Telegram's ICO – GRAM coin – TON Blockchain
When will it launch?
According to the crypto news site The Block, the cloud-based messaging giant (it’s ICO raised almost $1.7 Billion) should launch their coin in the 3rd quarter of 2019.
We can only imagine the rise of popularity of this particular cryptocurrency. There are no crypto coins in the market that could be used as an alternative for money. Cryptocurrency is currently used only as an asset, but not for long.
How will TON operate?
Icorating made a white paper document, where they explained how the GRAM coin will operate and what plans they have for the future. Here's a short summary of the whole document.
- The TON blockchain has built-in support for sharding, which means the transaction costs will stay low, no matter how many of them will be made. This is a huge winning factor for the sake of scalability for the GRAM.
- TON (Telegram Open Network) can become the new Visa/Mastercard for the Decentralized Economy. When integrated into Telegram applications the TON wallet could become the most adopted cryptocurrency wallet in the world.
- Due to Instant Hypercube Routing technology implemented in the TON blockchain, the transactions between blockchains will take place at top speed, no matter how many millions of chains the blockchain will have.
- Another amazing TON feature is that it will have 2-D Distributed Ledgers, which means it will make new blocks on top of errored blocks, so no transaction will be cancelled due to irrelevant bugs. This will keep the system running and prevent it from breaking down no matter what.
These are only the main features of the TON blockchain. It has many more benefits, such as commissions paid to TON nodes for processing transactions and smart contracts. As well as capital lent out to validators in exchange for a share of their reward.
Telegram Releases their own Programing Language for TON called "Fift"
Fift was created specifically for TON blockchain's smart contracts management. It's also used for interacting with the TON Virtual Machine (TVM), which is used to execute smart contract code in the TON blockchain. Telegram also launched a beta version of the TON blockchain, which was tested by a small number of global developers in April. The TON Blockchain showed extremely high transaction speeds during the testing period. Once again, it proved that the TON Blockchain has ungodly amounts of potential and so does the GRAM crypto coin. Soon we'll get to find out how powerful it really is.
FAQ about TON and Gram
What is TON?
Telegram Open Network (TON) is a Telegram powered blockchain network that aims to create a secure, scalable and user-friendly platform for fast and convenient crypto transactions. It's primarily targeted at Telegram users and service providers. TON's objective is to be much more scalable than any other blockchain-based platform, host decentralized applications and be as fast as possible at processing transactions between users.
Why should you choose TON?
Telegram claims that, unlike other blockchain platforms, TON will be able to meet the needs of the people when it comes to mainstream cryptocurrency use. TON utilizes its built-in proxy and anonymizer to ensure security while retaining the decentralized nature of the platform. With its solution, TON has the speed and scalability required to make this a possibility.
What is Gram?
Gram is the representative cryptocurrency of TON. It aims to be the world’s most adopted cryptocurrency, as well as the currency of Telegram's in-app ecosystem. The initial supply of Gram is rumoured to be around 5 billion and with an inflation rate of 2%. The first publicly accessible sale of Gram took place on July 10th on the cryptocurrency exchange Liquid, as previously it was only attainable through private sale rounds. Gram is said to be unmatched in its transaction speed, dominating even Bitcoin and Ethereum, which makes it one of the most anticipated cryptocurrencies to date.
What are the uses of Gram?
- As payment for the person’s identity and IP address concealment via TON Proxy.
- As payment for bypassing local ISP prohibitions via TON Proxy.
- As payment for the registration and use of blockchain domain names, as well as payment for the hosting of pages through TON Sites.
- As payment for app services on TON, as well as payment for decentralized data storage via TON Storage.
- As a TON node validation commission for smart contacts and transaction processing.
- As capital granted to TON node validators for a share of their earnings.
- As voting power when voting for or against changes in the protocol’s parameters.
- As validator deposited stakes to be able to validate transactions, as well as produce new blocks.
- As a standalone cryptocurrency that can be used outside of TON