Telegram (TON) ICO Review – ICO Token News
Bitcoin is known as digital gold, and Ethereum has also risen as a robust platform for rolling out a number of token crowd sales. Nevertheless, there is currently no standardized cryptocoin that can be used as a conventional exchange of value by average people. That is why there is a need to build a blockchain ecosystem that should be decentralized and also function as robustly as daily money. In short, there is a need to build a cryptocurrency that can appeal to mass consumers.
Regardless of its revolutionary potential, blockchain technology still lacks the qualities needed to lure mass consumers. For example, the existing blockchain-based products and technologies are too complicated. In addition, more and more products and services available in the market cannot be bought with cryptocurrencies. As a result, these digital coins are yet to see mass adoption.
Enter Telegram, which is also known as TON—an acronym that stands for Telegram Open Network. This platform is designed to provide the speed and scalability needed by a blockchain network to reach the mainstream.
Telegram (TON) ICO analysis
TON, or Telegram, is the ecosystem that will be built to streamline the exchange of information and value. This network will be programmed to touch the lives of the masses and result in mainstream adoption. In order to establish the first-ever mass-market cryptocoin, this ecosystem will first achieve the desired speed, scalability, and user base.
As a fast, scalable multi-blockchain architecture, TON is a decentralized and robust supercomputer transferring high volumes of information or value. As TON will achieve maximum security with minimum transactional time, this ecosystem is poised to become a Mastercard/VISA alternative that will create a decentralized economy.
One of the biggest shortcomings with existing blockchain architectures is complexity. Which is why TON is engineered to have its own user-friendly user interfaces (UIs). With the help of intuitive UIs, the platform can develop lightweight wallets, identification services, and exchanges allowing the users to easily jump on the cryptocurrency bandwagon.
However, a mass-market cryptocoin needs a very wide user base. Thanks to its Telegram application, TON will leverage the popular messaging app’s existing network of developers, publishers, communities, merchants, and payment providers. By doing so, the network will definitely push the value and demand of its native cryptocoin.
That is how the developers behind this blockchain-based ecosystem are envisioning a fresh saturated economy where services and goods will be sold for cryptocoins. That is how TON will rise as a next-gen ecosystem where innovative decentralized applications (DApps) will be hosted.
Like other ICO projects such as Gamblica, Alttex, THEFANDOME, TokenLend, CryptoLoans, Omnitude, Ternio, Dentix, TON is driven by fresh concepts that will increase the real-world applications of cryptocurrencies.
Here are a few points highlighting the innovation that TON is bringing to the crypto table.
Noteworthy design choices
At TON blockchain’s core is a flexible architecture that includes a robust master chain, which is accompanied by close to 292 blockchains. With the presence of so many accompanying blockchains, TON finds it simple and quick to process a million transactions every second.
Features of TON blockchain include:
- Infinite sharding paradigm: To reach the peak of scalability, TON supports sharding. The blockchains available in this ecosystem are split and merged to accommodate any change in the available load. Because of this split and merge, new blocks can be quickly generated on the chain. The splitting and merging also keeps the total transactions costs to an all-time low.
- Instant hypercube routing: By leveraging smart routing mechanisms, this ecosystem ensures that the transactions between two blockchains will be processed swiftly, irrespective of the system’s size. Furthermore, the total time required for passing value and information between two or more accompanying blockchains grows logarithmically along with their number. So, if the volume of the information or value increases, the chains will be able to communicate at a greater pace.
- 2-D distributed ledgers: This platform has the ability to grow valid, fresh blocks over incorrect ones. By doing so, this ecosystem successfully prevents the creation of unnecessary forks. This self-healing mechanism lets the blockchain guarantee that no valid transactions are ever discarded because of unrelated errors and helps the network save a lot of resources as well.
- Proof-of-stake approach: By sticking with the proof-of-stake approach, the TON ecosystem can simply channel the computing power of all the participating nodes to manage smart contracts and handle transactions. Because of this move, the network can easily and considerably improve its efficiency and speed.
Flexibility comes with the blockchain
As a multi-blockchain project (similar to other ICO tokens such as Enlte, Adblurb, BlockFood, BunnyToken, CryptoLoans, Omnitude, Ternio, Adblurb, TON needs several sophisticated protocols to boost its efficiency by a wide margin. Once the network’s core blockchain is fully prepared, the following aspects are the most important components or protocols that are scheduled to be released to make the platform more powerful and sturdy.
- TON Storage: The network provides a distributed, sophisticated file-storage technology that can be accessed by the TON P2P network. This technology is available for managing and storing arbitrary files. Also, smart contracts and torrent-like technology are used to enforce the system’s availability.
- TON Proxy: As a credible network anonymizer/proxy layer, TON Proxy successfully hides the identities of IP addresses of multiple participating nodes. Just like the Invisible Internet Project, this layer can be used to develop decentralized VPNs and other blockchain-based alternatives for protecting online privacy and achieving complete anonymity.
- TON Payments: TON ecosystem will place itself as a platform allowing micropayments. Put simply, this is one robust micropayment channel network that may be used for transferring off-chain value between bots, service/product providers, and users instantly. Also, the TON payment module has a number of safeguards to make sure that these transfers are as secure as any on-chain transaction.
- TON DNS: With TON DNS, it becomes super simple to assign any human-readable names for smart contracts, accounts, network nodes, and services. This component of the ecosystem will simplify the process of accessing different decentralized services. In short, this component will make the process of accessing decentralized services as simple as viewing a site on the internet.
- TON Services: With this module, the ecosystem will easily provide a sturdy platform that can host various third-party services. This ecosystem easily provides a range of friendly UIs that can be used by different DApps and smart contracts. This module will surely make the browsing experience a breeze.
Once TON is integrated with Telegram, a clear path is opened for millions to adopt cryptocurrencies and interact with them every day. By bringing the capabilities of Telegram to TON, the latter will become more feature-rich. For starters, this integration will let the ecosystem leverage the massive user base of the chat app.
For instance, TON will be building its own lightweight wallets that will be integrated right at the heart of Telegram. By doing so, the users of the chat app can easily transfer value or information without relying on any third-party resources. Furthermore, Telegram will offer a range of streamlined interfaces for TON.
TON token sale
Apart from being used for buying physical and digital assets within Telegram, TON coins are meant to perform any of the following tasks.
- These tokens can be used as a commission given to all TON nodes for processing smart contracts and transactions.
- A token can be used as capital given to the nodes so that they can be eligible for validating different transactions and generating new coins and blocks.
- The tokens can be even used as a payment given to TON Proxy for hiding user identities.
These are just a few cases where these tokens can be used.
- Ticker: GRAM
- Token generation cap: 5,000,000,000 GRAM
- Tokens exchange: 1 GRAM = USD0.1000
- Accepted payment methods: ETH and BTC
- Token standard: ERC20
- Pre-ICO: January 2018
- ICO: February–March
- 52% Development
- 44% ICO
- 4% Team
The crypto network is backed by a team of developers with rich experience in building the most scalable projects. The team has put all the networking, database, and cryptographic applications over thousands of customized servers. Put simply, this team has what it takes to make sure that the ecosystem will achieve its mission.
TON looks promising because it is solving all the major problems that are faced by every other cryptocurrency today. As a result, this ecosystem and its tokens has potential to provide excellent returns in the coming time.
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- 108.2013Launch of Telegram Messenger and the Telegram API
- 204.2015Launch of the Bot API and Platform
- 304.2017Launch of the Payments Platform
- 406.2017Start of the development of TON
- 501.2018Launch of Telegram External Secure ID
- 604.2018Launch of the Minimal Viable Test Network of TON
- 707.2018Testing and security audits of TON
- 811.2018Deployment of the stable version of TON
- 912.2018Launch of Telegram Wallet
- 1002.2019Creation of TON-based economy in Telegram
- 1105.2019Launch of TON Services, TON Storage, and TON Proxy