The messenger Telegram for today is one of the most popular in the world chat, the overall user audience is not less than 200 million users. Today the site stands as the primary communication tool for members of the cryptocurrency community, opening a private Telegram in the village to inform the interested parties about all the developments.
Now the creators of the project decided to create their own cryptocurrency network, using its development funds received within the framework of the host ICO. Initially Pavel Durov and his team expect to collect about $ 1.2 billion, which will be a new absolute record. Now the largest fees ICO are almost 5 times less (257 million).
In the white paper of the draft States that its main purpose is the creation of a digital currency designed to meet the everyday needs of all users, which are defined in the first place millions of Internet users around the world Telegram.
The project developers indicate that today users of cryptocurrencies as payment instruments performs only limited-scale group of enthusiasts, the appearance of the same universal cryptocurrency that is focused and Telegram, will involve payment transactions in decentralized networks with millions of users.
The document notes that the current leading cryptocurrencies such as Bitcoin or Ethereum can't be considered as a global payment system that can compete with, for example, VISA. Limited scalability does not allow them to carry out simultaneously a large number of payment transactions, slowing down the transitof reconstruction, and making them more expensive for consumers.
The developers plan to solve this problem by forming a network of TON, based on multi-blockchain architecture. It will create fast and affordable for millions, the payments service, which has all the advantages of a decentralized network with a high degree of security and the absence of intermediaries, or regulators.
Representatives Telegram expect that the system of instant translation with a high degree of security and the integration of cryptocurrency wallets in the accounts of the users of the messenger, will be one of the most popular in the world. The involvement with the TON surrounding ecosystem will help to build a full economic model that provides access to a wide range of goods and services.
Used for the network technical solution needs to provide service to virtually unlimited scalability. It is achieved due to the possibility of existing blockchains to automatically carry out the division or the Association, providing the necessary speed of execution of payment transactions.
The basis of the routing system will be based on the principles of intelligence that will ensure the compatibility of any two blockchains without reference to their size, to ensure the efficiency of the made translations.
A positive impact on the speed of processing operations should use the schema Proof-of-Stake, providing the Deposit confirmation of the reliability of all validators present in the network. This scheme provides opportunities to consolidate efforts of existing computing capacity solely on the transactions and smart contracts without their waste in other areas.
Today the project is at the initial stage of implementation, this year the developers plan to launch a test network with a minimum capacity (second quarter), and then proceed to the check for compliance with safety requirements. In the last quarter of developers should create a stable network of TON and to integrate in the accounts of the wallets.
For the first half of 2019, the year Telegram plans to provide complete the formation of the surrounding ecosystem and content of the project additional functionality and computing capacity.
A large part of developers attracted funds will be spent on the purchase of the necessary equipment. For these purposes will take up to 80% of the total budget. The latest on the 2018-2019 year for Telegram generally formed at 130 and 170 million dollars.
Initially, ICO is divided into two fragments, each of which needs to attract $ 600 million. First indoor round has brought 850 million, through open bidding scheduled for March, there is every prospect, also to cover the estimated fees.