Telegram Open Network (TON), a highly anticipated new blockchain platform, is going to be released in 2019.
New information unveils that TON is currently 90 percent ready for the market.
Reportedly, the TON blockchain and its cryptocurrency GRAM will be officially released somewhere along the first half of 2019.
TON is the creation of the brothers Nikolai and Pavel Durov, the founders of Telegram Messenger and very prominent names in the cryptocurrency world.
Due to Telegram’s popularity, the blockchain platform garnered $1.7 billion in two presale Initial Coin Offerings (ICOs) last year, without launching an ICO.
Delays in the Development
Russian newsletter The Bell reveals that investors of TON obtained information that the project is slated to be released to the public in March.
TON should have been fully developed by now but had previously experienced some issues and impediments in its final stages of development.
Unknown sources familiar with the work of the team behind this blockchain also told The Bell about a meeting planned within the next month with the investors of the project.
Telegram’s cryptocurrency wallet was thought to be finished and launched in the last quarter of 2018, but the platform got held back from release.
According to the September’s newsletter sent by Telegram’s team to the investors in the project, the platform should have been ready late-autumn 2018. In mid-October 2018, it was the Russian business newspaper Vedomosti that revealed that the blockchain is 70 percent developed with some of the most critical parts done.
The deadline has since been prolonged.
Now, the Telegram Open Network platform is expected to be initially launched in March, according to The Bell.
The Controversy Behind Telegram
Telegram Messenger is considered to be one of the most secure messaging applications on the market, hence its popularity.
With over 200 million active monthly users, for the time being, it comes as no surprise that Telegram Open Network caught the intention of hundreds of investors, which allowed the project to accumulate $1.7 billion in only two presale ICOs.
The total sum came pretty close to the aimed number of $2 billion.
With all 200 million Telegram users being promised a TON wallet after the project is completed and released, this cryptocurrency is expected to become the most adopted digital asset in the world.
Another thing that caught the likings of investors is Telegram’s focus on privacy and security.
The app itself is for many controversial due to its encryption, strong security and government resistance. Telegram Open Network is aiming for the same security policies.
The messaging application has already been banned in some countries around the world and is on the blacklist of others.
Is TON the Blockchain of the Future?
Telegram Open Network generated an enormous amount of hype in 2018 and was something that was widely talked about by the crypto community.
According to the TON whitepaper, the cryptocurrency that will be based on this blockchain system is expected to bring a brand new wave of improved digital coins and decentralized applications. The idea is to make a fast cryptocurrency that will allow millions of transactions per second.
Bitcoin currently allows up to seven transactions per second, on average.
Apart from that, the focus is largely put on simplicity in all sorts of transactions, and security through end-to-end encryption.
Everyone that uses Telegram will get their own cryptocurrency wallet, with encryption keys known only to the owners.
This will allow millions of people to store their funds on the soon-to-be blockchain.
Many people believe that this could be the future of cryptocurrency and blockchain technology.
However, while it does sound promising, it remains to be seen how it’s going to be accepted around the world.