Telegram launches its own cryptocurrency

Popular messenger Telegram is going to create its own cryptocurrency. This news issued a couple of weeks ago with a Youtube video declaring the idea of Telegram ICO called TON — Telegram Open Network. You can watch this video on YouTube:

However, this video contained no exact information and only araised 
numerous gossips and assumptions. The excitement of cryptocommunity is growing in geometric progression as more news about TON appear in media. Unfortunately, most of the news are from unofficial sources. TechCrunch.com refers to multiple sources who spoke to them, Cryptovest.com — to Telegram’s leaked roadmap and token information. In this post I am going to tell you what we have already known about this forthcoming ICO, referring to the following sources:

Telegram is an encrypted messaging service with about 200 millions of users. TON blockchain could turn Telegram into a multifunctional platform allowing to transfer money as well as text messages. According to its whitepapers (they were published by non-official sources) TON is going to be the next generation of blockchain that should introduce cryptocurrency into a mainstream of money market pushing centralized money-transfer decisions aside. To implement these plans TON’s team is going to improve existing blockchain solutions and combine speed, scalability and intuitive user inerface. 

TON coin is going to be named «Gram». This currency should serve for economic operations inside Telegram and for external use. Like Ethereum, TON will be based on «Proof-of-Stake» approach which defines the number of coins you get by the number of coins you already have. TON wallet is to be built into Telegram applications so it could case an explosive growth of «Gram» users (as it was noticed above, Telegram’s audience is about 200 millions of people). 

Another reason for «Gram» growth is an economic system inside Telegram network. This messenger is a hybrid with social network since it allows users to create groups and community chats. People could donate their «Grams» to authors of content they like. Also it should be able to sell digital and physical goods through Telegram. So TON ICO could have an interesting future. 

It is said that there will be two stages of selling tokens. The initial stage should last until March — this is going to be a private selling for a huge investors who could invest millions of dollars. Then the open sells will be started. The first token will cost 0.1 dollars. The price of each following token will be one billionth higher.

Four percent of tokens will be kept by development team for 4-years vesting. About 52 percent is to stay reserved to prevent market speculations. It is remained 44 percents of tokens which are going to be sold.

Telegram wallet is going to be launched by the last quarter of 2018. During the 2019 the TON-based economy is to be developed and included into Telegram. It is said that to get an encrypted key for Telegram wallet users have to pass verification with passport scans. But the private data is to be protected with a key known only to the owner.

The information about Telegram blockchain platform seems inspirational. Cryptocurrency based on a popular platform with hundreds of millions of already active users, famous team with a good reputation and declared plans promise good opportunities for investment. 

But all I have written in this post is taken from unofficial sources. I think, there is an element of truth here but we have to wait for an official information from actual telegram representatives. And I’d like to warn you: I don’t assure or motivate you to buy TON or any other tokens and cryptocurrencies. This market is as dangerous as perspective. Any investment could cause loss of your money. So take investment decisions according to your own opinion only.  

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Source of image: https://telegram.org/press