Telegram is a cloud-based mobile and desktop messaging app with a focus on security and speed.
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Rating Insights
Telegram (TON) intends to leverage its expertise in encrypted distributed data storage to create TON (Telegram Open Network), an all-encompassing decentralized network solution including a unique multi-blockchain architecture, a peer-to-peer network, distributed file storage, a third-party service layer with standardized interfaces, a micropayment platform, network proxy, DHT, and DNS. TON is designed to be fast and inherently scalable, so as to be capable of hosting a new generation of cryptocurrencies and decentralized applications.TON will allow easy integration with third-party messaging and social networking applications, the primary integration being with the Telegram Messenger. TON light wallets will be built into Telegram applications, which will then also double as TON clients. The TON tokens which will serve as the principal currency on the platform and in Telegram’s in-app economy will be called Grams.
Telegram declares itself as uniquely positioned to establish the first mass-market cryptocurrency by providing a platform that combines speed and scalability, intuitive user interfaces, and an engaged user base. The team will rely on its cumulated experience to create light wallets, exchanges, and identification services that will allow users to get on board with cryptocurrencies in an intuitive way, and will leverage its existing ecosystem of communities, developers, publishers, payment providers, and merchants to drive demand and value for TON cryptocurrency.
Disclaimer: Pending official TON website for finalizing the review
Product
The Telegram Open Network (TON) is meant to be a fast, secure, scalable, and user-friendly blockchain and network project. “One might think about TON as a huge distributed supercomputer, or rather a huge “superserver”, intended to host and provide a variety of services.” TON is comprised of the following components:
• TON Blockchain — a flexible multi-blockchain platform, capable of processing millions of transactions per second, with Turing-complete smart contracts, upgradable formal blockchain specifications, multi-cryptocurrency value transfer, support for micropayment channels and off-chain payment networks.
• TON Network — a peer-to-peer network.
• TON Storage — a distributed file storage torrent-like technology, accessible through the TON Network, used by the TON Blockchain to store archive copies of blocks and status data (snapshots), and also available for storing user or service files.
• TON Proxy — a network proxy/anonymizer layer, similar to the I2P (Invisible Internet Project), used to hide the identity and IP addresses of TON Network nodes if necessary.
• TON Services — a platform for arbitrary third-party services, residing in and available through TON Network and TON Proxy, with formalized interfaces enabling browser or app interaction for decentralized apps and smart contracts.
• TON DHT — A Kademlia-like distributed hash table used as a “torrent tracker” for TON Storage, as an “input tunnel locator” for TON Proxy, and as a service locator for TON Services.
• TON DNS — a service for assigning human-readable names to accounts, smart contracts, services and network nodes.
• TON Payments — a platform for micropayments and a micropayment channel network. It can be used for fast off-chain value transfers, and for paying for services powered by TON Services.
The TON Blockchain will support up to 2³² different basic coins (each of which can have several additional tokens as well). The fundamental TON coin will be called Gram. Telegram will offer streamlined interfaces for TON transactions and TON’s primary integration will be with the Telegram Messenger. Telegram’s existing ecosystem will offer simple ways of buying and spending Grams via its Bot Platform and a TON-based ad exchange, allowing for trade in cryptocurrencies, paid promotional advertising, paid content and subscription services, virtual storefronts, etc. Telegram will also offer a searchable registry of available decentralized services, with lists and recommendations, similar to Google Play / App Store. Grams will also be used as gas paid to validator nodes, stakes deposited by validators, capital lent out to validators, voting power on protocol parameters, as well as payment for use of TON platform components and services (unless these are rendered free by the application owners). In addition, Telegram aims to provide users with a secure universal ID via registration on its platform.
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