Beosin KYT has integrated TON to develop the security and compliance of the TON ecosystem

As a high-performance blockchain and work closely with Telegram, The Open Network (TON) ecosystem is growing rapidly. On April 20, Tether issued the native USDT on TON to attract more and more funds entering the TON ecosystem for daily payments and trading. At present, the total value locked of TON has exceeded 300 million dollars. The daily trading volume of decentralized exchanges on TON has reached 60 million dollars and that of on-chain derivatives has reached up to 19 million dollars. A large number of users have begun to interact with projects on TON.

source: https://tonalytica.redoubt.online/public/dashboards/gVn4AEq0bQwAEVYnJPvMZd0zEatZDvtOsvIKOB2y?org_slug=default

With increasingly active trading, high-risk funds are trying to be mixed through the TON network. In response to such security and compliance challenges, Beosin provided the Know Your Transaction (KYT) service for the TON network to monitor and alert any high-risk transactions in the TON network and protect the financial security of TON ecosystem.

1. KYT supports TON multi-account query and analysis

Unlike the Ethereum network, TON has a unique sharding architecture design. An account on TON refers to a fundamental element that holds information about users and smart contracts within the network. TON does not distinguish between accounts, addresses and contracts.

Each account can have an associated balance in TON Coins, some code (contract) and related data. For example, the data in the account can be used to store the current owner of an NFT. Personal accounts usually have a wallet contract that allows standard wallet operations, which is used to receive and send transactions to other wallet contracts. As shown in the figure below, Bob's Wallet v3 wallet, Alice's Wallet v4 wallet and Jetton token wallet are actually smart contracts.

There are currently different versions of wallets in the TON network, and the most used version is Wallet v3. This version introduces the subwallet_id parameter, allowing users to create multiple wallets with one public key and different subwallet_ids correspond to different wallet addresses.

Beosin KYT has been upgraded to support TON wallets and account features. Based on blockchain big data analysis technology and advanced AI technology, Beosin KYT can identify any suspicious transactions in the TON network, conduct comprehensive risk assessments, and identify risks in on-chain relationships through millions of address tags and blacklist address libraries, helping exchanges and TON ecosystem build KYT and continuous address risk assessment capabilities.

2. KYT supports multiple Jetton tokens and cross-chain queries

Currently, Beosin KYT supports the transaction analysis of $TON, the native token of the TON network, and 19 Jetton standard (similar to ERC20 standard) tokens:

● TON

● Proxy TON

● Tether USD

● Ton Miner

● TonMiner Global

● AutoTCrypto

● Will Be Rich

● STON

● Ton Raffles Token

● ANON

● TON PET MEMECOIN

● Gram

● Resistance Dog

● PUNK

● JetTon

● Tonstakers TON

● DeFinder Capital

● TON Cats Jetton

● Fanzee Token

● Shards of Notcoin NFT bond

Beosin KYT can not only conduct compliance queries on TON, but also support cross-chain automatic penetration and association to other Layer1/Layer2 networks for risk association queries to prevent risky funds from laundering money through the TON network. The address panel will display the target address's risk score, address label, and fund flow:

Beosin KYT also provides users with a clear view of the flow of funds from the target address on the TON network , allowing users to conduct deeper inspection and analysis of the associated addresses and transaction paths:



3. Conclusion

Beosin has been committed to the security and compliance development of the TON ecosystem. Previously, Beosin has provided smart contract security audit of TON ecosystem projects. Last year, as the exclusive security partner of Hack-a-ton x DWF Labs x AWS, Beosin provided workshop guidance and weekly Q&A for developers to solve the difficulties in building TON ecosystem projects.

In addition, TON has vigorously held community gatherings and developer coding camps in various regions to attract more developers to participate in the building of the TON ecosystem. Beosin has hosted TON offline meetups in Singapore and Bali as a local partner and provided contract development training and security audit discounts for the participating teams in the Seoul Tact BootCamp.

Now Beosin KYT is upgraded for the TON ecosystem, providing projects built on TON and centralised exchanges with a variety of functions such as malicious address query, transaction risk scoring, STR report output, on-chain fund analysis and tracing, etc., to help the compliance and security development of the TON ecosystem.

Beosin KYT has been integrated into Beosin API, allowing developers to directly access Beosin's security and compliance services through GET/POST requests. Beosin API is a REST API that uses unified endpoint resources and standard HTTP response code, which is protected using HTTPS and TLS. Users can visit the following links to learn more and try out Beosin API: https://beosin.com/service/api