Telegram’s blockchain-based platform TON will run “this autumn,” according to Telegram newsletter.
The developers claim they have successfully completed the development of most of the critical components and the product is already 70% finished and ready for launch.
Once in operation, TON will also make use of its in-house cryptocurrency, Gram, and will form a “new way of exchanging data.”
At the beginning of 2018, Pavel Durov’s team attracted $ 1.8 billion from investors to develop the Telegram Open Network (TON) blockchain platform. The system will use its own cryptocurrency Gram. The developers claim TON will be able to process transactions faster than Bitcoin and Ethereum and will compete with Visa and Mastercard in terms of payment speed.