The other day it was reported that the Telegram encrypted messenger shortly plans to launch its own ICO as a ‘third generation’ blockchain with its native tokens called ‘grams’, together with a blockchain-network – Telegram Open Network (TON).
This ICO may become one of the largest in history. Only during the pre ICO sale, it is planned to rise up to $500 thousand, and in the next stage – $3-5 billion.
The TON will be based on the “proof-of-stake” principle. This way one will be able to abandon mining as a method of creating new blocks. This is going to be a scalable platform with ‘homegrown’ cryptocurrency, allowing to transfer funds between users instantly.
Today Etherium is considered as the most popular cryptocurrency platform. It is palnned that TON will be built into the Telegram, after which it will become the largest blockchain network by the number of users. That way, the network can steal leadership of Etherium.
The issuance of Telegram tokens will be controlled by the owners of the maximum share of grams acquired during the ICO. A total of 5 billion tokens will be issued, of which 4% to be owned by developers, at least 52% – by Telegram companies, and the rest – by investors.
The ‘third generation’ blockchain will consist of four main elements:
- TON Services. It is a platform for third-party services of any type. It will allow smartphones to use friendly interfaces for decentralized applications and smart contracts.
- TON DNS. The system is a service for assigning human-readable names to accounts within blockchain network: simple words or phrases.
- TON Payments. It is a payment platform for micropayments to be protected as reliably as today’s money transfers in electronic systems. It will be highly productive and can process up to a million transactions per second.
- TON Blockchain. It is a scalable Telegram network, which will allow to keep the cost of transactions at a low level even at high loads.
The online portal Forklog.com notes: “The launch of Telegram External Secure ID is scheduled for the first quarter of this year. Telegram Wallet is scheduled to run in the fourth quarter of 2018, and a TON-based economy may appear in the first quarter of 2019. It will be followed by the remaining Telegram Open Network services.”
Telegram Casino is a unique development by Slotegrator. This is a separate channel in Telegram, synchronizing with the main platform of an online casino
As noted in the Slotegrator, if the messenger gets its own internal cryptocurrency, it will be possible to connect the module of the payment system directly as, for example, it is practiced now.