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Leaked Video: Telegram’s Proposed TON Cryptocurrency to Use Third Generation Blockchain Technology

Leaked Video: Telegram’s Proposed TON Cryptocurrency to Use Third Generation Blockchain Technology

Reading Time: 2 minutes by on January 9, 2018 Blockchain, Commentary, Ethereum, News, Tech
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Global cryptocurrency users’ de facto communication and messenger platform appears to have something big up its sleeve.

Third Generation Blockchain Technology

Telegram’s developing TON token was one of the industry’s best-kept secrets until a source let slip of the project on December 21, 2017.

If the information contained in the statement is correct, the third-generation blockchain technology that TON will be built upon will give the token an enormous advantage over the rest of the industry, being far superior to any other digital currency currently available on the market.

Russian-born Anton Rozenberg is a former Special Projects Director at Telegram. Having been privy to the highly confidential TON token that Telegram aims to release in 2018, he has shared detailed inside information on the project after parting ways with the company.

Rozenberg posted a statement on Facebook shortly before Christmas 2017, outlining the plans of the popular messaging platform and sharing a link to the corresponding “teaser” informational video, which can be viewed here or here.

The Telegram team is reportedly set to launch the network in 2018, which will provide over 200 million Telegram users with their own cryptowallet. The technology will be based on multi-blockchain technology, instant off-chain transactions, the ability to support billions of user and thousands of applications among other attributes.

Although no source was declared or credited by Rozenberg, from the information contained in the video and his proven past allegiance to the company, it appears that the video is authentic.

Roughly translated from Russian, Rozenberg’s public announcement included the following statement:

“The idea was to release [Telegram’s own] cryptocurrency, to embed it in the messenger and to announce the largest number of users of the system by trying to drive Ethereum out. [The] project will be called TON (Telegram Open Network), and there is already a beautiful Star Wars-themed ad, without any specifics.”

The rumored TON ICO has gathered a significant amount of public interest, already making its way to icodrops, a popular website which provides information on upcoming ICOs. However, the site has made it explicitly clear that TON remains a rumor at this stage.

It has been said that the currency associated with the TON platform will be called “Gram”, likely a shortened form of “Telegram,” and that it would use light wallets to provide users quick and easy access to funds.

Telegram Founder and CEO Pavel Durov declined to comment on the rumored ICO, making only the following statement on Twitter the day after Rozenberg’s public post:

“Attention: Telegram publishes its official announcements only at Everything else is a most likely scam.”

The tenuous relationship between Durov and Rozenberg, however, provides a reasonable motive for the recent early announcement. In a Medium article published on September 18, 2017, the former projects director detailed the history of their friendship all the way up to a lawsuit filed by Durov for 100 million Rubles.

As the video provides a release date of 2018, the cryptocurrency community waits with bated breath for the release of quite possibly the most revolutionary application of blockchain technology to date.

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