Will TON & Durov be able to keep their promises?
During December 2017, at the peak of the ICO craze which swept the world of cryptocurrencies Telegram Open Network (TON) was announced. Telegram was already a popular messenger amongst the cryptocurrency community, news of an ICO sent some wild. Ton released a 23-page white paper and a 132-page technical white paper.
Unfortunately for some, TON never conducted a public sale. It was entirely funded by private accredited investors only. That did not hurt its fundraising, however. Telegram Open Network was one of the highest raising ICOs of all time, reportedly raising a whopping $1.7 B.
Telegram Open Network Close to Launch?
Telegram recently unveiled the Telegram Open Network - Blockchain Test Network. It includes information on how set up smart contracts, how to set up a full node, and how to upgrade a full node to a validator.
Telegram's TON network is expected to integrate seamlessly with Telegram's mobile app. Seeing that Telegram has over 180 million active users that will automatically receive a TON wallet, it will be a game changer. Should TON keep all of its pre-ICO promises, such as being fast, scalable, and user friendly it will be a cryptocurrency to watch. It could have the potential to rival more established blockchains, such as Ethereum, EOS, and TRON.
On the other hand, the majority of the ICOs of the 2017-2018 era have been either cash-grabs or failures. Only time will be able to tell if TON is able to keep all of its lofty promises and become a real cryptocurrency powerhouse.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado