Telegram user-base may be the killer app of TON blockchain
Open Gram Italia
Scaling and implementation
According to representatives of Telegram, crypto-currencies and other technologies based on the blockchain have the potential to turn the planet into a safer and self-controlled environment, but so far no currency created by consensus has become established in the mass market and has not reached universal acceptance. Despite the practical value of bitcoin and Ethereum, "at the moment there is no standard crypto currency used for the regular exchange of values in the everyday life of the general population." It is to change this situation that the TON project is aimed. Representatives of Telegram are confident that the world needs a "decentralized equivalent of the usual currency - a true crypto currency for the mass market."
An important requirement for a crypto currency for a mass consumer is also the scaling of transaction bandwidth per second, which is already available in most credit card networks, such as Visa and Mastercard. While Bitcoin and Ethereum developers are racking their brains over increasing the bandwidth, according to Telegram's information document at the moment, this figure is 7 transactions per second for bitcoin and 15 for Ethereum, which results in insufficient speed and higher transaction costs. However, it seems that this second information document does not take into account the second level protocols.
Moreover, according to Telegram, existing crypto-currencies also face other difficulties. For example, they are still too complex for ordinary traders and consumers, and the demand for digital assets comes mainly from investors, not ordinary consumers. Also, the ecosystem lacks a critical mass for growth and "the actual implementation of hundreds of millions of users."
"Telegram uses the experience in the distributed storage of encrypted data to create a TON, a fast and scalable multi-block platform," it says in white paper. "TON can be considered a decentralized supercomputer and a value transfer system. By combining minimal transaction time and maximum security, TON can be an alternative to VISA / Mastercard services in a new decentralized economy. "
Technical specifications
Blockchain TON will consist of a main chain and (eventually) from a huge number (2**92) the accompanying block chain (segments), which can separate and connect in a dynamic mode to manage changes in load and optimal throughput. The TON platform approach will be used evidence of ownership interest, based on the version of the Protocol is Byzantine Fault Tolerant ("the problem of the Byzantine generals"), and instantaneous routing in hypercube to split the workload between the segments. Network protocols for data storage, privacy use of the similarity of the TOR software, and micropayments will be released after the blockchain kernel TON.
Of course, the TON platform will be fully integrated into the Telegram messaging network. According to white paper, this will allow Telegram to manage an extensive user base and develop an ecosystem that will open crypto currency for millions of people whose "light wallets" will be embedded in the Telegram application. The document also states that 84% of all block projects have active channels in Telegram, which is more than all other messaging services combined. This means that Telegram is "the most popular messenger application in the world of crypto-currency".
According to the road map presented in white paper, a test network with minimal functionality of the TON platform will be launched in the second quarter of 2018. Then, after passing the testing and security audit phase, a stable version of TON and Telegram-purse will be launched in the fourth quarter of 2018.
Financing in Gram
The currency of the TON platform will be called Gram. To finance the TON platform in the first quarter of this year, Telegram will launch the sale of tokens. It is assumed that 44% of the total (2.2 billion) Gram will be sold at a starting price of 0.10 US dollars per Gram with a phased increase. The price of each Gram will be one billionth higher than the previous one, and after selling all 2.2 billion tokens, the cost of one Gram will reach $ 1. Based on these assumptions, it is possible that the sale of Telegram tokens has every chance of becoming the largest in the history.
52% of the total Gram will be left in TON Reserve to "protect the new crypto currency from speculators and maintain flexibility in the early stages of the evolution of the system," and another 4% will be left for the development team.
According to the plans for the current moment, the Simple Agreement for Future Tokens, SAFT ("Simple agreement for future tokens") will be used to sell the tokens with the conversion of the original TON Gram in a 1: 1 ratio after the launch of the TON block.
Telegram wants to become a launching pad for TON, but over time it is planned to transfer ownership and management of the TON system to the non-profit TON Foundation. "Until 2021 will be created and implemented the initial vision and architecture of TON", - stated in white paper. "Then the element" Telegram "will be deleted from the abbreviation TON, and the name itself will be changed to" The Open Network ". After that, the constant improvement of the TON blockade will fall on the shoulders of the TON Fund functionaries. "
"Killer app" of the platform TON: user base, focused on privacy
The "killer application" of the TON platform is Telegram's ability to meet the requirements of millions of crypto currency fans from the 200 millionth messenger user base. However, at the same time, it should be noted that most of the population does not care about encryption or crypto-currencies. For example, messaging applications like Messenger from Facebook and Whatsapp are much more popular than Telegram.
Telegram is an independent service on self-financing with an emphasis on data security. The popularity of Telegram among adherents of crypto-currencies can be explained by the fact that the application was funded by "libertarians to preserve freedom by encrypting data." These properties increase its appeal compared to other platforms, such as Messenger or Whatsapp, for users who are interested in privacy protection.
In this vein, it is interesting to reflect on the possible launch of its own crypto currency and Facebook social network with integration into the system and the messenger.
In one recent post, Mark Zuckerberg, co-founder and CEO of Facebook, shared the idea that, contrary to the generally accepted view that technology can be the driving force behind decentralization, expanding the capabilities of people, it now seems that the combined effect of technology is to concentrate opportunities in the hands of large corporations and governments.
"There was a significant reverse trend, represented, for example, by encryption and crypto currency, which take influence from centralized systems and transfer it back to people," says Zuckerberg. "But then there is a new risk - these phenomena are more difficult to control. I like to understand this in more detail and study the positive and negative aspects of these technologies, as well as the best methods for their application within our services. "
In his speech at the International Conference on Cybersecurity on January 9, 2018, the director of the US Federal Bureau of Investigation, Christopher Ray, shared his own concerns about encryption, saying that last year law enforcement agencies could not access 7,800 devices.
"This problem negatively affects the course of investigations abroad on such issues as trafficking in human beings, combating terrorism, counterintelligence, combating gangs and organized crime in general, child labor and cyber security," he said.
He called on representatives of the private sector to find a way to "provide a response to legitimate judicial orders with the maintenance of both the rule of law and cybersecurity." Perhaps Zuckerberg reflects on exactly such access problems.
It is unlikely that Facebook has turned into the same reliable security flagship as Telegram, but it will definitely be fun to watch the innovations of Facebook in the field of crypto currency.
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