Telegram Chat App to Launch its Own Cryptocurrency

in cryptocurrency •  7 years ago 

telegram-messenger-logo-670x335.pngChat and messaging platform Telegram is the latest on the list. The native crypto that Telegram plans would power payments on its chat app and beyond, according to TechCrunch..

The website also cited sources claiming that the ‘Telegram Open Network’ (TON) will be a new third generation blockchain with superior capabilities to Bitcoin and Ethereum. Telegram is a well-established messaging platform with 180 million active monthly users, according to Wikipedia..

The public ICO sale usually attracts less as there are a lot of buyers investing smaller amounts; the pre-loading, therefore, is done to generate confidence in the token. The report claims that the pre-sale will require fiat, and a lot of it, and not Bitcoin or Ethereum, as is the case in regular ICOs..

TechCrunch reports having already viewed parts of the whitepaper that reveal that Telegram’s GRAM coin could be integrated directly into the messaging platform. Telegram could be the first to bring its own crypto to its already established platform but it certainly will not be the last, more tech and social companies are bound to follow..

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I wonder what utility the GRAM token will bring when using telegram? I mean, it's already a free service?

I think they will build new services on top of their 3rd generation blockchain. This TechCrunch article is a pretty good source to read if you want to know more about their plans. An interesting point though is that they are keeping 52% of all GRAM supply. The following is a quote from the article.

The white paper also makes clear that four percent of the supply of Grams (200 million Grams) will be reserved for Telegram’s development team with a four-year vesting period. Telegram also plans to retain “at least 52 percent” of the entire supply of the Grams cryptocurrency to protect it from speculative trading and maintain flexibility. The remaining 44 percent will be sold in both the public and private sale.

Thoughts?

Very interesting that an established company is going with crypto. Do you thing Facebook is going to try something like this?

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