Jettons in TON: Definition, Methods, and Examples

Blockchain The Open Network (TON), originally created by the Telegram team, is a high-performance platform for processing large volumes of transactions and complex applications. TON aims to form a decentralized ecosystem that supports a variety of services, from financial applications and decentralized data storage to distributed DNS systems.

Jettons are digital assets that function on the TON network and are similar in concept to ERC-20 tokens on the Ethereum blockchain. They can be used in a variety of ways, from creating digital currencies to granting access rights in decentralized applications.

Source: Pandatool.org

What is the Jetton standard for tokens on the TON network?

Jetton tokens are interchangeable, which means that each token is completely equal in value and can be exchanged for another token of the same type without losing value or functionality. This is similar to how conventional currencies or ERC-20 tokens on the Ethereum network work, where any token in a series is completely equal to another.

Jetton vs. ERC-20 Tokens:

1. Jetton tokens: These tokens operate on the TON blockchain and use smart contracts to manage each token individually. They are created with TON's features in mind, including sharding and asynchronous message delivery, which provides flexibility and high performance.

2. ERC-20 tokens: This standard is used on the Ethereum blockchain, where all token balance operations are controlled by a single smart contract. ERC-20 tokens are widely used and supported by many decentralized applications and services.

How do Jetton tokens work?

Jetton tokens are a convenient and functional tool for issuing and managing digital assets on the TON blockchain. They expand the capabilities of the TON ecosystem, making it more adaptable and efficient for both developers and end users.

Let's take a look at the key technical characteristics of Jetton tokens on the TON network:

1. Jetton Master Smart Contracts. These contracts are responsible for storing and managing key information about the token, including its total supply, metadata, and administrative settings. They ensure compliance with all standards and rules for Jetton tokens, creating a reliable platform for secure interaction and token operations.

2. Jetton Wallet Smart Contracts. These contracts are responsible for managing personal balances and conducting user transactions. Each user balance is stored in a separate smart contract that interacts with other contracts to perform transfers, subscriptions, and other operations.This decentralized approach enhances security and expands the system's functionality.3. Managing Jetton wallets and balances. Smart contracts are responsible for keeping track of user balances and recording all transactions on the network. Services such as tonscan.org provide a visualization of this data, allowing users to easily track their assets.

Each Jetton wallet has a unique address, which ensures the security and transparency of all transactions.

4. Mechanisms for transferring Jetton tokens. Jetton transfers are carried out through a special process in which the sender's wallet smart contract sends a message to the recipient's smart contract to adjust the balances. This process involves transfer notifications and account status messages.

Notifications inform the recipient of the arrival of tokens, and account status messages take into account the TON balance used to pay fees.This approach ensures the reliability and security of all transactions on the network.

Tools for obtaining data about Jetton

1. TON Explorer. To obtain detailed information about Jetton tokens, you can use blockchain explorers, such as tonscan.org. With their help, it is easy to track balances, transaction history, and other data related to specific tokens, ensuring complete control and transparency of operations.

2. Wallet interfaces. Modern crypto wallets often include built-in features for working with Jetton tokens. They allow you to track your balance, manage your assets in real time, and make secure transactions, providing convenience and transparency for users.Real-world applications of Jetton tokens on the TON blockchain

Jetton tokens are widely used within the TON blockchain ecosystem, making them a flexible and sought-after tool.

Below are the main areas of their use:

1. Stablecoins. Jetton tokens are suitable for issuing stablecoins — digital currencies pegged to stable assets, such as the US dollar. This pegging provides convenience for everyday payments and reduces the risks associated with the high volatility of cryptocurrencies.

For example, using the Tether (USDT) token on the TON blockchain allows for fast and secure transfers with low fees, increasing liquidity and simplifying financial transactions within the ecosystem.

2. Decentralized exchanges (DEX). Jetton tokens are an important element in the functioning of decentralized exchanges on the TON platform. Such DEXs allow users to exchange tokens directly on the blockchain without intermediaries, which reduces the likelihood of fraud and increases the privacy of transactions.

For example, the STON.fi project uses Jetton tokens to simplify trading on its platform, providing a secure and convenient space for exchanging cryptocurrencies.3. Economic models and crowdfunding. Jetton tokens open up opportunities for building complex economic systems and conducting crowdfunding campaigns. Similar to the wave of ICOs that took blockchain to a new level, proprietary Jetton tokens allow projects to attract funding, motivate user participation, and develop innovative digital ecosystems.

This approach contributes to audience growth and investment activity, strengthening the position of the TON blockchain in the crypto space.

In conclusion on Jettons on TON 

Jetton tokens on the TON platform create a reliable foundation for issuing and managing your own digital assets. Their capabilities are extensive: from stablecoins and decentralized trading platforms to advanced economic models within blockchain ecosystems.

The use of master contracts and smart wallets ensures secure, transparent, and efficient management of such tokens.

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