TON Crypto Project Could Come To Telegram In A Different Form

The abandoned TON Crypto project could come to Telegram but in a different form with the developers still working on the network and getting closer to launching the new version so let’s read further in our latest cryptocurrency news.

The TON platform that was going to make use of the coin with the same name, is set to become the world’s first true big tech company altcoin before the intervention from American regulators ended up derailing it. Right now, from the ashes of the abandoned network, some developers associated with the company’s project continued working on it and call it the Free or Open TON that has since rebranded as Toncoin.

According to the project’s Telegram channel, the project could get a second wind that will see it integrate with the Telegram platform that some support from the key associates of Pavel Durov who is the founder of Telegram. The group stated that it had a few adjustments to the roadmap and will seek to launch TON payments as well as other proxy sites and storage by the end of 2022 noting that the project had heavy-hitting backers and writing:

“We assumed that TON would be of interest to third-party developers and product creators, but we did not assume that it would happen so quickly.”

One developer, Oleg Andreev was quoted stating that the network was built in a manner that will let it integrate into the Telegram platform and will have interoperability with exchanges. He added that the payments system will be used in the gaming world to purchase in-game items and currencies on the platform. Forbes added that more than 60 developers are now working on the project. According to a source close to the TON crypto project, the VKontakte platform’s Vice President Andrey Rogozov was expected to join the TON Foundation.

Telegram raised $1.7 billion in pre-sale events and attracted huge investmetns from plenty of investors. As many of these investors were USA-based, regulators intervened and accused Telegram and its founder of selling unregistered securities. Telegram initially fought but then caved in which forced the company to reimburse the investors. Some investors blamed Mark Zuckerberg for the Telegram TON Failure and claimed that the Facebook founder drew the regulator’s attention to the project when he wanted to launch the Libra stablecoin.