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- 1 TON Foundation declared support for Elliptic to facilitate the network with data intelligence and additional ecosystem security.
- 2 It will protect the exposure of TON users and also promote Toncoin.
TON Foundation, the Open Network has announced that a leading blockchain analysis firm, Elliptic will provide additional security to the foundation and will help TON Foundation reach its goal of racing crypto to every pocket by forming a web3 ecosystem on Telegram.
It will provide greater visibility and security to the ecosystem as Elliptic will display all TON wallet addresses and flag those linked with bad actors or malicious activities. This will safeguard the users.
TON has a rapidly growing community. The number of registered accounts on TON has grown by 165%. Its collaboration with Elliptic will confirm that the users of the TON ecosystem are protected from accounts linked with malicious activities. Thus, it will enhance the foundation’s robust security.
Justin Hyun, the Director of Growth at TON Foundation, said “Elliptic support will increase security by protecting the user from any criminal activity. The TON’s ecosystem will remain secure as it continues to scale at pace.”
About TON and Elliptic
TON is an open network foundation. It is a non-profit organization that is funded by the community. It was founded in 2023 in Switzerland. It acts in the community’s interest and runs intending to put crypto in every pocket. By enhancing the web3 ecosystem in Telegram Messenger, TON is providing billions of people the opportunity to own their digital identity, data, and assets.
Elliptic works as a risk management company for crypto businesses, governments, and financial institutions worldwide. They are backed by investors like J.P. Morgan, SBI Group, Santander Innoventures, and Wells Fargo Strategic Capital. Elliptic has evaluated risk on transactions worth several trillion dollars. It has also uncovered activities related to money laundering, fraud, terrorist funding, and other financial crimes.
Summary
The Open Network (TON) Foundation has declared support for Elliptic in a move to facilitate enhanced security and data intelligence. The blockchain analysis firm will support the TON Foundation in reaching its goal of putting crypto in every pocket. It will also help in building the Web3 ecosystem in Telegram.
Along with this, Elliptic will support by screening TON wallet addresses and identifying those who are connected with malicious activities. They will also engage in the promotion of Toncoin to get listed on esteemed exchanges to enhance the visibility and security of the TON ecosystem.
The expansion of the TON Foundation will make it available for the new users who will enter the ecosystem and experience true asset ownership.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
