The social media platform, Telegram will make its users able to give donations and make payments for their subscriptions in cryptocurrency Toncoin. Moreover, according to a blog post of Telegram’s Open Network community (TON), the channel administrators are going to be able to accumulate their income in the same cryptocurrency.
Moreover, the blockchain protocol stated on its official Telegram handle,
“TON Community is proud to announce that the TON blockchain and Donate, a Telegram-verified payments service, have become official partners.”
Now, talking about this recent development, this development arrives with Telegram CEO and co-founder Parel Durov disclosing that the Telegram Open Network (TON) blockchain technology is yet to be developed following the organization formerly abandoning the project the previous year.
According to a Telegram article of Durov,
“I am proud that the technology we have created is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain space.”
It is important to mention that Telegram intended to examine Web3 with suburbanized storage the previous year, and this project was entitled Telegram Open Network blockchain.
Nevertheless, the project was rejected after it ran into contention with the United States Securities and Exchange Commission blaming Telegram for breach of the securities act. As per the statement given by Durov, the project had shifted from TON to Toncoin. The latest project is independent of Telegram, dissimilar to the original TON.
Furthermore, Durov stated,
“When Telegram said goodbye to TON last year, I expressed the hope that future generations of developers would one day carry on with our vision of a mass-market blockchain platform…So I was inspired to see the champions of Telegram’s coding contests continue developing the open TON project, which they rebranded to Toncoin…I’m proud that the technology we created is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain realm. It would have been a shame to see this project not benefiting humanity.”
At the same time, all the Meta-owned platforms, including WhatsApp, also experienced the same response from legislators and supervisors, retaining its cryptocurrency Libra which is currently renamed to Diem project bound from releasing considering it was invented.
