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Toncoin Leads Layer-1 Blockchain Finality Speed With 0.6-Second Settlement
Toncoin, the native cryptocurrency of The Open Network, a layer-1 blockchain protocol, currently leads in transaction finality speed.
According to results from a recent test, transactions using Toncoin require only 0.6 seconds to become immutable and irreversible, compared with Bitcoin, which has a time-to-finality (TTF) of one hour.
Toncoin’s Exceptional Performance
For context, Toncoin’s 0.6-second finality includes the waiting time for the next masterchain block and confirmation of that block.
This transaction speed places Toncoin 12 positions ahead of Bitcoin, the pioneer cryptocurrency and the largest digital asset by market capitalization.
Other solutions outperforming Bitcoin in transaction finality include Avalanche with approximately 1-second finality, BNB Smart Chain with 1.125-second finality, and Sui, which achieves transaction completion in 1.5 seconds.
Hedera’s 2.5-second finality places it among the five fastest layer-1 blockchain platforms, while the XRP Ledger ranks sixth with 4-second finality.
Other blockchains such as Stellar, Solana, TRON, and Ethereum are also among the top 10, with finality times of 5 seconds, 13 seconds, 1 minute, and 13 minutes respectively.
The remaining two blockchain protocols outperforming Bitcoin in transaction completion speed are Litecoin and Monero with finality times of 15 minutes and 20 minutes respectively, while Bitcoin maintains its previously stated 1-hour finality.
A Key Quality for Toncoin’s Sustainability
The impressive speed of Toncoin has increased its appeal among blockchain and cryptocurrency users.
Analysts believe the project’s focus on performance and real user experience forms the foundation of its long-term sustainability and adoption.
Notably, Toncoin serves as the exclusive in-app payment currency within the Telegram ecosystem.
It is used to purchase Telegram advertisements, Telegram Premium subscriptions, as well as unique usernames and anonymous phone numbers on the Fragment platform.
The cryptocurrency also supports the “tap-to-earn” gaming economy and powers Telegram Stars, the in-app currency used for tipping creators and purchasing digital goods.
Toncoin was created by Telegram founders Pavel and Nikolai Durov as the Telegram Open Network (TON).
The project, later renamed The Open Network following a legal battle with the U.S. Securities and Exchange Commission over registration status, became independent from Telegram before being reintegrated into the app in 2024.
See also: "Kraken Added Crypto-to-Cash Withdrawals via MoneyGram"
