TON - is the crypto currency expected to be the largest ICO in history to be superior to Bitcoin or Ethereum?

TON is the crypto currency of Telegram, the world's leading security messaging application today. Thanks to the combination of centralized and decentralized blockchain, TOn can handle 1 million transactions per second to reduce costs to low levels and consume less power when digging cryptocurrency.

Telegram is planning to issue its own crypto currency through the largest ICO ever in the coming time, the proceeds from the previous ICO offering can reach 500 million USD and the total price Tokens can amount to huge amounts, from 3 to 5 billion USD.

Pavel Durov, CEO and co-founder of Telegram is keen to launch a completely new blockchain platform - considered the third generation, after Bitcoin and Ethereum. He hopes this platform uses Telegram's 180 million users to be universally applied, beyond the limits of pre-coding. Thanks to Telegram's current scale, it will become the king of other cryptocurrency.

Telegram's crypto currency will be called 'Gram'. Thanks to its close association with Telegram's chat application, this crypto currency can be widely adopted immediately.

Since a completely decentralized network cannot expand as quickly as the network has some centralized elements, Durov decided to combine both centralized and decentralized infrastructure to create a platform. blockchain for Telegram.

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Switching to a decentralized blockchain platform has helped create an entirely pre-encrypted economy within the application and helps Telegram isolate itself from attacks and accusations from countries like Iran, where This application accounts for 40% of internet traffic but is temporarily blocked. To retain the users of this country, Telegram has almost maintained its political balance.

WeChat but with pre-coding

Telegram aims to develop TON into a pre-coding platform, similar to WeChat. This application will act as a default payment mechanism for many people in China when it has expanded out of the scope of a chat application.

A decentralized platform like TON can help quickly implement various payment services such as in WeChat and provide more security and resiliency benefits.

Sources say that Telegram plans to launch a wallet that allows users to hold both Telegram and regular currencies.

Telegram has a developer ecosystem around it, where bots and services will be provided by third parties to help TON support anything the developer brings.

Inside TON

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Telegram has outlined a four-stage plan:

1. 'TON Services': This is where third-party services can do anything on smartphones, such as user-friendly interfaces for decentralized applications and smart contracts.
2. 'TON DNS': is a service that assigns readable usernames to accounts, smart contract services and network nodes that make access to decentralized services possible like ' See a website on the World Wide Web.
3. 'TON payment' is a platform for small payments and a small payment channel network, which is used to target 'instant value conversion between user bots and other services.' Safeguard builds into a system designed to ensure these transactions 'secure as chain transactions.'
4. The 'TON Blockchain' will consist of a main string and two other bundled blockchain (2-to-power-92). It will have an 'Infinite Sharing Paradigm-unlimited sharing model' to achieve scalability. This helps the newly created TON blockchain quickly reduce transaction costs to low levels.

TON's blockchain can maintain top speed even when it grows because of the 'Instant Hypercube Routing' design. Also thanks to the 'proof-of-stake' approach, it will reach consensus through a variant of the 'Byzantine Fault Tolerant' protocol, which increases the speed and efficiency again.

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TON can grow new valid blocks above any incorrectly proven block to avoid any unnecessary branching using the distribution ledger 2-D Distributed Ledgers.

TON's third generation blockchain will be based on a dynamic 'proof-of-stake' algorithm, guaranteed by numerous parties with high-level error tolerances. It will also handle storage of IDs, payments and smart contracts. Therefore, Telegram will rely on a new way, consuming less energy than the original Bitcoin method to dig up cryptocurrency rather than relying on 'proof-of-work' to create its own money.

With a set of users available to 180 million people, TON will be able to perform a huge number of transactions, about 1 million transactions per second. This will turn it into a 'connection string' with the so-called 'dynamic sharding'.

Take control

The prospectus showed that the Telegram development team will use about 4% of Gram's supply (about 200 million Grams) with a 4-year recall period. And to protect Gram-encoded money from speculative transactions and maintain its flexibility Telegram will retain 'at least 52%' of the entire supply of Gram-encoded money. The remaining 44% will be sold on external exchanges and used within the Telegram application.

Telegram External Secure ID identity system, followed by TON's MVP (Minimum feasible product) will be released in the first quarter of this year. Expected in the fourth quarter of 2018, Telegram Wallet wallet will be released. The creation of TON-based economy may be launched in the first quarter of 2019. And in the second quarter of 2019 TON Services will launch the rest.

See more:

1. What is Bitcoin? Why is Bitcoin not "virtual money"?
2. How to interpret bitcoin that your grandparents can understand
3. Why is the price of bitcoin so high?