The long wait may have finally come to an end, after raising billions last year in complete silence, Telegram is revealing publicly it’s involvement with Telegram Open Network also known as TON and is expected to launch next month (view whitepaper) . TON is a blockchain network designed to be fast, secure, scalable and capable of handling millions of transactions per second. TON is a competitor of Ethereum’s smart contracts and decentralized applications while also being extremely scalable.
Recent rumors portray TON as the Ethereum (2.0) killer. While every blockchain has a native coin, in this case the native coin for Telegram is Gram tokens, or Gram coins. Gram will serve as the principle cryptocurrency for the in app economy on Telegram messaging app and will be available for external use. It’s not available for public purchase but you will have a chance to buy Gram on Liquid’s Exchange.
Telegram’s Gram has been hugely anticipated and has excited millions of people, big investors expect that Gram will become one of the largest cryptocurrencies by market capitalization and potentially the world’s most adopted cryptocurrency with the launch to over 200 million active users using the Telegram Messaging service.
Telegram and Facebook
It is very apparent that these two companies have plans to launch their own cryptocurrency and both has huge potential.
Facebook, the largest social media behemoth that operates WhatsApp and Instagram is scrambling for a 2020 launch of it’s Libra coin. Meanwhile, Telegram has attracted several and already raised over a billion dollars from institution investment firms and aims to launch TON next month.
Although both digital assets have different underlying technologies and use cases they are still in the eye of the governments.
The first Gram will be priced at $0.10 and every subsequent gram will be bought from the TON reserve and sold for one billionth more than the previous price.
