Telegram’s blockchain project will be compatible with ethereum according to the tech startup that works on the network building. Let’s find out more about the project in the latest cryptocurrency news below.
The messaging company will release the code to run a node on the Telegram Open Network this Sunday and will allow its users to trial its project in advance before they launch the full mainnet on October 31. The tech startup, more popular as Ton Labs, was helmed by the investors in the Telegram’s token sale and the startup is now creating a lot of tools for developers in order to help them build on the new network. One such tool will be the Solidity compiler which will allow for the decentralized applications that are built for Ethereum to also run on TON according to the CEO of Ton Labs and managing partner Alexander Filatov:
“That was probably the most difficult thing we built. It will allow the advanced Ethereum community to pull everything they wrote for ethereum into TON.”
As mentioned before, TON is expected to launch by October 31 and if this doesn’t happen, Telegram will have to return all the money to the investors in the token sale according to the agreement. The Sunday’s release is expected to be the last in the series of testnet releases and Telegram’s blockchain project will also be among the last. Filatov said that the code release on Sunday will be the most important stage of Ton’s rollout:
“We have very little time between the node release and the mainnet launch to test, identify and fix possibly bugs and vulnerabilities.”
The code for a light client was shared with the investors earlier this year and then it was leaked to the public. Filatov stated that this client allowed the users to play around with the project’s basic functions.
“You can play with GRAMs [the network’s token], write a simple smart contract talking to the node via a light client [and] create a wallet.
As noted in the altcoin news previously, Telegram managed to raise up to $1.7 billion in 2018 for its much-anticipated blockchain. The six-year-old messaging service now has about 200 million active users.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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