At the end of last year, people started talking on the Internet that Pavel Durov, the creator of the social network VKontakte and the Telegram messenger, the billionaire and the fighter against the system, decided to hold an ICO. That is, create your own cryptocurrency. In the crypto community, we are sure that this ICO will become the loudest and most ambitious in the whole history, and the new coin will come out so steep that it will force out even Bitcoin!
Where does infa come from?
It all started with the post of ex-Telegram employee Anton Rosenberg on Facebook. Rosenberg wrote that Durov wants to create his own cryptocurrency on the basis of the messenger. Why is it needed? It all comes down to the monetization of Telegram. Durov promised that the messenger will remain free, but how to get money? Eureka! Create a cryptocurrency that will circulate within the Telegram.
The main audience of Telegram is Iran, isolated from the world by Western sanctions and cut off from international payment systems, and Uzbekistan, where the foreign exchange market is not developed at all. In theory, for users of these countries, the Durov coin will be the beginning of a new era.
Also, a video appeared in the network, where the colors describe what the Telegram Open Network is – a third-generation multi-level blockchain with TON wallet and GRAM tokens.
What do the media write?
Rosenberg’s post and the video launched a wave of publications in the media. With reference to the “sources”, it was reported that Telegram wants to raise 500 million dollars only at the first stage of the sale of tokens, and further increase the capitalization to 3-5 billion more OMG!
A little later, Vedomosti wrote that the plans had changed – now, at the first stage, they will attract $ 850 million. The hype rose unheard of. At the end of January, the figure of the estimated investment has already reached $ 3.8 billion, according to Vedomosti.
Who can buy tokens?
First of all, the tokens will be received by Durov’s environment. Then – all the rest. The minimum amount for the purchase of tokens in the framework of the preliminary collection of $ 20 million, and in normal money, but not in the crypt. At least 4% of tokens will go to the development team, 52% will remain at the “top” to protect the system from speculation, and 44% will be given away for sale.
Yes, such a distribution of money is somehow not very well combined with the ideals of decentralization, but investors do not care. Well, really, it is unlikely that Durov and Co. will want to withdraw all the money from the system at once, because then everything will break.
And when will everything start?
They wrote that first there will be a launch of a secure identification system Telegram External Secure ID. It is scheduled for the first quarter of this year. Then the Telegram Wallet will go – this is the fourth quarter of 2018. The activation of the Telegram Open Network with its own economy should take place in the first quarter of 2019, and the final deployment of the network with basic services – in 2021.
And you can detail about TON?
In early January, a memorandum, the whitepaper, of the Telegram Open Nerwork project was leaked to the Internet . On 132 pages, the authors explain for the third generation blockchain and new miners. Everything is very difficult!
The authors of the memorandum begin by saying that although there are many cryptocurrencies, none of them are suitable for real life. Firstly, they are slower than international payment systems VISA and MasterCard. Secondly, they are inconvenient to use. Thirdly, they are not interesting to ordinary people – only to investors.
The creators of TON will change all that. They figured out how to make transactions instantaneous and they already have 200 million active Telegram users, each of whom will receive a friendly TON wallet. Bingo! And everything will be done so smoothly that the 200 million people will not even notice how a new technology has appeared in their lives. So Telegram will create its own economy, independent of the state economies.
TON will be based on a scalable flexible blockchain architecture — the main blockchain network plus a few hundred extra. Depending on the load, the network will be able to share and spread further.
The transactions between blockchains will follow the hypercube model, and therefore, no matter how much the system grows, the speed will remain high. They promise 1 million operations per second. For comparison, the Bitcoin network processes only seven transactions per second, and centralized VISA – seven thousand only in the USA.
In case of errors, TON will be protected by a self-healing mechanism – it will be able to create new blocks on top of those that turned out to be erroneous. Thus it is planned to get rid of forks, that is, forks.
On the TON platform, they want to implement several services: an advertising exchange, data storage, VPN, DNS and, most importantly, a payment system in which the GRAM coin will be used to pay for services and content within the network.
Also on the basis of TON you can create your own interfaces for decentralized applications and smart contracts.
Telegram plans to earn money through commissions and GRAM exchange rate growth.
The miners at TON were called “validators.” For mining, you need three things: a powerful server, fast Internet and a solid account in “grams”. An account is needed, because TON will work on the principle of Proof-of-Stake, that is, the creator of the new unit will be selected on the basis of its share in the total currency. Every month, validators change.
Actually, that’s all.
And what about Durov?
In general, everything said above is nothing more than rumors, leaks and insiders. Although, probably, planned by cunning telegrammers Telegram. Durov himself has so far said two things:
- He will start earning a Telegram in 2018;
- All information is only on the official website.
Everything. Even the authenticity of the video is not confirmed.
But fraudsters, meanwhile, do not sleep, and actively use HYIP. Smart businessmen are already offering trustful investors to buy Telegram coins.
For example, on the scam site https://ton-ico.net/ they sell 1 GRM at a price of 0.1 USD, although the guys only accept payment on the air. Also, YObit is already trading some kind of fake GRAM – the coin is in general dead, and sometimes pamper teams throw it up, luring gullible stockbrokers.
Durov calls not to be kept on the scam and report about him, where the trace. Namely, on the @notoscam account in Telegram.
Okay, I want to buy, but I do not have 20 million. What should I do?
Simple, poor people can also participate in the primary stage of the ICO and buy tokens on the cheap. They gather in pools, and when Telegram rolls out an official press release, they will act as a single investor. I will not advertise the guys, you can make your own opinion about the pool by finding them in Google and in Telegram – they have their own channel and chat.
Of course, there are swindlers in the area of these collective investments. Therefore, so that you are not swindled, make sure that the pool guarantees a waste of money for its intended purpose. The most reliable is a smart contract in open access. Less reliable – a guarantor-person who has something to lose.
There is also an option not to get into a fever, but to buy tokens later, when they are available to everyone on crypto-countertops, even if it is more expensive than at the first stage. Early investors bought GRAM for $ 0.3, but in the future the price will rise from $ 1.45 to $ 3.5, Vedomosti reports, citing an interlocutor familiar with the situation. But it’s not scary, because if the project is fit and everything goes as planned, then you will get your “X’s”.
So, we are waiting for what will happen with the Telegram Open Network further!