coincodex.com
Key takeaways:
- TONNEL Network has launched on the $TON blockchain mainnet to provide on-chain privacy through Zero-Knowledge proofs. This leverages $TON Virtual Machine updates for secure computations.
- Key features include private transfers of $TON and $TONNEL tokens and a ZkNFT standard for confidential $NFT activities.
- TONNEL is distributing 100,000 $TONNEL tokens via an airdrop campaign to drive the adoption and growth of the privacy protocol.
- Our price prediction algorithm forecasts the Toncoin ($TON) price to increase by 4.23% and reach $2.50 next month.
$TON Blockchain has welcomed a new privacy protocol called TONNEL Network on its mainnet, with the aim of providing on-chain privacy for users through Zero-Knowledge proof technology.
? @tonnel_network has launched on $TON Mainnet, introducing a Zero-Knowledge privacy protocol to enhance on-chain privacy for #$TON users.
— $TON ? (@ton_blockchain) January 15, 2024
Join the celebration with TONNEL's Mainnet airdrop campaign and get a chance to win 100K $TONNEL. Details: https://t.co/EE6UwEqGrx pic.twitter.com/ftttzpTRPG
TONNEL Network utilizes the latest $TON Virtual Machine (TVM) update that enables complex computations and proof verification on smart contracts. This allows TONNEL to implement the Zero-Knowledge proofs that validate transactions without exposing sensitive information.
Key features of the TONNEL Network include:
- Private transactions for Toncoin ($TON) and $TONNEL tokens. More jettons will be supported in the future.
- A ZkNFT standard for confidential $NFT minting, ownership transfer, and burning. TONNEL has already deployed the first private $NFT collection on $TON using this technology.
To celebrate its launch on the $TON Mainnet, TONNEL Network is inviting the community to join its airdrop campaign, where it will distribute 100,000 $TONNEL tokens to lucky participants. Individuals can participate in this airdrop campaign by joining the TONNEL Network Telegram channel.
Read More: 8 Best Airdrop Sites for Free Crypto Airdrops
TONNEL Network is one of the first to utilize zero-knowledge proofs on the high-throughput $TON Blockchain.
Moreover, Zero-Knowledge proofs enable parties to validate information without exposing the underlying data. For example, someone could prove ownership of a ZkNFT without revealing their wallet or the $NFT's metadata. TONNEL uses efficient ZK-SNARK proofs suited for blockchain transactions.
By enhancing privacy, the network could attract more users and decentralized apps to the $TON ecosystem.
Toncoin ($TON) recent price movement
According to the CoinCodex price chart, the price of Toncoin ($TON) has fluctuated in the past month, reaching a high of $2.42 on Dec 4, 2023, and a low of $2.11 on Jan 6, 2024.
As of today, Jan 17, 2024, the price of the token is $2.35, which is a 2.2% decline compared to its $2.45 price in the last 24 hours. It also holds a market cap of $8.12 billion, and the market dominance is over 0.48%.
According to our forecast, the price of Toncoin is expected to continue dropping in the short term – it could lose another 3.26% and reach $2.32 by Jan 22, 2024.
However, in the next month, the price of Toncoin is predicted to rise by 4.23% and reach $2.50 by Feb 16, 2024. The long-term prediction for Toncoin is more optimistic, as we estimate that the price of Toncoin could reach as high as $3.06 by the end of 2025.