Telegram claims that the TON blockchain is no longer dead and has come back to life as Toncoin, independent of the original creator. Let's explore more in this article "Why Does The Owner Of Telegram Use the Blockchain System?".
Why Does The Owner Of Telegram Use The Blockchain System?
A platform on The Open Network (TON) blockchain will allow users of the messaging software Telegram to purchase usernames, two months after Telegram founder Pavel Durov first proposed the idea.
Telegram, which has over 700 million users, announced via an official channel on Thursday that the development phase of the auction platform is over and will be rolled out soon.
In August, Durov announced that Telegram planned to launch an auction for usernames, establishing "a new platform where username holders could transfer them to interested parties in protected deals – with ownership secured on the blockchain via [non-fungible token]-like smart contracts "
Telegram created the TON blockchain along with its messaging app, but it was discontinued in August 2020 as a result of a lawsuit from the US Securities and Exchange Commission (SEC).
Later, ecosystem creators established the TON Foundation to maintain the project, a move that Durov supported.
Toncoin (TON), the native coin of the TON blockchain, is up nearly 9% at $1.34 in the last 24 hours following news that it will be used to purchase usernames on Telegram.
Why Does The Owner Of Telegram Use The Blockchain System? - Hopefully, this article can help you to get some knowledge.
