Telegram Begins Testing TON Blockchain Network – Media
Telegram began testing the Telegram Open Network (TON) blockchain network in a limited circle of professional users. Access to the network was given to Russian and foreign teams, Vedomosti reports.
It is noted that developers can already install the node, but it is too early to talk about the specific results of the testing project. One source explained that the current test phase is designed to study network properties and transaction processing speed in the TON.
In the project description, the Telegram team intended to create a competition with Bitcoin and Ethereum, which so far cannot replace the leaders of traditional payments, Visa and Mastercard, in the number of transactions. They are capable of processing only 7 and 15 operations per second, respectively. The developers have promised that the TON will surpass these blockchain networks in speed.
According to the participants of the pilot program, the first tests demonstrate an impressive speed of operations. However, specific indicators are not called, as this is testing.
The first information about the development of the TON cryptocurrency network appeared in May 2018. The project launch dates were postponed several times. Recently it has become known that Telegram blockchain network will be able to start work in November 2019. If this does not happen, the company will return funds to investors and cancel contracts for the purchase of the Gram tokens, the local currency with which the TON works.
In February 2019, Telegram experts evaluated the readiness of their blockchain project for 90%.
Earlier, a video with a review of the Telegram crypto wallet appeared on the network.