The Open Network ($TON) - Could Telegram’s Integration Bring about Web3 Mass Adoption?
The Open Network ($TON) - Could Telegram’s Integration Bring about Web3 Mass Adoption?
Telegram has more users than the entire crypto ecosystem. Can $TON tap into this value?
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Introduction
Today's blockchains, while boasting low transaction fees, fast processing, and scalability, have yet to reach the mainstream audience. This has led to the key question - how can we bridge between current internet ecosystems and the emerging decentralized landscape?
The transition from web2 to web3’s technology landscape is a complicated endeavor for many users, often leading to a preference for the familiarity of existing solutions. Despite significant investments aimed at bridging this gap, the chasm between Web2 and Web3 remains significant.
Telegram (TG) is a cloud based mobile messaging app boasting 700M monthly active users. Specifically TG serves as an important communication tool in the crypto industry, appealing to a broad range of users and developers from the blockchain sector while hosting crypto-centric channels and groups.
Originally developed by the Telegram team, The Open Network (formerly known as the Telegram Open Network) operates as a decentralized computing network based on blockchain. Could Telegram’s integration of its core services with TON effectively channel users to the decentralized network? In this article we explore the below topics:
Introduction to The Open Network (TON)
Overview of TON’s ecosystem and service offerings
Network Growth of TON
Toncoin’s token economics
Comparison with other blockchains
Catalysts and risks
What is The Open Network (TON)?
Telegram’s The Open Network (TON) is a layer 1 Proof-of-Stake blockchain founded in 2018. The project was initially developed by Telegram’s team. However the messaging app shelved TON in 2020 after being blocked by the US SEC. TON is now a community-driven blockchain supported by the TON Foundation.