Overview of TON Wallet

Basic Terminology

  • TON Wallet: On the TON BlockChain, each wallet is managed by a seed phrase/private key pair, but each wallet is a smart contract. Before using it, each wallet needs to be deployed on the mainnet in advance, and a small amount of Toncoin needs to be paid as network fees for its usage.

  • TON Account: With the same seed phrases, different accounts can be created based on different contract types provided by the TON official. These accounts, due to different contract types, can support different functions but are still managed by the same set of seed phrases.

  • Contract Types: TON provides users with various types of wallet contracts, each of which can realize different wallet functions:

  • Subwallet ID: AN integer-form sub-wallet ID. The default value is 698983191. Different subwallet IDs can be set to create different sub-wallets.

  • Jetton: ERC-20 tokens on the TON chain.

  • Jetton Wallet: Each type of jetton within a wallet is managed by a jetton wallet. When users transact Jetton, it is actually done by the wallet contract calling the corresponding Jetton wallet contract.

Main Differences Between TON And EVM Chains

  • On the TON chain, everything is a smart contract, including wallets. the wallet address is also a smart contract address

  • Users need to pay a little Toncoin for their wallet contract before using it. It includes deploying the smart contract, and the storage fees

  • The smart contracts on the TON can be updated easily, while ETH contracts once deployed on the chain are difficult to update.

  • You can create many sub-wallets with one public key and different Subwallet IDs, which are all managed by the same seed phrase

Features Of TON Wallets

  • New wallet accounts need to pay a little Toncoin to deploy the smart contract on the chain

  • Each wallet has several formats of addresses. Although these addresses look completely different, they all accurately point to the specific wallet. Pay attention that transactions according to the different networks will cos the loss of your assets.

Different Formats Of TON Wallet Addresses

Main Differences Between TON Wallets And EVM Wallets

Composition Of TON Transaction Fees

Transaction fees on the TON Chain are priced in Gas. Unlike EVM, the transaction fee for each transaction consists of several parts, and currently users cannot modify or prioritize network fees.

Some TON Wallet Using Tips

  • All on-chain transaction fees are collected by the TON Chain, and TP wallets do not charge any fees.

  • Each wallet needs to spend a small amount of Toncoin during the first transaction to deploy the wallet contract on the chain. This expense is one-time.

  • Each transaction of each wallet will consume a certain amount of on-chain storage fees. This fee is not one-time and needs to be paid for each transaction.

  • For wallets that have been deployed, if there is no Toncoin balance, the corresponding contract storage fee will be deducted when Toncoin is received next time. Therefore, there may be a slight difference between the amount received and the amount transferred out.

  • When transacting, pay attention to whether the recipient's wallet address is consistent with the network of your own wallet. Cross-network transfers will result in permanent loss of assets! This rule applies not only to direct transfers but also to interactions with DApps.

  • Wallets are still created/imported in a decentralized manner based on mnemonic phrases and private keys. Please make sure to keep them safe.

  • Wallets that have been created will not change their addresses with the addition/change of contract types.

  • When interacting with DApps on the TON Chain, after connecting a wallet ,switching another wallet will not receive a reminder. Please make sure to check whether the connected wallet is the current one during transactions.

  • When connecting to DApps, some DApps may not prompt for network mismatch. Make sure that the network of the wallet (mainnet or testnet) matches the DApp network. Cross-network transfers will loss your assets!

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