Platform for exchange of encrypted messages Telegram, which is operated by Vkontakte founder Pavel Durov, plans to launch its own blockchain-based platform and cryptocurrency, adding the option to make payments in your application for catinga and beyond. According to multiple sources, which refers to TechCrunch, “Telegram Open Network” (TON) is the new bloccano “third generation” with a great potential after Bitcoin and Ethereum.
The launch will be financed by a huge ICO to hundreds of millions of dollars. Most likely it will be the largest ICO (“initial offer of coins”) in the history of modern cryptocurrencies. The demand is due to the fact that the ICO conducts a well-established startup Telegram with a good reputation and a large number of users around the world.
The adoption of the home cryptocurrency can give the payment system Telegram independence from any government or Bank. It is known that Pavel Durov is committed to this after investors took his social network VK.
The potential of cryptocurrencies in widespread application for messaging is huge.
With translations in Telegram users will be able to transfer funds across international boundaries, to deliver the money personally, by encrypting the application to bypass the fee payment systems and much more. Telegram already has become the de facto channel of communication for the global crypto community, so the issue of its own cryptocurrency suggests itself.
I suppose that Telegram to raise approximately $ 500 million to ICO, and the total cost of the token will be in the range of 3-5 billion dollars. However, these numbers may change before and after the ICO, to be held in March. After Tezos this will be the largest fundraising in the cryptocurrency Tezos attracted more than 230 million in July.
Pre-sale to ICO is the minimum investment attraction (sometimes discounts) to attract major investors (whales) to more General sale to retail investors. The public, or the retail phase of the ICO, as a rule, attracts less because people are investing small amounts. But preloading ICO institutional Investicii inspires confidence to retail investors.
From first investors may require a minimal input in the amount of $ 20 million, if they are outside the inner circle. Sources report that the ICO will require real currency such as US dollars, to enter and not bitcoin or ether, as do the other ICO.
To the future the ICO expressed interest in large investment companies of the highest level, but the film cautiously take their cash.
Telegram Open Network
The idea Durov to start a whole new blockchain, using 180 million users to Telegram start, Telegram will automatically make the king of cryptocurrencies. Cryptocurrency will be called “gram” (or “gram”) and should instantly attract the approval of the application users.
Sources report that the actor decided to combine centralized and decentralized infrastructure, as a fully decentralized network scales as fast as the network elements of centralization, so the Telegram must have their own blockchain.
The shift to decentralized blockchain-the platform can kill two birds with one stone. In addition to creating a full-fledged cryptocurrency economy in application, it also isolates your network from attacks and accusations of individual States. Telegram have to find a middle ground to give its users in Iran, the anonymity and remain transparent to the government.
With a TON Telegram intends to develop cryptocurrency applications, the type WeChat in China. The system remains centralized, but allows for quick payments in various services. A decentralized platform like TON can provide more security and assurance.
Sources report that Telegram will allow users to store in purse as Fiat currency and cryptocurrency Telegram.
In its 132-page document Telegram lays out a plan in four stages:
- TON Services will become a platform for third-party services that will run on a smartphone, like user-friendly interfaces for decentralized applications and so-called smart contracts.
- TON DNS will be the service that provides to human readable names, accounts, services, smart contracts and network nodes. With a TON of DNS access decentralized services will be similar to “viewing web sites on the world wide web”.
- TON Payments will become a platform for micropayments and micropayments. It will provide “instant transmission of values outside the chain of the blockchain between your bots and other services”. The fuses built in, will ensure that these transfers were as safe as any transaction on the chain of the blockchain.
- TON Blockchain will consist of a main chain and 292 related blockchains. Its most interesting aspect would be Infinite Sharding Paradigm, which will provide scalability. Blackany TON will “automatically share and merge to change the load.” That is, the new blocks will be generated quickly, and the lack of long lines will help to reduce transaction costs, even if some of the services on the platform will be massively popular.
Also the platform will enable Instant Hypercube Routing, so that the blockchain can maintain the maximum speed even during growth.
4% “grams” (200 million) will be reserved for team Telegram and issued in a four-year period. Telegram also plans to hold at least 52% of the total stock of cryptocurrencies to protect it from speculative trading and to maintain flexibility. The remaining 44% will be sold at public or private auction.
Cryptocurrency to be traded on foreign exchanges and used in the application.
In the first quarter of this year is expected to release TON and the launch of Telegram External Secure ID. Run Telegram Wallet will be held in the fourth quarter of 2018, and the creation of the economy based on TON — in the 1st quarter of 2019. Other services will follow in TON 2nd quarter of 2019.
Jackson Palmer, the founder of one of the first cryptocurrency Dogecoin, believes that this is just an attempt to raise money and monetize Telegram.