Telegram confirmed that they are standing behind the TON blockchain or as explained, they are involved in the Telegram Open Network after raising $1.7 billion last year as we read in the blockchain news.
The first mention of TON and the native gram token appeared on the official website of Telegram on Tuesday morning in the form of terms of service for the token’s wallet app. This is they Telegram confirms the involvement in the project and according to the ToS, the company will integrate the wallet into the company’s flagship messaging app and will also offer it as a product:
“We have no control over the TON Blockchain network and therefore cannot ensure that any transaction details that you submit via the Services will be validated and confirmed on the TON Blockchain.’’
The wallet is provided by the London-based Telegram subsidiaries as one of the entities that Telegram registered for messaging operations and an official publisher of the Android-based Telegram app. According to the ToS, Telegram will not keep personal information of the users and won’t hold their public and private keys:
“You are solely responsible for managing and maintaining the security of your Credentials. If you lose your Credentials, we do not have the ability to recover your Credentials or assist you in retrieving your Credentials, and you may not be able to access your Grams.”
Telegram also stated:
“The transactions you submit via the Services may not be completed, or may be substantially delayed by the TON Blockchain. We have no control over the TON Blockchain and do not have the ability to facilitate any cancellation or modification requests to transactions you have submitted. A fee may be imposed on your transaction by the TON Blockchain. We have no control over the amount or type of such fees.”
This is the first time that Telegram announced publicly the link to the TON blockchain. Not even the CEO of the company Pavel Durov ever said anything about it. So far, only the registration of TON’s simple agreement for future tokens has been linked to the company to the blockchain project. As per the cryptocurrency news, the investors bought the gram tokens during the two-closed rounds in 2018 and in early September the same year, the code of TON’s blockchain nodes was released.
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