Telegram Messenger to Launch ICO, Cryptocurrency

Popular messaging application Telegram is planning to launch an ICO and its own cryptocurrency, according to a report in Techcrunch, which cites a whitepaper that it has reviewed portions of.

The tokens will be called 'Grams', and the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term is to be called 'TRON'. The Durov brothers, founders of Telegram, are apparently considering a total token value of 3-5 billion USD, and a pre-sale of 500 million USD.

With this move, Telegram is taking a leaf out of the book of WeChat - the Chinese messenger service that has become a popular payment platform too. In fact, Bloomberg reported in September that the Chinese government's crackdown on cryptocurrency is leading millions to migrate from WeChat to Telegram; they had been using the WeChat platform to circumvent the ban on cryptocurrency exchanges.

According to the whitepaper, the system will be released in four stages: TON services, TON DNS, TON Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, and the TON blockchain.

The blockchain will be a third-generation proof-of-stake based blockchain, meaning that it will not rely on mining to generate currency as Bitcoin does. 5 billion Grams will be created, of which 4% (200 million) will be reserved for the development team, and at least 52% held by Telegram to regulate the number of tokens in circulation.

The ICO could come as soon as March, according to the report.

Telegram is a cloud-based messaging application with which users can exchange messages and media files. It differs from WhatsApp because of its emphasis on privacy - users can converse in 'secret chats', with which messages can only be viewed on the device to which they were sent, and cannot be forwarded. Users can also opt to set a self-destruct timer on messages, much like Snapchat.

Telegram was launched in 2013, and as of December 2017 had 180 million users. It accounts for approximately 40% of the internet traffic in Iran - the Iranian leadership blocked access to the application last week, claiming that it was "kindling the fire of the battle", according to The Telegraph.