Since the inception of Bitcoin in 2009, the cryptocurrency’s implementation has been quite visible to the general public. Because of its autonomy and convenience, the new type of currency has become a popular and viable source of currency all across the world.
To serve as an alternative source of currency, various varieties of cryptocurrencies have been developed. In a bid to operate within the digital world, users can send crypto in-app via revived blockchain project – Toncoin (TON).
In explaining the new features, TON released a video via the @Ton_blockchain Twitter handle earlier this week informing users that they can now send Toncoin directly within Telegram chats without transaction fees or entering long wallet addresses.
According to TON, users transmit Bitcoin (BTC) or Toncoin to other users by clicking on the “Wallet” symbol in direct messaging. Toncoin is developed by the TON Foundation, an independent community of developers that is using the open-source technology we originally developed.
Telegram established the Open Network (TON) in 2017 as a proof-of-stake method for decentralized services like decentralized storage, anonymous networks, DNS, rapid payments, and others.
In May 2020, Telegram abandoned TON after a protracted legal struggle with the US Securities and Exchange Commission. Then, Crypto enthusiasts from all over the world quickly took up the reins and formed the free Ton community with its own mainnet, built on Ton knowledge.
The verdict came after the SEC claimed that the business used its initial coin offering to sell unregistered securities to the general public. A New York judge had earlier ordered that the corporation could not issue Grams, a token similar to TON from the then-Telegram Open Network, to investors outside of the United States, further complicating the situation.
The firm is reported to have recorded over 550 million active users surfing messages on the platform each month. Thus, this will flourish the cryptocurrency market by boosting the economy.
Telegram is one of the most popular instant messaging platforms where developers can create a bot using Telegram’s open bot platform and apply for verified status.