I just read Sage D. Young's intriguing article on Unchained about The Open Network (TON) blockchain - in short, the blockchain of Telegram.

Could this be the end of Solana's reign? It seems that TON's daily active addresses have been surpassing Ethereum's this month, according to Young's research. So, let's go into the details this article to see if TON could really be the Solana killer.

If you're a bit lazy like me, you can watch the following YouTube video which summarizes this analysis:

Key takeaways from Young's article:

• TON's surge could be due to Telegram's massive user base and built-in crypto wallet, giving it a significant advantage in terms of user adoption. It's no wonder that TON's price has increased almost 392% in the past year, reaching a market cap of $18 billion.
• TON has averaged 465,200 daily active addresses in June with a peak at 568,300, whereas Ethereum (layer-1) has currently 488,072 daily active addresses (as per ycharts) excluding its various layer-2s (E.g., Arbitrum, Optimism...). Therefore, we can at least say that TON is in the same order of magnitude as Ethereum layer-1, which is already a great performance.
• In comparison, Solana’s jas averaged roughly 1.64 million daily active addresses in June... So it's still about four times the figures of TON.

Furthermore, other sources have raised concerns about the numerous phishing attacks targeting TON users, which could hinder its growth and adoption. Despite this, TON's potential to leverage Telegram's vast user base is certainly intriguing.

Of course, Solana still holds a larger market cap and boasts a more established ecosystem. But could TON's combined popularity and potential to onboard Telegram users ultimately give it the upper hand?

Please be cautious regarding these very promising figures, and do your own research, as usual.