Highlights of the first chapter of Free TON Whitepaper

Highlights of the first chapter of Free TON Whitepaper

Mitja Goroshevsky, Technical Director of TON Labs, developed a Whitepaper document describing the further development path of Free TON. On August 11, the document was posted on the forum for discussion. In this article, we will analyze the main points of the first chapter of Whitepaper - "Free TON."

Decentralization

This paragraph is dedicated to describing Free TON, as well as the main goal of the blockchain - complete decentralization. Decentralization ensures freedom of speech, thought, transactions, equal economic opportunities for all users, since blockchain management is not concentrated in the hands of one group or one person. Mitja Goroshevsky notes that humanity has already almost completely given its freedom to governments and some technological organizations, because we believe that this approach provides our protection. Nevertheless, together with our freedom, we deviate from our liberal values. Free TON as a decentralized blockchain can solve this problem.

Meritocratic token distribution

The meritocratic model of token distribution (MTD) is that each community member can submit a contest for discussion. If the contest gains a majority of votes in favor due to its value, it is considered approved. Then the jury is selected, the contestants offer their works, the jury members evaluate them and the tokens are distributed among the winners.

Governance

This paragraph is dedicated to the description of the Free TON voting system - Soft Majority Voting, which takes into account the votes of users who are really interested in the development of the network. The voting system is implemented on smart contracts with mandatory parameters, so all members of the community can see the results of the vote. This reflects the principle of transparency of voting.

Join the Whitepaper discussion on the forum. Also we wait for your comments in our channel.

Highlights of the second chapter of the Whitepaper are available in our next article.

Find out more about the Everscale
Subscribe to our social networks and stay up to date with the latest news
SUBSCRIBE ON SOCIAL
by GramKit team
Unique article