Telegram ICO & Token Sale
Exclusive: Encrypted Chat Platform Telegram to Launch Blockchain Platform
Telegram is a very popular encrypted messaging app which caught a lot of speed in 2017 due to its responsiveness, security and simple user interface. The company is now looking to launch its own comprehensive Blockchain platform and an associated cryptocurrency, according to reliable sources with serious familiarity with the matter. The reports surfaced from Anton Rozenberg who is a former employee of the publishing division of the company.
The new platform is to be dubbed either “Telegram Open Network” or “The Open Network” (TON). As reported in TechCrunch the ICO aims to raise up to about $500 million in private sales. The expected subsequent public distribution phase is conveniently expected to drive the value of the TON token between $3 and $5 billion. This would surely make Telegram’s ICO the largest one to have ever been launch.
Supposedly, the currency shall carry the name “Gram” and the platform is to be integrated with the majority of the most popular messaging applications. However, names of said applications are yet to be disclosed.
Further information reveals that the intended blockchain shall be 3rd-generation as well as proof-of-stake based one. This means that it’s not going to rely on mining to create its currency as the blockchain of Bitcoin does. The intent is to create $5 billion worth of Grams, 4% of which (apprx. $200 million) is supposed to be locked for the development team. Additionally, 52% of the tokens shall be held by the company itself in order to regulate the overall number of tokens which are in circulation at any given moment.
It’s also known that the platform is supposedly going to use light wallets, which will render the necessity of downloading a large blockchain mute. The ICO could be scheduled for as soon as March, according to the report cited above.
Telegram is a comprehensive as well as very simple to use cloud-based messaging app which enables users to exchange messages as well as media files. The main difference between and WhatsApp is the strict and definitive emphasis which is placed on privacy – users are able to have conversation in “secret chats”. The app was launched back in 2013 and as of December, 2018, it had approximately 180 million users. It is also accounting for about 40% of the internet traffic in Iran until it got blocked by the Iranian leadership last week.