Telegram plans to create its own blockchain platform

Cryptotechnologies are gradually taking over the world, blockchain is becoming part of many technological projects. All new and new companies are paying attention to this area. One of them is Telegram. Pavel Durov announced that his company plans to create a blockchain platform Telegram Open Network (TON) with its own cryptocurrency. And this is not a theory - the project is gradually being implemented, and its stages are spelled out in white paper of the future ICO Telegram.

Yes, the company's tokens will be presented exactly at ICO, and Durov believes that its cryptocurrency and TON blockchain infrastructure may well become a serious competitor to such payment systems as Visa or Masterd. Although, rather, it is not a competitor, but an alternative to these systems in the cryptocurrency world.

Modern blockchain systems, say, Bitcoin and Ethereum, cannot work with the same performance as Visa and Mastercard. If the latter have a transaction speed of about 50-60 thousand per second, then Bitcoin and the air have only 7 and 15 operations per second, respectively. Thus, many cryptocurrencies have a serious technical limit on their use.

Durov also plans to create a high-performance blockchain platform that will work on the principles of a distributed network. Subject to the emergence of a decentralized economic model, such a system will be able to compete with Visa and Mastercard. Telegram developers promise to provide a truly reliable tool for using cryptocurrencies. They will be stored in your wallet TON.

The instant messenger audience currently stands at about 150 million people, and by January 2022 it can reach 1 billion. Therefore, Telegram cryptocurrency can quickly become popular, at least, representatives of the new project think so.

The system participants, including channel owners, developers, payment providers and merchants, will use cryptocurrency - TON system tokens. “A whole new economy will appear, filled with goods and services, which can be paid for using cryptocurrency,” the Telegram team said in a statement. As for tokens, they are called Gram. As in many similar cases, these coins will serve as the main currency of the domestic economy Telegram. If desired, third-party users will be able to acquire cryptomonet.

The plan for the sale of tokens at Telegram is quite ambitious. Thus, during the presale, it is planned to raise $ 500 million. Funds, according to the authors of the project, are required for the development of the network, the purchase of equipment and the development of technologies. All this is necessary to maintain the infrastructure in working condition with the growth of the audience.

According to experts, the project announced by Telegram may be quite viable. So, Sberbank believes that the technical team of the project is quite capable of coping with the tasks that it faces, and TON looks quite promising. Nevertheless, experts are not completely sure that TON can make any serious competition to traditional financial services. The representative of VTB agrees with this opinion, they write "Vedomosti". Thus, attempts to create their own currency were made repeatedly, but during the implementation of such projects, problems arose due to the lack of “public consensus” on their use. Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov argues that the scope of Telegram's circulation is very small, so he does not represent a serious threat to traditional business and banks.

Co-founder of the investment company Exante Anatoly Knyazev sure that ICO TON can be quite successful. The fact is that it differs from all others by its simplicity and realism, and the project may well have the opportunity for expansion. Knyazev believes that Telegram will be able to reach the top of the stated amount of fees (ie, the so-called Hard Cap).

Well, since the current messenger team will be engaged in the technical implementation of the network, development costs will be relatively small. Most likely, funds raised during the initial placement of tokens will be used for active expansion.


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