March Awaits the Launch of Telegram’s Blockchain Platform- ‘TON’

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As per the reports obtained from Cointelegraph, the very popular messaging application- ‘Telegram’ is thinking to launch its own blockchain platform called- TON. TON stands for Telegram Open Network. Telegram is planning to pan out the platform in March this year. On 23rd Jan, the CEO- Pavel Durov told Cointelegraph. Although, the exact date is yet to be revealed the March stays an approximate tentative time of release. This platform targets to offer a ‘new way of exchanging data.’ It will be powered by Telegram’s native cryptocurrency- ‘Gram.’

Telegram with more than 200 Million active users on a monthly basis, has made its place in the top 10 most famous messaging applications on the international scale. Last year, the app managed to raise 1.7 Billion dollars in two private initial coin offering rounds. The funds were raised for Telegram as well as TON.

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If we look at the reports from ‘The Bell’ (a Russian business media source), then it was revealed by Durov’s team that ‘TON is 90 percent ready.’ Although it was mentioned that there is still a scope of any possible delays, which renders the release date as tentative.

By far publically two investors have confirmed their investments into this project. They are- the co-founder of payment service Qiwi- Sergei Solonin, and the co-founder of a dairy giant- Wimn- Bill- Dann- ‘David Yakobashvili.’

Last year Telegram had to face strict bans from Iran. The country’s government increased restrictions on the app when it declared that any support for ‘Gram’ would be considered ‘an act against national security and a disruption to the national economy,’ as per the reports from Cointelegraph.

Russia too gave a hard time to the app since April of last year, when the Durov denied to give out the encryption keys to the Russian authorities, which complied with the telecom law of the country.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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