TON Blockchain and GRAM Cryptocurrency: All the Valuable Information on the Internet
Telegram messenger is significantly different from similar communication platforms, but what exactly differs it so much? Why are Pavel Durov’s projects so popular and why is the GRAM cryptocurrency so unique for investors? Unique features and comforts, of course, are present, but by and large, everything is plus or minus comparable to competitors. So what is the secret to the success of this messenger and the subsequent ICO GRAM?
Please note that GRAM cryptocurrency is not yet traded on exchanges and does not have its own token-ticker, but millions of cryptocurrency investors around the world already want to buy it. It is worth remarking that the creators have very little time left to launch their grandiose project, the fact is that if the TON blockchain and the GRAM coin do not start working by October 31, 2019, then Durov will have to return $1.7 billion to investors.
In this article, we will tell you in detail about the future GRAM cryptocurrency, find out what it is like, talk about where you can buy it now, and also discuss what the future holds for it. So, let’s start.
A short history of the Telegram messenger
Before moving directly to our current topic, let’s first find out what Telegram messenger is, as it has a direct connection with the GRAM cryptocurrency that has not yet been released.
The history of Telegram begins in 2013 in St. Petersburg, when two brothers, Pavel and Nikolai Durov, completely left the VKontakte project and began to develop their own instant messenger. This project was originally aimed at protecting the personal data of users but then became known and popular around the world.
It should be understood that at that time it was already quite crowded in this niche since all the main competitors captured large market percentages:
- international Whatsapp and Viber;
- Chinese Wechat;
- Korean Kakao talk, etc.
But despite this, Telegram was able to grab attention and gain recognition from a wide audience. As soon as possible after the launch, the messenger overcame the mark of 100 thousand users, in February 2016 their number increased to 100 million. At this time, Telegram entered the top ten messengers with the largest number of active users around the world.
Important features of the Telegram messenger
- Accent on message encryption.
- The presence of bots that greatly simplified the lives of users.
- Channels — another feature that competitors either don’t have or is poorly implemented.
The specific nature and features of ICO Telegram
At the moment, the project is more than five years old and until recently, it existed exclusively on money allocated by its founder, Pavel Durov. According to various estimates, the annual content of the project cost him approximately $70 million. All this time the messenger did not monetize in any way, there was no advertising or any other additional services.
For a long time, people wondered how exactly the creators are going to earn on their rather popular product, but on February 13, 2018, everything became clear. On this day, an application for the ICO Telegram Open Network was filed to the Securities and Exchange Commission (SEC).
In the first round of closed presale, the project managed to raise $850 million and attract 81 investors. A similar picture developed in the second round, that is, the total amount of investments amounted to 1.7 billion US dollars. The project was so popular that Durov had to refuse many who wanted to invest in his brainchild since the total number of received applications was $3.8 billion.
Durov and the team spent the received funds on the development of the innovative TON blockchain and GRAM cryptocurrencies, as well as on operating expenses for the maintenance of the Telegram messenger. The main distinguishing feature of the organizers is the leading policy, which is fully determined not in words, but in practice to defend the privacy rights of users. The popularity of the project is directly related to the categorical position of the organizers who refuse to comply with the requirements of law enforcement agencies and provide correspondence to their users. By the way, precisely because of this, the Telegram messenger was blocked on the territory of the Russian Federation in April 2018.
What is TON? In fact, this is a huge ecosystem with a huge number of services that function: from payments to file storage. The architecture of the TON platform will include several levels of protection that can prevent any attempts to establish state regulation. In addition, the GRAM cryptocurrency will work on the Ethereum blockchain, which makes it more universal.
TON blockchain platform testing
After a loud announcement in February-March last year, there was practically no news from the developers until May 2019. It was then that the creators of the Telegram messenger sent a letter to all investors, where they shared details about how the TON blockchain platform is being tested.
Active tests of the platform began in April, and its launch is scheduled for the III quarter of 2019. It is worth noting that this is a rather risky move, as already mentioned above, it is too close to the deadline — October 31, 2019. But let’s talk in more detail about what the TON blockchain is from a technical point of view.
Developers strive to make not just a convenient, fast and reliable blockchain — they want to create a real ecosystem that can surpass the familiar web. There are not only ordinary services and applications but also site analogs, as well as something remotely resembling browsers in the TON ecosystem. In addition, external services will be able to integrate into TON, and special gateways are provided for it.
The TON blockchain will include a huge number of services, but for the vast majority of users, the main payment system will be TON Payments. Also, developers are actively working on the implementation of a service that will convert the addresses of the blockchain platform into a convenient readable format called TON DNS. Most likely, we will see the storage of TON Storage files, bots that will work without human intervention and much more.
One of the key factors of this project is its unique processing speed, which is capable of conducting millions of transactions per second. That is, in theory, hundreds of millions of people will be able to use the TON Payments service at the same time. This feature makes the project the most promising for future growth.
Another thing Durov brothers are literally obsessed about is the security and privacy of users. The most modern elliptic cryptography schemes were used in the development of TON, as well as a new programming language that was created exclusively for this project — Fift.
What will the platform look like for the end-user?
According to the data from the provided technical documentation, we can conclude that the developers thought out the infrastructure of their brainchild quite well:
- Work with external applications will be carried out through special gateways. In addition, hybrid applications will appear that can work both in the TON blockchain and beyond (the so-called “fog services”)
- Technically, the Telegram messenger will become a TON service, and TON Payments and TON Proxy will become “fog services”
- In TON Payments, you can simultaneously have an inactive wallet and not lose funds transferred to it. Such transfers will simply wait in the wings and will be delivered at the very moment when the user activates the wallet. This feature will allow launching the global TON network gradually in different markets.
What is the state of development?
As of the end of May of this year, the virtual machine was almost completely ready, all the low-level procedures, as well as the blockchain client, which still needed to be integrated directly into the Telegram messenger. No newer data are known yet.
The technical documentation did not list the types of standard smart contracts — from deposits to auctions. Therefore, at the moment this is the main task of the developers since without this it will be impossible to build a crypto-economics of the product. But apparently, there is still a lot of work on the project, as the team still requires developers.
Where to buy GRAM cryptocurrency?
Since this coin has not yet been issued by developers, it is not yet possible to officially purchase it. To buy a GRAM cryptocurrency, you need to wait for its official release, but at the moment there are several potential options for the indirect purchase of a GRAM coin. But you should be extremely careful since due to the popularity of this project on the Internet, there are a huge number of scammers, so before you transfer your money to anyone, check the information carefully, preferably using several sources.
On March 13, 2019, all users of the Xena cryptocurrency exchange got access to the derivative of the Gram coin. Of course, this is not a coin from the brothers Durov, in fact, it is a perpetual contract with the exchange, according to which the latter undertakes to provide the holders of these derivatives with the GRAM cryptocurrency at a pre-fixed rate as soon as it appears in the public domain.
Note that in a short period of time the value of this contract rose four times (from $2.1 to $8.4). The exchange has introduced additional systems to protect sellers and buyers from losses in the case of sudden changes in the market rate uncontrolled by the exchange. In fact, this opened up access to the possible purchase of a GRAM coin to all Xena users and, as a result, the following sharp rise in the value of the proposed derivative.
In June of this year, the well-known TechCrunch published news that said that starting July 10, it would be possible to buy GRAM on the little-known Liquid cryptocurrency exchange. In addition, it was announced that the number of tokens that will be offered here is unlimited.
The fact is that the Japanese Liquid Exchange entered into a partnership with Gram Asia (the largest token holder), which wished to get rid of these assets before the official release of the network. They set the price at $4 per token. If you want to buy GRAM cryptocurrency on the Liquid exchange, then you should know that there is a possibility that you risk not getting it at all. The fact is that by contract investors of ICO Telegram are prohibited from selling or transferring rights to tokens until the official release of the TON network under. Violation of this rule may cause the cancellation of allocation, in other words, buyers in the secondary market may not receive the purchased tokens.
Employees at Gram Asia could not explain their next steps in this scenario. But Liquid representatives said that the sale of GRAM tokens in the secondary market is carried out with the participation of a guarantor, and Gram Asia will not receive payment until it provides coins.
Decentralized Blackmoon Crypto Exchange
It became known recently, the cryptocurrency of Pavel Durov should appear in the near future on the decentralized Blackmoon platform — the exchange representatives informed. Unfortunately, there are no details on the coin listing timing, most likely this will happen after the official launch of TON.
According to preliminary data, Blackmoon users will be able to store the GRAM coin on exchange wallets, as well as trade in tandem with many other cryptocurrencies and even fiat money.
Blackmoon has partnered with the Swiss company Gram Vault, which will become the supplier of this cryptocurrency asset on the exchange. The uniqueness of the Blackmoon exchange offer lies in the possibility of acquiring GRAM using bank cards. For their part, representatives of the platform said they believe in the potential of the TON blockchain and will contribute to the liquidity of the GRAM coin in every way. It is worth remarking that the creators of Blackmoon have direct contacts with the top management of the Telegram messenger, which significantly increases the chances of the truthfulness of this news.
Telegram’s ICO was the biggest news event in the cryptocurrency industry in 2018. Now, in early September 2019, the informational noise around the official release of this project is again getting started. The fact is that the creators are obliged to launch the TON blockchain and the GRAM cryptocurrency by October 31, 2019. It appears that in the near future we will see more details regarding this project.
In theory, the TON blockchain should take the cryptocurrency industry to a whole new level, since in the case of a successful network launch, hundreds of millions of new users will immediately join the digital economy. Some market participants predict that a few weeks after the launch the Pavel Durov`s cryptocurrency will replace Ripple from an honorable third place in the global rating of digital coins. Others relate to this project with a certain skepticism and do not particularly believe that GRAM will be able to enter the TOP-10.
Well, we just have to wait a bit, since the day X is very close, and if you do not want to miss such an important event, then subscribe to us on social networks and stay tuned on our website. We always try to release the latest and newest information from the world of cryptocurrencies.