Telegram founder Pavel Durov’s team is about to launch Telegram Open Network (TON), Vedomosti reports.
The platform is currently 70% ready for operation. The developers promise that it will be faster than the platforms of the major cryptocurrencies, Bitcoin and Ethereum. TON will be as fast as Visa and Mastercard in terms of payment speed.
Durov’s crypto wallet may become most common in the world. The Gram currency will compete with Bitcoin and Ether or even outperform them.
This year, Telegram raised $1.7 billion from investors who were eager to invest into the blockchain platform. Last summer, the company launched Telegram Passport, a system authorization service. It takes one upload of the user’s ID to use all Telegram services and authorize on various websites and services that require identity verification an unlimited number of times.
This data will be later transferred to a single distribution cloud and their owners will be able to use the Gram crypto currency that will become a payment method on TON.