Telegram May Soon Launch Blockchain Platform Telegram Open Network
Telegram messenger intends to introduce its own blockchain platform called Telegram Open Network (TON) by the end of November, newspaper Vedomosti reports.
The platform will be launched in test mode, in accord with the information that the press found out from the project investors, who received a letter from Telegram’s owner Pavel Durov. Although, the company’s head has not yet commented on this information.
At the beginning of 2018, the team led by Durov managed to attract $1.7 billion from investors to create the TON platform. The Gram cryptocurrency is reportedly to be used in the system. According to the developers, TON will conduct operations more efficiently than Bitcoin or Ethereum blockchains and will be rivals to Visa and Mastercard payment systems. Telegram messenger users will have access to a wallet which is to become the most popular in the crypto field.
According to the investors, TON Virtual Machine (TVM), a smart contract solution, is almost finished, and the creation of the TON’s protocols and distributed ledger is already being completed. The developers created protocols without assistance from other projects’ representatives. Some protocols of the TON network can be considered as a new, almost decentralized possibility of data sharing.
As previously reported, in summer 2018, Telegram released a new solution called Passport, a decentralized platform for storage of documents and personal data, and in August, Charlie Lee, Litecoin founder, tweeted that users can conduct transactions with LTC through the Telegram program.