Director of Investments at TON Foundation Justin Hyun has referred to the emergence of Mini Apps on Telegram as a catalyst that will trigger mass adoption of blockchain technology. Mini Apps are blockchain-based DeFi applications on Telegram, which were launched in 2020. The applications were launched in a bid to simplify interactions on the blockchain without the need for any background education.
Telegram set to simplify blockchain adoption with Mini Apps
This perspective shared by Hyun about Mini Apps is in line with the concept of introducing users to the blockchain without using the DApps label. According to Hyun, they can be seen as a ‘Trojan Horse’, where users are allowed to mingle across several apps on Telegram. This way, the users are oblivious to the underlying blockchain technology while enjoying the user-friendly applications on the platform. He mentioned that this approach is very integral to expanding the user base on the blockchain.
Telegram ranks in third place among messaging applications, boasting an active user base of over 800 million. Aside from providing the user base for integrating blockchain functionality, its collaboration with the TON Foundation shows the potential of Mini Apps to boost blockchain adoption.
A very important aspect of the platform is offering several rewards to its users. This feature will encourage user participation and promote engagement in blockchain-based events without deep-rooted technical knowledge. Telegram also acts as a financial payments feature within its TON blockchain, solidifying its push for innovative financial solutions.
Financial incentives and monetization opportunities
Telegram’s recent launch of its advertising platform on the TON blockchain marks a significant push in its intention to monetize the platform and encourage content creators with rewards. Owners of channels on Telegram can now earn rewards through their advertisements, a revenue model that provides earning opportunities for both Telegram and the content creators.
Also, TON Foundation recently announced a $115 million incentive program for its community, a move to solidify its growth strategy. The funds would be used for token mining, liquidity pool boosts, airdrops, and some other incentives on the platform. The initiatives will push for a strong ecosystem around the Mini Apps while helping to push the adoption of its blockchain among different users across the world.
The vision of bringing the next 500 million users onto the blockchain by 2028 reflects a long-term commitment to mainstream adoption. Hyun emphasizes the importance of starting with simple use cases that seamlessly integrate blockchain technology, paving the way for more sophisticated applications in the future. This gradual approach ensures a smooth transition for users and promotes sustained growth in blockchain adoption.
Telegram’s Mini Apps presents a great opportunity to provide democratic access to blockchain technology. It also provides a way to accelerate its integration into the lives of users. Through its user-friendly interfaces, Mini Apps will play an integral role in shaping the future of dApps. Aside from that, it will also provide web3 incentives that would trigger an increase in blockchain adoption on a huge scale.
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