Messaging app Telegram is purportedly working on launching the mainnet and token for its blockchain-based Telegram Open Network (TON) platform. Last year, TON came under a lot of scrutiny, when Initial Coin Offerings (ICO) came under fire when news reports emerged that nearly 80% of the ICOs were fraudulent.
A source, close to Telegram founder and Chief Executive Officer (CEO) Pavel Durov, told news portal Coin Telegraph that the mainnet would be ready to launch in March this year. The person added that Durov was reluctant to confirm a concrete date for TON’s release and that the March estimate remains subject to change.
Earlier, Crypto-News India had reported that TON, was 70% complete, according to a leaked investor update. The update had also revealed that TON Virtual Machine, a VM similar to Ethereum Virtual Machine (EVM), was successfully deployed on the network, thus clearing a major roadblock from the path of network’s launch.
In a separate report published by a Russian business media outlet, The Bell, Durov’s team has told investors that TON is 90 percent ready, but that delays are possible, due to the “innovative nature of the development.”
As reported, details released so far have suggested that TON will aim to function as “new way of exchanging data,” and will be powered by the platform’s native cryptocurrency, dubbed “Gram.”
As per the announcement put out by the official Telegram channel, “The Testnet Blockchain’s test network “Testnet” has already been launched, and Pavel Durov himself will probably show the official presentation of the Telegram Open Network to representatives of leading countries of the world at the WEF forum.”
The announcement further added, “WEF is an annual place of attraction where major projects are presented and global economic issues are discussed. Pavel Durov has already visited this forum several times, but now everyone is waiting for him as a speaker, but there is no official information about his speech yet. And in general, everything about TON at the moment is always unofficial information, since Pavel Durov never confirmed that he is working on this project. Closed ICO, only insider information, it all looks like a powerful PR company.”
Liked what you read? Join us on Telegram