Exclusive: New Report Reveals Details of Telegram’s TON Blockchain

Exclusive: New Report Reveals Details of Telegram’s TON Blockchain

 

A new report on the Telegram Open Network ( TON ) by Russian research agency Aton — published today, June 14, on Cointelegraph — reveals new details about one of the most anticipated projects in the crypto space.

TON is a blockchain platform developed by encrypted instant messaging service Telegram , which is widely regarded as one of the primary means of communication within the blockchain and crypto community.

The blockchain network reportedly aims to gain wide usage due to the active, crypto-friendly Telegram community. According to the report, TON will facilitate internal payments, host decentralized applications ( DApps ) and provide wallet services, among other things. Telegram and its TON project

Telegram was developed by Pavel Durov, a Russian entrepreneur, and his brother Nikolai, a prominent computer scientist. The brothers earlier created VK.com, one of the largest social networks in Eastern Europe. Eventually, they fled their home country to become citizens of Saint Kitts and Nevis, an island country in the West Indies.

TON famously saw one of the biggest — albeit private — initial coin offerings ( ICO ) in the crypto industry. In 2018, Telegram raised almost $1.7 billion in two private token sale rounds. It is second only to EOS’ record-breaking $4 billion ICO — however, it is worth noting that TON’s offering wasn’t extended to the public due to evident regulatory complications.

According to rumors in Russian media, local billionaire and former owner of Chelsea football club Roman Abramovich might have invested in the project. Nevertheless, only […]