Welcome to your comprehensive guide on key concepts and terminology within The Open Network (TON) and the broader cryptocurrency ecosystem. Whether you're new to blockchain or deepening your expertise, this glossary delivers clear, concise definitions structured for easy navigation and enhanced understanding.
Designed with both beginners and experienced users in mind, this resource covers foundational terms, technical components, market slang, and ecosystem-specific jargon—all organized alphabetically for quick reference.
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A
Airdrop
An airdrop is a distribution method where crypto tokens are sent for free to eligible wallet holders, often as part of a marketing strategy or community reward.
Altcoin
Any cryptocurrency other than Bitcoin is referred to as an altcoin. These include Ethereum, Solana, Toncoin, and thousands of others offering varied functionalities.
AMA
Short for "Ask Me Anything," an AMA is a live Q&A session hosted by project teams to engage directly with their communities, answer questions, and build transparency.
API
An API (Application Programming Interface) enables different software systems to communicate. In blockchain, APIs allow wallets, exchanges, and dApps to interact seamlessly with networks like TON.
APY
APY (Annual Percentage Yield) measures the real rate of return earned on a staking or yield farming position over a year, accounting for compounding interest.
B
Bearish
The term bearish describes a market sentiment where prices are expected to fall. It reflects pessimism among investors, often triggered by negative news or prolonged sell-offs.
Bitcoin (BTC)
Bitcoin was the first decentralized digital currency, introduced in 2009. Built on open-source code, it pioneered blockchain technology and remains the most widely recognized cryptocurrency.
Blockchain
A blockchain is a distributed ledger that records transactions across multiple computers in a secure, transparent, and immutable way—forming the backbone of all cryptocurrencies.
BoC & BoF
BoC (Bag of Cells) and BoF (Bag of Files) are low-level data structures used in TON’s architecture for storing and transmitting serialized smart contract data.
Bot
In the context of Telegram and TON, a bot is an automated account that performs tasks like payments, notifications, or customer service without human intervention.
Bridge
A bridge connects two separate blockchains, enabling the transfer of tokens and data between them. TON supports cross-chain bridges to enhance interoperability.
Bullish
When investors are bullish, they expect prices to rise. This optimistic outlook often drives buying activity and contributes to upward market momentum.
Burning
Burning refers to permanently removing tokens from circulation, reducing supply—often done to increase scarcity and potentially boost value.
C
CEX
A CEX (Centralized Exchange) is a platform like Binance or Coinbase where users trade cryptocurrencies through a central authority that manages custody and order matching.
CMC
CMC (CoinMarketCap) is a leading data aggregator that tracks real-time prices, market caps, trading volumes, and trends across thousands of crypto assets.
Cryptobot
The Cryptobot on Telegram allows users to buy, sell, and trade Toncoin and other cryptocurrencies peer-to-peer without undergoing KYC verification—a hallmark of decentralization.
Custodial vs Non-Custodial
A custodial wallet means a third party holds your private keys (e.g., exchange wallets), while a non-custodial wallet gives you full control over your funds—critical for true ownership in Web3.
D
DApps
Decentralized Applications (DApps) run on blockchain networks rather than centralized servers. On TON, DApps leverage smart contracts and offer censorship-resistant services.
DCA
Dollar-Cost Averaging (DCA) is an investment strategy where users invest fixed amounts at regular intervals to reduce the impact of volatility over time.
Decentralization
Decentralization is a core principle of TON and Web3 itself—removing single points of control to create more resilient, transparent, and user-owned systems.
DeFi
Decentralized Finance (DeFi) replicates traditional financial services—like lending, borrowing, and trading—using smart contracts instead of banks or intermediaries.
DEX
A DEX (Decentralized Exchange) allows peer-to-peer trading directly from wallets via smart contracts. Examples include STON.fi on TON, ensuring trustless transactions.
Diamond Hands
Investors with diamond hands hold their assets through market downturns, showing strong conviction despite volatility—a trait celebrated in crypto culture.
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E
EVM
The Ethereum Virtual Machine (EVM) executes smart contracts on Ethereum. While TON uses its own TVM, EVM compatibility enables cross-platform development.
Exchange
An exchange is a marketplace where users can buy, sell, or trade digital assets. Both centralized (CEX) and decentralized (DEX) models exist across the ecosystem.
F
Farming / Yield Farming
Yield farming involves locking up crypto assets in liquidity pools to earn rewards—usually in the form of transaction fees or additional tokens.
Fiat
Fiat currency refers to government-issued money like USD or EUR. Converting between fiat and crypto happens via on-ramps and off-ramps.
FOMO
FOMO (Fear of Missing Out) drives impulsive investments when users see rapid price increases—often leading to inflated bubbles.
FUD
FUD (Fear, Uncertainty, Doubt) describes negative sentiment spread intentionally or unintentionally, which can trigger panic selling.
Full Node
A full node on TON stores a complete copy of the blockchain and validates all transactions—playing a vital role in network security and decentralization.
FunC
FunC is TON’s native programming language for writing secure and efficient smart contracts—similar to Solidity on Ethereum.
G
Gas
Gas fees are small payments made to process transactions or execute smart contracts on a blockchain. TON offers low-cost operations thanks to its scalable design.
GitHub
Developers use GitHub to collaborate on open-source projects—including TON’s core protocols—which promotes transparency and innovation.
H
Hackathon
A hackathon brings developers together to build innovative solutions within a short timeframe—frequently used to grow the TON developer community.
Hash & Hash Rate
A hash is a unique digital fingerprint of transaction data. The hash rate reflects the computational power securing proof-of-work blockchains.
I
ICO & IDO
An ICO (Initial Coin Offering) raises funds early in a project’s lifecycle. An IDO (Initial DEX Offering) does the same but through decentralized exchanges—offering fairer access.
Inflation
While traditional currencies lose value due to inflation, many cryptos like Toncoin are designed with deflationary mechanisms such as token burning.
K
KYC
Know Your Customer (KYC) is an identity verification process used by regulated platforms. However, many TON-based services operate without KYC for privacy-focused users.
L
Launchpad
A launchpad helps new blockchain projects raise capital and gain visibility. In TON’s ecosystem, platforms like Tonstarter support promising startups.
Liquidity Pool
A liquidity pool aggregates user funds in a smart contract to enable automated trading on DEXs—rewarding providers with a share of fees.
M
Mainnet & Testnet
The mainnet is the live version of a blockchain where real transactions occur. Before launch, projects use a testnet for debugging and performance testing.
Market Cap
Market capitalization equals the total circulating supply of a token multiplied by its current price—an essential metric for assessing project size.
Masterchain & Workchain
In TON’s multichain design, the masterchain manages global state and consensus, while individual workchains handle specific applications or rulesets—enabling massive scalability.
Metaverse & Moon
The metaverse refers to immersive digital worlds powered by blockchain. “To the moon” is a popular phrase expressing hopes for explosive price growth.
N
NFA
NFA (Not Financial Advice) is a standard disclaimer reminding readers that information shared should not be taken as professional investment guidance.
NFT & SBT
An NFT (Non-Fungible Token) represents unique digital ownership. A Soulbound Token (SBT) takes this further by being non-transferable—tying identity and achievements permanently to a wallet.
O
On-Ramp & Off-Ramp
An on-ramp lets you convert fiat into crypto; an off-ramp reverses the process—both crucial for mainstream adoption.
Onion Routing
Used by TON Proxy, onion routing encrypts data in layers to ensure anonymous communication—similar to how Tor protects internet traffic.
P
Paper Hands
Investors with paper hands sell quickly during dips due to fear—contrasting sharply with those who exhibit diamond hands.
Proof-of-Stake & Proof-of-Work
Proof-of-Stake (PoS) secures blockchains by requiring validators to stake coins. It's energy-efficient compared to Proof-of-Work (PoW) used by early chains like Bitcoin.
R
Roadmap & ROI
A project’s roadmap outlines its development milestones. Meanwhile, ROI (Return on Investment) measures profitability—key for evaluating success.
S
Scalability & Sharding
Scalability determines how well a network handles growth. TON achieves high throughput using sharding, splitting the blockchain into smaller chains (shards) that process transactions in parallel.
T
TEP & TVM
TEPs (TON Enhancement Proposals) standardize improvements across the ecosystem. The TVM (Ton Virtual Machine) executes smart contracts efficiently across all workchains.
Token & Tokenomics
A token is a digital asset representing value or utility. Its economic model—including supply, distribution, and incentives—is known as tokenomics.
👉 Explore how tokenomics shape long-term value in Web3 projects.
V–W
Validator & Nominator
A validator processes new blocks on TON after staking coins. A nominator supports validators by delegating stake—helping secure the network collectively.
Wallet & Web3
A wallet stores private keys and interacts with blockchains. Together with decentralized apps, it forms part of Web3, the next evolution of the internet built on ownership and trustlessness.
Frequently Asked Questions (FAQ)
What is The Open Network (TON)?
TON is a high-performance blockchain originally developed by Telegram, designed for speed, scalability, and seamless integration with messaging apps like Telegram via bots and mini-apps.
How do I start using Toncoin?
You can acquire Toncoin through exchanges or P2P platforms like Cryptobot on Telegram. Store it in a non-custodial wallet like Tonkeeper or Tonhub for full control.
Is staking available on TON?
Yes. Users can participate as nominators or validators in TON’s proof-of-stake system to earn rewards while helping secure the network.
What makes TON different from Ethereum?
TON offers faster transaction speeds, lower fees, native sharding, and tighter Telegram integration—making it ideal for mass-market DApps and microtransactions.
Are NFTs supported on TON?
Absolutely. TON supports both standard NFTs and Soulbound Tokens (SBTs), enabling digital collectibles, identity verification, and gamified experiences.
Can developers build on TON?
Yes! Developers can write smart contracts in FunC or use TVM-compatible tools. Active grants and hackathons support innovation within the growing ecosystem.