Altcoin News: Launch of the Telegram Open Network is Possible in March
Yesterday, the network did not receive officially confirmed information that was allegedly provided by one of the investors in the Telegram Open Network project (TON). Sources claim that the submitted document contains actual data on the readiness of the project.
At the very beginning of the document, the approximate start-up period for the finished network TON is indicated — March of the current year. Previously it was assumed that the launch will take place at the end of January, however, expectations did not materialize due to the fact that “the company took more time to create additional algorithms.”
According to the document, the developers estimate the overall project readiness at 90%. Note that in September was specified a figure of 70%. The TON virtual machine is 95% ready, both in the context of implementation and in terms of document preparation. In September, indicated the same numbers.
“TVM successfully passed the test in closed mode. Most likely, it will take a little more time to finalize the process of linking TVM with software for generating and validating blocks in the TON blockchain.”
It is alleged that work has been completed on the CATCHAIN protocol, which is part of the TON network. It is used to implement mechanisms for ensuring a general agreement between validators on the principle of the Byzantine agreement (BFT). Work on streaming protocols has also been completed.
Note that in September, the availability of these components was 90% and 95%, respectively. We also managed to achieve strong progress in preparing the block management library, due to which whole blocks and their parts will be saved to files. They will be available for download and for modification of various data structures presented in the block. In September, the readiness of libraries was 30%, now it is 95%. The validator software, which will be used for validating validators and reaching agreement on the creation of blocks, is 60% ready (previously, the figure was 10%). The full node client used to store the local copy of the blockchain and transfer it to other network members is currently in active development. Readiness is already 80%.
There are also components that still have hard work to do. For example, basic smart contracts and their samples are only 20% ready. Development, testing and debugging of the smart contract environment is 50% ready. Such a difficult and lengthy process of developing smart contracts is due to the lack of a high-level language compiler to work with them. However, in another document, dated January 28, it is noted that the development and launch of a test network with the support of the simplest smart contracts are now in priority.
“Replacing the basic versions of smart contracts with more advanced variations is planned during the network testing process,” the publication notes.
It is expected that the first investors will see the test network already at the end of this month. Developers will have access to closed testing at the beginning of March in order to detect all the bugs and propose various solutions. The general public will see the network at the end of March.
It should be noted that any information on the development of the TON project still comes from anonymous sources and has never been officially confirmed either by Pavel Durov himself or by Telegram representatives. Periodically, there are various rumors about the early launch of the network, listing of GRAM tokens on various exchanges and offers to invest in the project. Most of these claims come from scammers or rumors.
As a typical example, one can cite the widespread information about the presentation of the TON project, which Pavel Durov allegedly planned to hold at the World Economic Forum in Davos in early February. However, the fake news was not confirmed by any authoritative source and no presentation, of course, did not take place. Therefore, any investment proposals in TON or GRAM tokens prior to the official announcement of the launch of the network should be considered fraud.
Author: Marko Vidrih
Image credit: Shutterstock/Mike Trukhachev