Telegram’s Trial Version of Blockchain Platform TON To Debut This Autumn
Telegram, which offers encrypted messenger service has declared that it will unveil a trial version of its blockchain-based TON platform “this autumn,” according to news reports by Russian media outlet Vedomosti.
In this regard, investors who communicated with the media outlet has “confirmed” the veracity of a notification forwarded to the participants in TON’s Initial Coin Offering (ICO) at the beginning of September.
Telegram’s circular also states that the platform’s blockchain constituent is presently under development, with “70 percent” of the coding already finished.
Once the platform goes live, TON will utilize Gram, its in-house cryptocurrency, and establish a “new way of exchanging data.”
Telegram drew considerable attention earlier this year when it collected nearly $1.8 billion in investments for the creation of TON and its current messenger app through two phase private ICO presales.
Following successful fundraising, the executives repealed the proposed public phase of the ICO in May.
During that period, Russian media guessed that authorities’ endeavors to thwart access to Telegram overall for the country’s citizens was a consequence of the ICO and strategy to unveil Gram, rather than the official clarification that the service ridiculed data sharing laws.
CEO Pavel Durov refrained to provide a timeline of release for the release of TON.