Telegram to launch own token and blockchain platform in March 2019

January 24, 2019
Chris Wheal

Telegram announced the launch of their own token and main blockchain system in March 2019.

The main net, called “Telegram Open Network (TON),” will allow people to transmit information to others in a new way. TON will use the company’s existing cryptocurrency, “Gram.”

To raise money for the new system, the company hosted two ICO events, which allowed them to raise more than $1.7 billion. There was supposed to be a third ICO event in late Dec. 2018, but the first two were so successful that Telegram canceled the third one.

Telegram has been receiving a lot of pushback from both Iran and Russia; both of whom have placed blocks and bans on the messaging app.

Russia blocked Telegram’s platform in April 2018 because the founder and CEO of the app, Pavel Durov, refuses to share the app’s encryption codes, which Russia considers a violation of the local Telecom compliance laws. At the time of Russia’s Telegram block, there were roughly 10 million Russian users on the network.

Additionally, in April 2018, Iran placed a series of blocks and restrictions on the app. The government announced that cooperating with Telegram “is a threat to Iran’s national security.”

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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