Telegram Cryptocurrency As The Most Anticipated Event In 2019
Since the end of hype over cryptocurrencies and decline of ICO boom, that developed a reputation to be highly questionable investment assets, the general interest to digital space and especially to crypto crowd-funding expired. However, TON ICO and project’s token is likely to happen event in the industry. This article to investigate more precisely what TON is like and when it is going to be launched.
Why Was TON Created?
The TON devs say the main reason to create TON was the present-day blockchain platforms are not able to comply with the market demands. There are three reasons in WhitePaper stating the necessity to develop a new blockchain:
- Low processing capacity means the decentralized network with the current technical abilities are not able to compete with centralized payment systems like Visa or MasterCard. Meanwhile, the TON developers announce that TON will be able to process millions of transactions per second;
- The complex interfaces of the crypto products the exchanges, wallets and other products offered by the crypto companies are not user-friendly at all. TON is aimed to provide the crypto society with user-friendly services such as wallets, exchanges, digital identification service;
- Basically, cryptos are the object of trade speculations and it is one bigger issue of the crypto society lies in the fact the practical usage of the crypto is not widespread and, in general, they are used as the trade assets at the exchange or as investment savings. TON wallet enables the cryptocurrency to become a payment instrument thanks to the huge number of messengers users.
The Practical Part Of TON Use
Thanks to messenger`s ecosystem, Telegram cryptocurrency will easily integrate into. It will have a positive impact on the increase in the price of the native token, Gram.
Gram may also be used for:
- Payment with nodes for verification of transactions and smart-contracts;
- Placing of rates by the validators during the generation of a new block;
- Payments to validators for transactions verification and generation of a new block;
- Voting for amendments to TON protocol;
- Payment for files stored in TON Storage;
- TON DNS and TON WWW payment;
- Proxy payment to TON Proxy.
Is ICO TON Worth Such A Huge Budget?
When the first gossips on Telegram creators desire to launch ICO arise, the crypto society was excited to hear the news about the public crowdfunding date. However, it was a disappointment when the organizers announced $1.7 billion raised from private investors are enough. Meanwhile, a lot of crypto enthusiasts say that this amount is too large and project is overestimated. Most likely the creators foresaw such statements. That’s why they explain what for ICO TON needs such a huge budget in one of the WhitePaper`s chapters.
According to the official resources, it was spent $70 million to TON in 2017. The planned budget for the period from 2018 to 2020 is $400 million and from 2020 to 2022 is more $200 million. The creators are planning that messenger’s audience will achieve 1 billion active users to 2022.
The WhitePaper of TON contains the information on the distribution system of the future tokens which according to the unofficial resources will be issued (it will be created 5 billion GRAM) not later than October 31st, 2019:
- 52% on a reserve of TON Foundation;
- 44% to the ICO private investors;
- 4% to the developers (provided that coins will be blocked for four years).
Mining Of Telegram Cryptocurrency
TON blockchain has PoS-mining what means that additional Gram won`t be emitted as all the coins had been already mined. In order to participate in the transaction confirmation process, the users will need to adhere to the following requirements:
- construct a fat server;
- have a broadband connection to the Internet;
- place a deposit in GRAM tokens to confirm commitment.
The validators will be 1000 network nodes to be replaced with other nodes on a monthly basis. Theoretically, any user is able to create its own node, however, taking into account how the ICO was held, it is easy to understand who will have the exclusive right to be “the chosen one”.
The second point is that the creation of a fat server requires a lot of resources. TON WhitePaper says that GRAM mining is less expensive than BTC mining. However, it will need lots of investment to compete with others. Since the validators are about to be changed each month, the expenses may not be justified. Yet there is one more affordable option is to rent the servers.
Pros And Cons
We will try to do it using the data we already have.
- The personality of Pavel Durov is a famous media person. That is why any product created by him will attract lots of attention;
- Huge user base Telegram is one of the most popular messengers, so the Gram will have active users (around 200 million worldwide as the creators say);
- Blockchain`s technical abilities TON is the fastest and the most scaled up blockchain among all others, the developers say;
- Hype the fuss over ICO TON began before it even started and continues till now, despite the fact the creators held the private sale of coins.
The users are excited and wait for the launch of Gram to buy it at the exchange for now.
- A small number of users have a large number of coins only 81 investors took part in private TON ICO. It is highly likely that Gram is overestimated at least twice when it will be issued at the exchanges;
- The team has no blockchain experience. Yes, of course, Pavel Durov is a brilliant programmer, and other Telegram team members are professionals yet they have no experience working in other blockchain projects;
- Unclear theoretical part WhitePaper`s technical part is too unclear and it does not contain a detailed.
- Creator`s weak feedback Durov and his team make no official statement in relation to project’s cryptocurrency.
So, When Finally It Will Be Started?
There is a document on the Internet says that if the platform fails to be launched till October 31st, 2019, the investors will receive their funds back. But Durov hasn`t signed the document yet. Originally, TON launch was planned for the first quarter of 2019.
The devs promised to issue testnet at the end of January 2019 but the terms were shifted soon.
The team says that they reached the results they set. Every developer has a chance to test the network.
Two more signs that signify the TON development statues are the issue of TON light client and new Fift language.
According to unofficial data, blockchain TON is ready up to 90%. Based on team activity, users will have access to the full blockchain at the end of this year, however, no official date was given yet.
How To Buy GRAM?
One of the most frequently asked questions among people interested in cryptocurrencies is how to buy GRAM tokens. But pay your attention to the fact Gram tokens are not for sale in public at the moment (June 2019).
However, according to the Liquid cryptocurrency exchange website, their clients will be enabled to buy GRAM tokens since July 10th, 2019. The rate for one token will be at $4 apiece. This information isn`t confirmed by the TON management yet.
According to investment agency "Aton" the rate of the native token of the is in the range of $2.1-$8. The average price of the range is $5.1.
Note that the calculations were made taking into account the cost of tokens on ICO, total emission, circulation rate and the number of potential users. According to some forecasts, in 2021, Telegram will use 675 million people.
Due to hype over TON and GRAM, there are frauds that offer to sell Durov`s coins. Remember that it is a lie and still any person out of the closed ICO list does not have GRAM tokens.
TON and its native token are one the most hyped (if not the most) blockchain projects and everyone is excited about the network launch.
Taking into account that Durov highly succeeded with VK and then with Telegram, TON and GRAM can expect the same success. However, we`ll see soon how it will be.