In TON We Trust
With 200 million monthly active users and growing, and $1.7 billion raised through the private token sale offered only to qualified investors worldwide, Telegram Open Network (TON) is perfectly positioned to create the world’s first mass-adopted cryptocurrency. Using their expertise in encrypted distributed data storage to create Telegram Open Network (TON), Telegram is creating a fast and inherently scalable multi-blockchain architecture. TON has every chance to become the leading decentralized supercomputer and value transfer system. By combining ultra fast transaction time with heavy duty security, TON strives to become a VISA/Mastercard alternative for the new decentralized economy. Leveraging its existing ecosystem of communities, developers, publishers, payment providers, and merchants to drive demand and value for the TON cryptocurrency, a whole new economy teeming with goods and services sold for cryptocurrency will be born — quite similar to WeChat’s fiat-based marketplace, yet importantly, not confined to a centralized service.
Behind Telegram Open Network are the brothers Nikolai and Pavel Durov. Pavel’s entrepreneurial career started in 2006, when he launched VK, “Russia’s Facebook”. Nikolai is regarded as a mathematical and programming genius. He won several gold and silver medals in the International Mathematical Olympiad and International Olympiad in Informatics. Their team consists of 15 developers that either had to win the world’s top programming contests or take 1st place in multi-level coding competitions held by Nikolai. The TON white paper claims that the core team members have all worked at VK, and that all networking, cryptographic, and database engine software running on Telegram servers is custom-built by these developers. Telegram messenger itself is minimalist, lightweight, works flawlessly on all devices and the web, and its creators are known to strongly support privacy and freedom of speech. Telegram is an idea, says founder CEO Pavel Durov. It is “the idea that everyone on this planet has a right to be free.” Meanwhile, the biggest current internet services like Google, Facebook and Twitter often do not support privacy and true freedom of speech, selling user data to spammers, censor user opinions, and ban users for their opinions.
The four main services of TON wil include, storage via a decentralized distributed file-storage technology, with torrent-like access and smart contracts used to enforce availability. A decentralized App Store offering a searchable registry of decentralized services from its applications, providing a list of the most popular apps, as well as recommendations based on the user’s history of choices. This alone could make Telegram a gateway to blockchain-based projects for the general public, very similar to how Google Play and Microsoft’s App Store currently work for centralized applications.
TON as a Micropayment Currency via Telegram could circumvent the centralized, lengthy, and expensive process of transferring money through a bank. Ton will create an intuitive user interfaces that enable an average user to easily buy, store, and transfer value, as well as use decentralized apps in a natural way. Most ambitions is the plans for TON to create a Decentralized Web, a service for assigning human-readable names to accounts, smart contracts, services, and network nodes. With TON DNS, accessing decentralized services can be similar to viewing a website on the World Wide Web.
With 200 million users, and 84 percent of blockchain-based projects having an active Telegram community, Telegram has a perfect starting position for testing its new decentralized services in an already existing ecosystem. Telegram’s users will not have to go through a complicated process opening a new wallet and learning how to buy, store, and send their coins. Instead, the TON-Telegram wallet will instantly become their wallet within an environment that users already know and feel comfortable with. With a stellar team, innovative and edgy goals, and a massive pre existing user base, TON has a bright future before it.