Launch Telegram open network and issue Gram token
For more than a year, there has been intrigue around the startup of the creator of popular social networks Pavel Durov. The news about the launch of the Telegram open network blockchain made a lot of hype within the ecosystem. Not everyone, even the most devoted fans of Durov’s work, believed in the success of the developers, especially against the background of the expert criticism that accompanied the project.
But we hasten to reassure you, friends, to be a new platform and its Gram currency! The beta version was launched successfully, and now the development of the platform is at the final stage. When the blockchain will work at full strength, and where it will be possible to buy Gram - that"s all in today"s review.
What is the new technology?
TON is a special blockchain platform focused on modernizing the transaction process and introducing cryptocurrency into everyday life. The new platform, with reliable support, is quite capable of competing with Visa and Mastercard. Such statements are not loud promises, but a very real fact, which is what the advantages of the blockchain indicate:
- high transaction speed (much higher than that of existing payment systems, and to be precise, a thousand operations per second);
- One-of-a-kind, universal API;
- DNS service for reliable storage of assets and comfortable interaction with wallets;
- increased level of confidentiality, use of Telegram External Secure ID identification technology;
- Confidential payments without restrictions due to the new Gram Telegram coin;
- Secret chat with the possibility of self-destruction;
- Reliable protection against hacking and hacker attacks.
With such success, the new blockchain will certainly become a reliable server for network resources involved in trading, services and publishing information.
The start of TON is planned along with the launch of an intranet token, which will be available for exchange directly in the Telegram messenger and beyond.
The efforts of the Durov team
The Durov team announced its intention to create a new cryptocurrency product at the end of 2018. After that, the fate of the project was discussed in the spring of 2019, announcing testing for September 1 of this year. For technical reasons, testing has been rescheduled. But today, the trial version of the blockchain is in the public domain. Access to the code can be obtained on a special server github.com/ton-blockchain/ton, where there are links to the GitHub repository.
The operation of the Gram TON blockchain is provided by Proof-of-Work (PoS) technology. The developers had to work hard to solve the main problem of digital money - this is the low processing speed of operations. To this end, the Durov team promises to provide society with a new high-quality 5th generation Internet with a flexible blockchain architecture.
Analyzing the test version, we can confidently say that there are no analogues to such a project. Undoubtedly, this is a huge leap in the development of the crypto industry. A platform with such powerful functionality can bring considerable income to its investors.
TON financing issue
In total, it is planned to issue 5 billion coins, 200 million of which remain at the disposal of Telegram users. According to Whitepaper TON, assets are distributed as follows:
- 52% is a reserve fund to protect against speculation;
- 44% put up for auction;
- 4% belong to the development team.
After the completion of the first stage of the closed ICO project, we managed to attract USD 850 million from 81 investors. As a result of the second stage, the amount of investments amounted to $ 1.7 billion from 175 investors, who were carefully selected by the project management. According to a private source, the price of one token was approximately $ 0.36-1.33.
As the coin goes into free circulation, experts predict a significant jump in the rate. Thus, the cost of the token will vary between $ 2.1-8.0 dollars, and in 10 years the price will reach $ 15-30.
Project launch: when to wait?
Public access to the Telegram open network should be open no later than October 31, this period is provided for by an oral agreement between the developer and investors. Otherwise, Durov pledged to return all $ 1.7 billion to depositors.
Since the launch of the trial version was postponed more than once, and the head did not sign an agreement with investors, many skeptics are very pessimistic. But judging sensibly, Telegram cannot fail to launch its own blockchain, since a new business model of the network is built on it.
In order to receive the Gram cryptocurrency, investors must provide their public key details by October 16. To do this, they have access to the TON key generation application: generator.ton.org.
In addition, depositors are required to elect validators. This is because Telegram and the TON Foundation will not be able to play the role of validators after launching the platform.
How will the new token trade be held?
Currently, the public sale of digital currency Telegram is not possible. Token trading will be available only after the official announcement of the project. If we take into account the interest that the cryptocurrency market shows in the new coin, there is no doubt that it will appear on large exchanges soon. So, on the site of the 60cek.net exchanger it will be possible not only to buy the Telegram cryptocurrency, but also exchange it in many directions.
To the disappointment of many miners, Gram mining is not provided for by the blockchain project.
Summing up, it is worth noting that the scale of the project is really impressive. If the Durov team succeeds, the crypto industry will gain a powerful blockchain platform that will surpass Ethereum and Bitcoin in the speed of operations. And users of the Telegram messenger will have free access to virtual money, which will bring.