs of balance as buying and selling forces evenly counteract each other, indicating an equilibrium state.
Read Toncoin (TON) Price prediction 2024-25
This further proves the market is in the consolidation phase.
Should the altcoin prices persist in approaching their Exponential Moving Averages (EMAs) and surpassing them, Toncoin’s price will ascend to the subsequent resistance level at $7.64. Conversely, if selling pressure prevails, the price will descend to $7.05.
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2024-07-10 20:40