What is Telegram’s TON Blockchain?

Telegram’s TON blockchain that users were waiting for, according to the official statement is expected to be released on October 31. The most important reason for Telegram to use “Blockchain” technology is to release gram cryptocurrency and have a share of the cryptocurrency market such as bitcoin.

Telegram is looking to increase retail sales this messenger by up to 500 million dollars but we have to wait and see how successful this project is.

What Is The Open Network and Toncoin?

According to Telegram’s official website, the “blockchain” platform was Originally known as the Telegram Open Network. Due to a complaint by the US Securities and Exchange Commission (SEC), Telegram was forced to abandon its blockchain project in October 2019. For this reason, the project was renamed The Open Network (TON).

The project is designed to manage millions of transactions every second in a faster, secure, and scalable manner. This technology is similar to the “blockchain” that is used in Bitcoin with some advancements in speed and accuracy.

If the TON project succeeds, the background will be key to realizing plans. The gram cryptocurrency on the blockchain network will be available for purchase and sale by users.

Moving Towards Toncoin (TON)

Telegram wants an impenetrable user interface that supports the unique currency. Telegram’s TON blockchain has a database that is not located in a specific location. It is distributed on all computers that are connected to the network! Gram was initially distributed through a private sale. The project broke the record for the second-largest token sale in history.

Toncoin (TON) is a decentralized layer-1 blockchain developed in 2018 by the encrypted messaging platform Telegram. Toncoin, formerly known as Gram, is The Open Network’s (TON) native cryptocurrency. It aims to become a fast, secure, and scalable network capable of handling millions of transactions per second at minimum transaction costs.

When we go over the historical value of the Toncoin (TON) cryptocurrency, the cryptocurrency had its 90-day low at $1.33, with its 90-day high at $2.86. However, Toncoin (TON) is a strong project. That is relatively new in the blockchain space and has a high level of development and appeal to investors and traders. As of January 29, 2023, this cryptocurrency has a market capitalization of $3,035,372,300 and is ranked #25 of the top 100 cryptocurrencies by market cap size.

This video has just been released on YouTube. That shows the experience of working with Telegram digital currency called “Gram” and “TON” networks.

Telegram has not yet validated this video. take a look at this attractive video:

Last Word

Today, We have gone over just about the Toncoin (TON), which is a cryptocurrency. That is used across the Open Network and aims to streamline cryptocurrency payments directly on the Telegram platform. The Open Network is a community-driven blockchain with a flexible architecture that focuses on serving the common consumer.

Telegram blockchain will have many capabilities such as fast and cheap transactions, as well as smart contract execution, and decentralized application development.

To trust the Telegram blockchain system, we have to ask: is Telegram secure? The answer is yes.

Telegram is one of the most secure messengers in the world that uses End-to-end encryption to transfer data between users.