For over a year, the Telegram cryptocurrency has been in the spotlight, and the latest news about the launch The Telegram Open Network (TON) blockchain is covered in many publications and discussed at major digital conferences.
About creating a blockchain project developed underthe leadership of Pavel Durov, the founder of the social network Vkontakte and the Telegram messenger, was announced in December 2018, although the first rumors leaked to the network a year before the official announcement.
TON has very good support and significant competitive advantages:
The new platform is focused on beingmore efficient and faster than their competitors. TON will be able to process millions of transactions per second and promises to introduce to mankind a new Internet with 5th generation blockchain architecture.
TON Team Efforts
The project team is moving slowly but confidently towards the goal. So what can the TON community offer?
The blockchain of the new digital currency will operate on the basis of Proof-of-Work (PoS) technology.
TON developers claim that the network will solve oneof the most pressing issues of cryptocurrencies. This is currently a low transaction processing speed. By comparison, Bitcoin has a capacity of 7, while Ethereum has 15 transactions per second. Gram promises to process thousands per second.
In total, about 5 billion coins will be issued, 200 million of which will belong to Telegram participants. According to the whitepaper of the project:
Since the ICO was closed, there is no official data on the value of Gram, TON cryptocurrencies. But, according to anonymous sources, the price ranged from $ 0.36 to $ 1.33 per token.
The funds raised went to the creation of cryptocurrency. The minimum investment limit was $ 20 million. Investors participating in the ICO of the project received good discounts. But far from all comers were able to make a contribution, since the TON leadership was personally involved in the selection of investors. Those who had the money, but could not invest it in a promising project, were extremely unhappy with this turn. In other words, only the “eligible” participated in the ICO.
According to the results of two rounds, the founder of Telegram raised $ 1.7 billion from 175 investors. The identities of investors were not disclosed, but some of them personally announced their accession to the ICO Gram.
Now, according to information published onLiquid cryptocurrency exchange website, its customers will also be able to become owners of Gram tokens. The sale starts on July 10, 2019. But at the moment, the news has not been confirmed by TON management.
As coins are released for free circulationAnalysts expect significant growth. According to the Aton investment company, the cost of Gram tokens will fluctuate in the range of $ 2.1-8.0, and in 10 years the price will reach $ 15-30 per token.
So still, when is the launch?
A document confirming the return appeared on the networkfunds for investors, if the launch of the platform is not implemented until October 31, 2019. But Durov has not signed this document. Initially, the launch of TON was scheduled for the first quarter of 2019.
The developers promised to release a new test version of TON at the end of January 2019, but soon the deadlines were shifted to April.
According to the team, they managed to achieve the expected results. Today, every developer can test the network.
Another significant news confirming the development status of TON is the release of the TON light client and the new Fift language.
According to unconfirmed reports, the TON blockchain is readyby 90%. Based on the team’s activity, there is still a chance that Telegram users will have access to the full version of the blockchain this year, although no new official launch date has been announced at the moment.
Is there a future for the Durov project
The project is accompanied by constant criticism from the community. Some industry experts predict that Gram is doomed to fail and its price will collapse.
The Telegram Open Network will eventually turn into a massive scam due to the fact that the Telegram management will completely control the release of new coins.
Initially, they will sell their coins at predetermined prices, the price of which will increase slightly with each coin sold.
Their employees will collect $ 2 billion from initial coin sales and will use the profit as they wish. This is clearly indicated in the white paper, ”a Reddit user writes.
Centralized currency issue is contrary to the ideafunctioning of democratic cryptocurrency. To buy coins for a project, you must at least trust its team, because ultimately the decision-making related to the future fate of Gram will remain with them. Investors are ready to give $ 2 billion for empty promises that developers can fulfill or not.
But if the platform is still running,Telegram users will gain access to cryptocurrencies, thereby opening up the possibility of global adoption of the digital space thanks to the intuitive use process.