Free TON Community Achieves Sufficient Decentralization With the Network Becoming a Defacto Mainnet
The Free TON community declares achieving sufficient decentralization and mainnet status as a consequence on December 22, 2020.
One of the Most Decentralized PoS Networks in the World
No ICO. No entity. No funding. No token sale. TON Crystals are distributed on the basis of merit. Bring something, get something.
Tangible contributions to the network via contests or collaboration proposals, coupled with diverse use cases, are used as token dissemination triggers. To date, over 100 contests have been realized and more than 20 collaboration proposals have been approved, which together are helping to drive adoption of Free TON.
Consecutive validator contests were held over the course of 4 weeks in Q3, 2020, with the goal of isolating the most capable validators from around the world on the basis of performance-under-pressure. In the end, Free TON ended up with just over 400 validators to make the network confident enough to declare sufficient decentralization on December 22, 2020 at 12:00 PM UTC.
On the tech side of things, the validator Rust node was open-sourced during the same live Zoom call, adding yet another impressive component to an already big announcement. This move was designed to increase performance with respect to network speed, throughput, and also latency as compared to the original C++ node, in turn contributing to further network improvement, performance and stability.
Last, but certainly not least, TON Labs released their latest SDK update, bringing the developer experience to yet another level. Many features were added, making the SDK more readily accessible and easy to use.
Sufficient Decentralization Within 8 Month After Launch
The decentralized governance of Free TON is partitioned through more than 15 organically formed, geographically diverse, and auto-functioning sub-governance groups (think DAOs), with a new one being formed just about weekly. This drives social scalability and task execution through groups of experts who come together based on their professional background to do what they know how to do best, be it development, writing smart contracts, creating apps, marketing, PR, design, etc. A “get in where you fit in” approach that has rendered impressive results. In turn, the community is self-governed with the crème de la crème best practices floating to the top for implementation, driving further (and better) decentralization of governance and community with each new turn, vis-a-vis scalabilty.
Additionally, the Free TON community live-streamed the generation of a special key block containing the Declaration of Decentralization and its addendums, which were originally signed by the first launch members. Moving forward, there will be new addendums that original members will sign, only this time on-chain.
During the ceremony the CEO of TON Labs, Cyril Paglino said, “The TON Labs team is proud to be the core developer of the Free TON network, bringing new possibilities in the decentralized backend space due to the unique scalability and performance of Free TON”.
A representative from one of the launching members added, “We are thrilled to achieve sufficient decentralization within 8 months of the initial launch. It reinforces the viability of the chosen governance model for this network, and the power of a quickly-growing, diverse community that is Free TON.”
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
The post Free TON Community Achieves Sufficient Decentralization With the Network Becoming a Defacto Mainnet appeared first on BitcoinLinux.