By The popular encrypted messaging app Telegram has announced that it will launch its Telegram Open Network (TON) in the third quarter of 2019 as per a report from The Block, a renowned crypto and blockchain news site.
Announced via an internal memo which was sent to key investors stated that the network is set of launch later this year. Telegram reportedly said that it recently completed a successful test phase which “reaffirms our belief that the TON virtual machine and the TON … Byzantine consensus algorithm are capable of meeting the goals stated in the original white paper.”
Back in April, it was reported that Telegram had granted access to a private test version of the TON blockchain to several select developers. Furthermore, anonymous test devs stated that the network exhibited “extremely high transaction speed.”
Furthermore, the TON network will allegedly host decentralized apps (dApps), similar to that of the Ethereum blockchain.
Back in February, a rumoured purchase agreement for Telegram’s Gram Tokens which is the TON Network’s native cryptocurrency stated that contracts of this nature will become null and void if Telegram does not roll out its network by October 31st 2019.
Telegram was founded and created by Nikolai and Pavel Durov back in 2013. The brothers firm has to date nearly raised $1.7 billion via two private initial coin offerings back in 2018. Currently, the messenger platform boasts more than 200 million active users.
Lastly, back in April, the TON dev team entered into a partnership with Wirecard, a German financial services provider to develop digital financial products and services.
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