Telegram investor update claims TON is now 90% complete


Telegram, one of the most prominent and secretive projects in the cryptocurrency space, has released its latest investor update on the state of its Telegram Open Network (TON) development. 

According to the investor update, a summary of which The Block has included below, the overall build of the TON network is now 90% complete, an increase from 70% in September 2018. To be sure, measuring technical development progress by percentages is an arbitrary process. The updated figure, however, shows Telegram believes it is making progress on the development of its network. The investor update also shows that Telegram has delayed its testnet launch to March 2019. The original launch date was expected to be January 2019.

As for the exchange listing plans, sources familiar with Telegram tell The Block that the project is actively working with firms to get its native token, GRAM, listed on Asian exchanges such as Huobi, Binance, and OKEx. Telegram is also working on potential partnerships with e-commerce, retail, and other online services leading up to its native messenger app store launch.

As The Block previously reported, Telegram’s TON network will host decentralized applications, akin to Ethereum, the leading smart contract development platform. In 2018, Telegram raised $1.7 billion in one of the largest ICOs in the crypto industry to date, selling its GRAM tokens to investors including Benchmark, Sequoia Capital, and Kleiner Perkins Caufield & Byers. 


We got our hands on an investor update for Telegram’s blockchain project, and can confirm Russian reports that say its 70% done

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Image credit: Shutterstock/Mike Trukhachev

The post Telegram investor update claims TON is now 90% complete appeared first on The Block.

Telegram investor update claims TON is now 90% complete written by Steven Zheng @ February 7, 2019 Steven Zheng

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