The global communications company Telegram launches private testing for its acclaimed TON network, according to reports. Many companies around the world, including those from Russia, are taking part.
Telegram has been working hard to enter the cryptocurrency industry for quite some time, and its infamous TON network has been the topic of hot debate amongst ICO investors and bitcoin and cryptocurrency traders in the community.
On the one hand Telegram represents a large corporate influence on the cryptocurrency industry – but on the other, this could lead to massive global adoption for cryptocurrencies, and incredible trading opportunities for investors.
The Telegram TON can handle super fast transactions
While the TON network has not had any completed results, it has shown that it can handle transactions much faster than many of its competitors, and so this shows that the corporation isn’t simply entering the crypto industry for the sake of getting a piece of the proverbial pie – but that it intends to disrupt and improve on what’s already out there.
With billions of dollars and huge teams to work on the TON project, it has a high chance of doing just that.
The Telegram Open Network is claimed to be a competitor to Bitcoin’s marketcap rival Ethereum, especially in the realm of smart contracts and other decentralized features.
The Telegram Open Network launch has faced many delays
TON’s launch date has been pushed back multiple times. Back in late 2018 the platform was sad to be 70% ready, and a public test version that was claimed to be around the corner has yet to materialise.
January saw an announcement that TON was 90% complete – but again, 3 months later and the cryptocurrency community is still waiting.
However this may not be a bad thing – the longer the company waits and continues to improve its product, the better. Launching a half-baked cryptocurrency could create some fundamental issues that would take a long time to repair once the blockchain becomes public, and so caution is always preferable to fomo.
If the TON network isn’t completed by October 2019, it’s been said that purchase agreements will be cancelled. So at least there’s a deadline ahead for crypto investors and traders.
Cryptocurrency investors believe when Telegram launches TON – it could be huge
Telegram currently supports 200 million users. If Telegram launches TON and that blockchain technology were to be exposed to that many users on a daily basis – the prospects for global adoption of cryptocurrencies could be intense and swift.
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