The Open Network (TON), an independent layer-1 blockchain integrated with Telegram, has dramatically reduced block times to 400 milliseconds with its new Catchain 2.0 consensus upgrade. This enhancement allows payment transactions to settle in approximately 1 second and trades in real-time, bringing decentralized application speeds in line with traditional applications.
The upgrade is expected to increase TON's annual inflation rate to 3.6% from 0.6%, a move TON states will incentivize validators and strengthen the network. The Catchain 2.0 algorithm builds upon TON's existing consensus mechanism, promising near-instant settlement for a network used by over 1 billion individuals globally via Telegram.
TON's integration with Telegram facilitates direct crypto payments between users and businesses within the messaging app. Recent additions include self-custodial vaults for earning yield on Bitcoin, Tether, and Ether, as well as perpetual futures trading capabilities through the decentralized exchange Lighter.