Apr 15, 2019 04:37 UTC
Apr 15, 2019 at 08:26 UTC
Telegram Has Successfully Beta Tested Their Blockchain With Incredible Results
Just a few days ago, we had reported that Telegram Cryptocurrency Will Make An Appearance in The Market Soon. It looks like that is not the only new product Telegram is going to come up with.
Since January, there was a buzz in the market and people were wondering if Telegram’s Blockchain Network Will Be Launching Soon, and looks like we have the answers to our questions now.
According to a report by Russian outlet Vedomosti, Telegram, the Russian messaging platform, has finally conducted beta testing of its blockchain. This blockchain called Telegram Open Network (TON) was being developed since 2018.
Telegram is a big name in the messaging industry for the past six years. It was founded by two Russian brothers, whose main vision was to guaranteee privacy, which in turn attracted many users to the platform.
Althought the testing has been going on for a brief period, the results so far have been incredible. The developers have claimed that the TON blockchain has displayed a significantly high transaction speed. The testing was open to only limited number of developers across the world. Since most of the code was still in testing, no more outcomes could be revealed.
The team of developers working on the project were all able to set up TON blockchain nodes. Vedomosti cited two Russian developers who were part of these teams. It understandably is a big moment for Telegram, which has been racing against a clock for some time now, since they had initially promised to launch it last year.
Despite Russia being Telegram’s biggest market, just last year Russian authorities banned it, due to difference of opinions and clashes. Shortly after, it was banned in Iran.
TON has to be launched by the end of October 31, 2019, otheriwse the purchase agreements for its Gram tokens will be nullified.