Ton abbreviation stands for Telegram Open Network, however, by 2021 in the title will be only the last two words. By that time the app should become much more than a regular platform for the messaging. According to the project developers, Telegrams will get functions of wallet for storing cryptocurrency Gram, without losing its former functions. In the future, the service will allow you to store other currencies.
A similar story was observed earlier with another popular WeChat project, which managed to integrate the NEM cryptocurrency and attracted funds for its own development. Telegram doesn’t have own advertising, so the launch of the cryptocurrency is able to solve this problem. In addition, the use of tokens will not depend on advertisers and creditors.
How to purchase Gram coins?
Currently, cryptocurrency is being developed, so it is not yet available for purchasing on crypto-exchanges. The only way to purchase is to participate in the initial coin offering, especially Pavel. Durov’s project promises to break the current records in the scale for all the time of the existence of digital currencies – hundreds of millions of users intend to participate in ICO from Telegrams.
In Comparison with similar projects, Telegram has a tremendous support of 200 million users. There is the attention of large investors to all Durov’s undertakings, that gives us hope to overcome the record indicators of FileCoin. They were recorded in September 2017, when the organizers of the ICO attracted $ 257 million.
Now Durov intends to attract $ 1.5 billion only by funds of large investors in the course of pre-IPO. The total income of the ICO could reach a record 4.5 billion dollars.
What are advantages of TON?
There is already exist White Paper, which allows you to create an objective knowledge of the platform and its main advantages. These include:
- The highest speed of financial transactions (according to White Paper – up to 1 million transactions per second);
- Possibility to use the platform for implementation of smart contracts;
- Support for decentralized applications.
In addition, the launch of the cryptocurrency gives Telegrams banking functions. In the accounts application, you can store the corporate cryptocurrency, and subsequently other cryptocurrencies. As the result Telegram will not be dependent on the policy of the advertisers and the position of creditors.
What are the opportunities of Gram cryptocurrency?
- Making transfers and small payments;
- Purchase of goods or services through automated software;
- Financial support for channel creators;
- Payments for decentralized data placement;
- Pay for subscriptions and use of content;
- Payment for placement of deposits and financial transactions;
- The payments for the domain registration of digital currencies required for internal system names.
- Payments for overcoming of locks.
Mining Gram (TON) methods
Mining process Telegram (TON) is disclosed in the content of an unofficial document posted in Telegram channels signed by Durov himself. It States that the role of miners in the system will be played by” validators ” who will be able to form and confirm new blocks of the chain. To purchase this status, you will need a fast Internet connection and deposit to your account using cryptocurrency. Regardless, TON technology will be cheaper than the use of devices with ASIC chips for bitcoin mining.
Planned that the “new miners” will be recruited monthly, and their number will be limited to 1 thousand people. In case of signing an incorrect block, the validator will lose its deposit.
As illustrated by one of the developers of Telegram, it is planned to integrate in the wallet the reduced functionality of mining, which will reward the most active users. Durov said that the system will be built on technology of “light wallet” that will eliminate the need for having huge computing power.