Telegram Open Network (TON) Crypto to Launch During Q3 2019 According to Source
- Telegram's soon to be released blockchain ecosystem is quite similar to Ethereum’s and is designed to host a variety of unique decentralized applications.
- Earlier this February, an investor update report claimed that the TON project was nearly 90% complete.
- Some of the big name players that invested in Telegram’s ICO include Benchmark, Sequoia Capital, and Kleiner Perkins Caufield & Byers.
As per an internal note sent to Telegram’s core investor base, the firm is looking to deploy its Telegram Open Network (TON) by the end of Q3, 2019. In this regard, it should also be pointed out that there had previously been doubts surrounding the ability of Telegram’s executive brass to execute a crypto project of this magnitude.
However, as things stand, it appears as though the messaging giant has been successful in testing out an early version of its blockchain and consensus algorithm (as laid out in the official company whitepaper).
On the subject of testing, an insider source at TheBlock that wishes to remain unnamed at the moment was quoted as saying:
“This reaffirms our belief that the TON virtual machine and the TON … Byzantine consensus algorithm are capable of meeting the goals stated in the original white paper,”.
As many of our regular readers may remember, a representative for Telegram had earlier issued a circular claiming that the Telegram Open Network was 90% finished and that a test net launch could be expected in the coming few months.