TL;DR Breakdown
• The Telegram executive reveals that the TON protocol has been resumed.
• The crypto TonCoin has increased in price by over 45 percent in the last 24 hours.
Pavel Durov, CEO and co-founder of the social network Telegram, appreciates the TON technology network taken over after it was discarded in 2020. Durov expresses he is very much interested in this new technology that could evolve significantly, with the executive also believing that the Blockchain is well ahead of its time.
The crypto market advances daily, bringing different technologies that aim to change everything known. The competition is strong, but Telegram may take the lead against other brands with its new technology.
The telegram project goes one step ahead
For a year, specifically in 2020, the Telegram project has been developing for the good of the crypto market and social networks. However, this Blockchain network went from TON to Telegram Open Network to a TonCoin network that focuses much more on cryptography. Another difference that TonCoin shares from TON are that it is dedicated to the social network.
Durov, who runs the social network and crypto project, said that he hopes to get lucky in the new network, and for those who stick with the old protocol, TON, he wishes them success. These comments come after Donate’s verification payment server announced that it would use the crypto TonCoin as payment.
In the early hours of Thursday, December 23, the TON protocol agents announced that they are planning to partner with the Donate server, who announced that people will now donate money using TonCoin. The protocol agents said that the income with the native crypto would be withdrawn. Since last Monday there have been rumors about this possible company and today these have been verified.
What is the TON protocol?
TON, the protocol born from the Telegram social network, consists of a Blockchain developed by Pavel and Nikolai Durov for 2017. Still, not until 2020 did it start its operation. The Durov brothers fought a tedious legal battle with the US SEC and other regulators towards cryptos. It was not until 2021 that the crypto project was resumed thanks to both executives’ enthusiasm.
According to reports, the number of people behind the TON project is approximately 160 thousand. While TonCoin has around 50 thousand active clients. The cryptocurrency is picking up its adoptions as announcements towards it advance.
Crypto trading platform CoinMarketCap shows that the crypto TonCoin is trading at $3.45, with a rise of 45.20 percent in the last 24 hours. This crypto has a market capitalization that exceeds 17 billion dollars and a trading volume reaching 26 million dollars.
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