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Toncoin does not simply join the Kazakh digital market in an anecdotal way. It becomes one of 107 tokens certified by the government, alongside giants such as Bitcoin and Ethereum. This approval was not obtained lightly; it follows a rigorous audit which confirmed that Toncoin meets the strict registration criteria of Kazakh regulators. In other words, Toncoin is now recognized as a reliable alternative to established cryptocurrencies such as Stellar, Polygon and Avalanche.
This decision demonstrates Kazakhstan's intention to position itself among the pioneers of blockchain technology. By approving Toncoin, Kazakhstan sends a clear message: the country is open to technological innovation and is actively seeking to integrate cutting-edge technologies into its economic infrastructure. This openness to new technologies could attract investors and technology companies, stimulating the local economy and creating new opportunities for employment and growth.
The Open Network, Toncoin's issuer, is growing in popularity as an ideal ecosystem for blockchain technology. Leveraging Telegram's huge user base, the Open Network offers high-end solutions such as smooth in-app transactions and innovative mini-apps. This Telegram-based infrastructure is both low-cost and highly scalable, making it particularly attractive to users and developers alike.
Since the beginning of the year, the network's total locked value (TVL) has grown spectacularly. Indeed, it has risen from $71.6 million on January 1, 2024 to over $600 million today. This leap reflects not only increasing adoption, but also growing user confidence in the network.
The statistics speak for themselves: daily active addresses on the open network rose from 22,400 to over 577,000 by mid-June. The daily active address (DAA) metric currently stands at around 350,000, testifying to the commitment of users and the appeal of the network. This rapid growth is the result of several factors, including ongoing updates and new features.
One of the most significant updates has been the introduction of advertising revenue sharing functionality. This innovation enables channel owners on Telegram to earn money from advertising, creating new use cases for Toncoin and boosting demand for the token. This feature attracts not only content creators but also advertisers, contributing to the growth of the ecosystem.
For Kazakhstan, the approval of Toncoin is a vital step. It marks official recognition of crypto-currency within a regulated framework, underlining the growing adoption of blockchain in global finance. This integration could transform the country's financial landscape, offering fast and cost-effective financial transfer solutions to more than 55 million people. The digital innovations carried by the open network could also stimulate the modernization of Kazakhstan's financial infrastructure.
Toncoin's future in Kazakhstan looks bright. With regulatory approval, Toncoin is well positioned to attract more investors and users. Toncoin's integration into Kazakhstan's licensed platforms could also serve as a model for other countries, showing that cryptocurrencies can be effectively regulated and integrated into traditional financial systems.
This approval could also encourage other blockchain projects to consider Kazakhstan as a favorable destination for their activities. The country could become a hub for blockchain innovations, attracting talent and investment from all over the world. This could not only boost the local economy, but also position Kazakhstan as a leader in blockchain technology.
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