Layer-1 crypto project The Open Network (TON) is announcing plans to launch a layer-2 payment chain as a top priority for this year.
According to a new blog post on its roadmap, TON Core says a payments-focused L2 is crucial to the ecosystem’s success.
“The top priority of layer-1 of the TON blockchain is the ability to scale and be able to support operations with 500 million active users.
The design of layer-1 focused on scalability and decentralization rather than maximum speed of single transaction or minimum fees. Nevertheless, the current speed and network fees fully meet the needs of mass users for everyday activities.”
TON Core says that to enable activity such as high-frequency trading and instant gaming, a layer-2 must be implemented.
“One such solution is Payment Network, a Layer 2 system based on payment channels and described in the original TON whitepaper.
Payment Network allows for:
Instant transfers with micro-commissions between users,
Simple asset swaps…”
TON Core says the Payment Network is in the beta stage and has yet to be fully tested or audited. There are three stages to the chain’s future development:
“Testing and finalizing the current prototype.
Adding support for jettons and extra-currencies.
Adding support for swaps at the next stage.”
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