Fun

TON is paving a path to the future for crypto

News Feed - 2024-06-13 07:06:20

Tim Delhaes1 hour agoTON is paving a path to the future for cryptoTON"s integration with Telegram has made it easier for users to use crypto to pay for goods and services — without realizing it involves blockchain.271 Total views1 Total sharesListen to article 0:00OpinionOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe road of tech giants embracing blockchain is littered with failures. Just look at Meta, which abandoned plans to launch the Diem stablecoin after three messy years and an almighty backlash.


But there are bright spots — and projects showing a lot more promise. The Open Network (TON) — formerly known as Telegram Open Network — was built to supercharge one of the most-popular messaging apps worldwide. Although Telegram stepped back because of regulatory issues, an independent community swooped in to keep championing the adoption and development of this layer-1 network. TON was born.


Following years of poor interfaces and limited use cases, TON is achieving what the industry has craved for a long time: enabling users to interact with blockchains and cryptocurrency without even realizing it. And it’s only scratching the surface in exploring how this infrastructure can make the world a better place.Why TON could be the ultimate solution for crypto adoption


TON is all the more significant given how the platform has begun diversifying beyond messaging. Drawing inspiration from the Chinese giant WeChat, it"s started to resemble a "super app" offering everything a user needs in one place. Restaurants can now establish "mini apps" within Telegram that make their websites obsolete, giving customers an easy access point to services, while developers in other industries have unparalleled flexibility thanks to JavaScript.


Related:Telegram"s Pavel Durov is wrong about Signal — and has been for years


The fact these mini apps boast integrated payment solutions is especially bullish given how it could help normalize crypto transactions like never before. TON"s integration helps ensure that each and every payment is transparent and tamper-proof. Telegram has long been a hub for crypto enthusiasts since the early days, but the app"s now transcended into mainstream consciousness — a feat made all the more impressive by the fact it does little marketing."TON is looking to be one of the biggest growth stories of this cycle." Source: X


There"s a key barrier to entry that"s being torn down here: ensuring consumers and merchants alike no longer have to contend with long and confusing alphanumeric wallets. Countless crypto platforms have struggled to achieve wider market penetration because they"ve suffered from a poor user experience and only appeal to enthusiasts already in the space. By contrast, Telegram is creating a shop window for digital assets within an app that"s already widely used, and cultivating an ecosystem that"ll enable users to do much more than messaging when they"re ready to do so.


A big part of this puzzle is ensuring that the blockchain infrastructure powering these crypto payments is match fit and able to scale. It would be nothing short of a disaster if Telegram"s slick interface was undermined by sluggish and expensive transfers. TON"s network addresses this by offering fast transactions with low fees — broadening access to cross-border payments and ensuring Telegram can deliver Web3 services to the masses without controlling user funds.


Related:CBDCs" threat to freedom put under the microscope at Oslo conference


All of this is an irresistible opportunity for developers who are already deeply familiar with rolling out mini apps on WeChat. There are plenty of similarities when building on TON, and a chance to reach a diverse and engaged audience. An ever-increasing number of mini apps within Telegram will create a positive feedback loop — drawing more users in, and inspiring more businesses to seek a piece of the action.The challenges ahead


While TON"s integration into Telegram means it"s in a strong position to become a  bigger blockchain, this journey hasn"t — and won"t continue to be — without challenges. Fragmentation and silos forming between networks has been a long-running issue, and lasting connections will need to be built with other blockchains to ensure this super app can be enjoyed and relied upon by a broad cross-section of users. The focus on a single token will fuel this exclusion, though work is underway to forge connections between Telegram and EVM-compatible networks.


In developer circles, a common motto is "build it and they will come." Telegram"s a bit of a different case here given how it"s already one of the world"s biggest apps. Arm in arm with TON, it must focus on making crypto payments as simple as its messaging tool — and encouraging existing users to try new features without alienating them.Tim Delhaes is the co-founder and CEO of Grindery, an EVM smart wallet with deep Telegram integration. He co-founded Grindery in 2018, and the company joined Binance Labs in 2022.


This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.# Blockchain# Cryptocurrencies# Analysis# Telegram# Messaging App# Tokens# TON# OpinionAdd reaction

News Feed

Bitcoin, Ethereum Technical Analysis: BTC Rebounds Following Bullish Comments From Elon Musk
Bitcoin, Ethereum Technical Analysis: BTC Rebounds Following Bullish Comments From Elon Musk Bitcoin started the week trading below $17,000, as volatility in the cryptocurrency spa
Popular Crypto Wallet Imtoken Adds Bitcoin Cash Support
Popular Crypto Wallet Imtoken Adds Bitcoin Cash Support Consistently among the top digital assets in the world by market cap, Bitcoin Cash is accepted by most crypto service prov
RWA protocols are closing in on $8B total value locked: Messari
Martin Young5 hours agoRWA protocols are closing in on $8B total value locked: MessariThe TVL across real-world asset tokenization protocols has surged almost 60% since February, says blockchain analytics firm Messari.14
Bitcoin price drop and crypto market turmoil intensifies — Is Germany to blame?
Marcel Pechman3 hours agoBitcoin price drop and crypto market turmoil intensifies — Is Germany to blame?Some traders say Germany’s Bitcoin selling is behind this week’s drop, but a negative reaction to concerning m
Winklevoss twins pledge $2M for Trump, claiming Biden waged war on crypto
Turner Wright3 hours agoWinklevoss twins pledge $2M for Trump, claiming Biden waged war on cryptoTyler Winklevoss claimed that anyone who disagreed that Donald Trump was the pro-crypto choice for U.S. President was “de
Famed Whistleblower Edward Snowden Reveals He Took Part in the Zcash Launch Ceremony
Famed Whistleblower Edward Snowden Reveals He Took Part in the Zcash Launch Ceremony Edward Snowden, the well-known whistleblower and former computer intelligence consultant who ex
OpenAI partners with lab that created the atomic bomb, but for bioscience
Tom Mitchelhill2 hours agoOpenAI partners with lab that created the atomic bomb, but for bioscienceOpenAI is partnering with Los Alamos National Laboratory, which conducts research in fields including national security,
A Rocky Start for Bukele’s Bitcoin Law — El Salvador After Adoption
A Rocky Start for Bukele"s Bitcoin Law — El Salvador After Adoption The adoption of bitcoin as legal tender in El Salvador has been one of the biggest events in the cryptocurrenc
Rollkit Developers Leverage Bitcoin for Sovereign Rollups, Sparking Criticism from Ethereum Proponents
Rollkit Developers Leverage Bitcoin for Sovereign Rollups, Sparking Criticism from Ethereum Proponents The Rollkit development team has announced that Bitcoin has been integrated a
Britain’s public healthcare chief flags rise in crypto trading addiction
Jesse Coghlan6 hours agoBritain’s public healthcare chief flags rise in crypto trading addictionNHS boss Amanda Pritchard called for action, saying specialist clinics are seeing a rise in young people with crypto tradi
Prashant Jha3 hours agoCentralized exchanges will become gateways for DeFi: Finance RedefinedThe top 100 DeFi tokens had a mixed week, with most of the tokens continuing to trade in a similar range as the previous week.1
While Almost 80% of Russians Know Crypto, Only 6% Understand It Well, Survey Finds
While Almost 80% of Russians Know Crypto, Only 6% Understand It Well, Survey Finds The overwhelming majority of Russians in big cities are well aware of the term cryptocurrency but