Bitcoin, introduced in 2014, was a revolutionary digital currency solution. However, it had a critical limitation: its transaction capacity was significantly inferior to that of established centralized payment systems like Visa, Mastercard, Alipay, and WeChat Pay. While Bitcoin’s blockchain could process only about seven transactions per second (tps), traditional payment systems could handle over 6,000 tps.

In the years that followed, Ethereum gradually emerged and by 2015-2016, it increased transaction capacity to 15 tps. Ethereum also introduced more advanced smart contract technology than Bitcoin, driving the diversification of tokens and ushering in the era of Initial Coin Offerings (ICOs). This innovation was the catalyst for the subsequent rise of Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs). NFTs further evolved to serve as digital name systems (DNS) and are poised to become the foundation for future Digital Identities (DIDs).

In 2018, Telegram spearheaded the ICO wave, designing a cutting-edge blockchain structure known as the TON network. With a high-speed sharding system, smart contracts, and a Proof-of-Stake (PoS) architecture, it aimed to maximize blockchain’s tps. Despite facing numerous legal challenges from 2018 to 2020, by 2024, the TON blockchain had proven capable of processing up to 100,000 transactions per second, making it possible to surpass traditional payment systems.

While Bitcoin and Ethereum might not become widely usable payment systems due to their transaction limitations, the TON blockchain, capable of 100,000 tps and combined with Telegram’s 1.4 billion registered users, will likely set the standard for the next generation. Together, Telegram and TON have the potential to become the ultimate global super app, transcending beyond just messaging and payments to encompass all facets of our next-generation digital lives.

The journey of blockchain technology has seen tremendous advancements since the inception of Bitcoin. From the introduction of Ethereum’s smart contracts to the high-speed capabilities of the TON network, blockchain has continued to evolve to meet the demands of a digital future. With its unprecedented transaction throughput and integration with the popular Telegram platform, the TON network stands ready to define the future of digital finance and communication.