Telegram is Launching a First Version of TON’s Blockchain Platform

Russian publication Vedomosti reports Telegram, the encryption messaging giant with over 200 million monthly active users will release a test version of its blockchain-based TON (Telegram Open Network) platform by end of autumn 2018.

Link was mentioned gram.sh

TON is a multi-blockchain Proof-of-Stake platform which is designed by Pavel Durov’s team, hosts a new generation of cryptocurrencies and decentralized applications which promised that it will process transactions faster than the Bitcoin and Ethereum blockchains and will be comparable to in speed of payments with Visa and Mastercard. The technical details around the project is declared in tech docs and "white paper" on page.

Speaking to the publication, 2 individual investors have confirmed that they received a special newsletter that was sent to TON’s Initial Coin Offering (ICO) participants in early September. The newsletter talked about the platform’s blockchain component which is already finished.

Telegram APP

The application already displays the balance of users with GRAM

Telegram ICO

In the white paper detailing the ICO held by Telegram, the company detailed its objective to create a cryptocurrency that could overcome the limitations of Bitcoin and the other leading cryptocurrencies. The digital currency was advertized to offer lower transaction fees at quicker transaction times.

The white paper reads: “To this day, no consensus-backed currency has been able to appeal to the mass market and reach mainstream adoption. Telegram will use its expertise in encrypted distributed data storage to create TON, a fast and inherently scalable multi-blockchain architecture.”

Telegram official ico page: gram.sh

Mention

Telegram attracted a lot of attention earlier this when they raised $1.8 billion in its successful private pre-sale for TON and its messaging service. Pavel Durov didn`t planned a public ICO but later changed opinion. We expect significant appreciation of TON in the months to come.