{"id":123047,"date":"2018-01-21T12:11:29","date_gmt":"2018-01-21T10:11:29","guid":{"rendered":"https:\/\/mygaming.co.za\/news\/?p=123047"},"modified":"2018-01-21T12:11:29","modified_gmt":"2018-01-21T10:11:29","slug":"telegram-open-network-cryptocurrency-everything-you-need-to-know","status":"publish","type":"post","link":"https:\/\/mygaming.co.za\/news\/business\/123047-telegram-open-network-cryptocurrency-everything-you-need-to-know","title":{"rendered":"Telegram Open Network cryptocurrency \u2014 everything you need to know"},"content":{"rendered":"<p>Telegram <strong><a href=\"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/244264-telegram-plans-1-2-billion-ico-for-chat-cryptocurrency.html\" target=\"_blank\" rel=\"noopener\">recently announced<\/a><\/strong>\u00a0it would launch an ICO for its blockchain platform.<\/p>\n<p>The blockchain- Telegram Open Network (TON) \u2013 will feature a cryptocurrency called Grams.<\/p>\n<p>TON aims to deliver a fast, scalable blockchain with support for decentralised applications, distributed file storage, and micropayments.<\/p>\n<p>Telegram aims to raise $1.2 billion from its ICO, where it will distribute Grams to investors following the launch of its wallet.<\/p>\n<h3 class=\"my-4\">TON blockchain<\/h3>\n<p>TON is an ambitious project which is more than a cryptocurrency integrating within the Telegram app.<\/p>\n<p>In its whitepaper for TON, Telegram outlined the focusses of the blockchain\u2019s development and showed that it plans for TON to be a powerful and versatile platform.<\/p>\n<p>The blockchain will focus on decentralised applications, micropayments, and anonymity \u2013 taking on cryptocurrencies like Ethereum, Bitcoin, and Monero \u2013 and will deliver the following:<\/p>\n<ul>\n<li><strong>Storage \u2013 <\/strong>Distributed file-storage (similar to IPFS) will allow for torrent-like peer-to-peer file transfers.<\/li>\n<li><strong>Proxy \u2013 <\/strong>TON Proxy hides the identity and IP addresses of TON nodes and will be used to create decentralised VPN services.<\/li>\n<li><strong>Third-party apps \u2013 <\/strong>TON will include support for third-party decentralised applications built on smart contracts, as well as a web browsing experience.<\/li>\n<li><strong>DNS \u2013 <\/strong>TON\u2019s DNS will allow users to assign human-readable names to addresses, similar to Ethereum\u2019s ENS project.<\/li>\n<li><strong>Payments \u2013 <\/strong>Telegram will implement micropayment channels and off-chain scaling solutions.<\/li>\n<\/ul>\n<p>To support these features, TON uses a dynamic sharding scaling model, consisting of a master chain with primary consensus and up to 2<sup>92<\/sup> side-chains.<\/p>\n<p>These side-chains can split and merge dynamically to spread the transaction load evenly over the network.<\/p>\n<p>The blockchain will eventually be fully decentralised, with validator nodes maintaining consensus through a proof-of-stake mechanism and earning Grams for their contribution to the network.<\/p>\n<p>A major advantage for the adoption of TON is the integration of the blockchain into Telegram\u2019s Messenger app.<\/p>\n<p>TON light wallets will be built into Telegram mobile applications, allowing users to store their funds on the blockchain with minimal hassle.<\/p>\n<p>The platform will also allow Telegram users to transfer and spend cryptocurrency.<\/p>\n<h3 class=\"my-4\">Grams<\/h3>\n<p>The Gram cryptocurrency will be the central medium of exchange on the TON blockchain.<\/p>\n<p>Grams will be used for the following transfers on TON:<\/p>\n<ul>\n<li>Commission paid to TON validator nodes.<\/li>\n<li>Stakes deposited by validators to be eligible to validate transactions.<\/li>\n<li>Capital lent to validators in exchange for a share of their reward.<\/li>\n<li>Voting power required to support or oppose changes in the parameters of the TON protocol.<\/li>\n<li>Payment for services provided by apps built on the platform.<\/li>\n<li>Payment for storing data securely in a decentralized way.<\/li>\n<li>Payment for registering blockchain-based domain names.<\/li>\n<li>Payment for using the TON-based proxy.<\/li>\n<li>Payment for bypassing censorship imposed by local ISPs.<\/li>\n<\/ul>\n<p>If application owners opt to adopt a freemium or advertisement-based model, these services could be made free to users.<\/p>\n<p>Telegram will distribute Grams following the launch of its TON main network in Q4 2018, and the implementation of its light wallet client.<\/p>\n<p>The development roadmap for the TON blockchain is outlined below.<\/p>\n<p><a href=\"https:\/\/mygaming.co.za\/news\/wp-content\/uploads\/2018\/01\/TON-roadmap.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-123048 size-full\" src=\"https:\/\/mygaming.co.za\/news\/wp-content\/uploads\/2018\/01\/TON-roadmap.jpg\" alt=\"TON roadmap\" width=\"719\" height=\"793\" srcset=\"https:\/\/mygaming.co.za\/news\/wp-content\/uploads\/2018\/01\/TON-roadmap.jpg 719w, https:\/\/mygaming.co.za\/news\/wp-content\/uploads\/2018\/01\/TON-roadmap-272x300.jpg 272w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3 class=\"my-4\">ICO<\/h3>\n<p>Telegram\u2019s ICO will take place in Q1 2018, and the company aims to raise $1.2 billion from the endeavour.<\/p>\n<p>If it succeeds, the ICO will be the biggest ever by a factor of five.<\/p>\n<p>During the first stage of the platform\u2019s development, Telegram will hold the majority of the Gram tokens to prevent speculative trading and manipulation.<\/p>\n<p>Telegram will the release Grams to network participants at a later stage.<\/p>\n<p>The ICO will see 2.2 billion tokens distributed among investors, with the price of a token starting at $0.1.<\/p>\n<p>The funds raised by the token sale will be used for the development of TON, said the company.<\/p>\n<p>By 2021, Telegram aims to make the project truly decentralised and lose the Telegram element in its name, eventually becoming \u201cThe Open Network\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Telegram recently announced\u00a0it would launch an ICO for its blockchain platform.<\/p>\n","protected":false},"author":226,"featured_media":123049,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_enabled":true,"_sma_x_custom_text":"","_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[2],"tags":[25620,25407,25618,25619],"class_list":["post-123047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-gram-tokens","tag-telegram","tag-telegram-open-network-ton","tag-the-open-network-ton"],"_links":{"self":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/123047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/users\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/comments?post=123047"}],"version-history":[{"count":0,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/123047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media\/123049"}],"wp:attachment":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media?parent=123047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/categories?post=123047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/tags?post=123047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}