The new blockchain project will be available from September 1, which means that Pavel Durov will keep his promise to launch TON by October 31, 2019.
Following the 2017 cryptocurrency boom many IT companies launched the development of their own blockchain projects. Telegram’s development team has not stayed on the sidelines, either. TON (Telegram Open Network) promises to become the fastest messenger-based cryptocurrency system that raised $ 1.7 billion in investment setting a record among blockchain startups. Durov is planning to create a new ecosystem equivalent to Visa and MasterCard in terms of transaction speed.
TON has a roadmap that details its main stages of development, testing and full-fledged network launch. According to the plan, the development of TON should enter public testing stage in the autumn. It should be noted that Pavel Durov has promised to return the money to the investors if the network was not launched by October 31, 2019.
On the whole, the development progress was kept secret, but a few leaks indicated that the project team was behind the schedule. For example, the close-ended test phase was delayed for more than six months.
Apparently, the investors and other stakeholders who are waiting for TON to launch have nothing to worry about: according to the information published by Vedomosti newspaper, the tests will begin on September 1, 2019, when the company publishes the source code for the network nodes and documentation. The New York Times has learned that the first Gram tokens will be available within two months following the launch.
The public testing should show whether TON can really compete with Visa or MasterCard. The project team is working hard to meet the upcoming deadline.
Open-ended testing will allow the developers to test transaction speed and the reliability of network nodes. Close-ended testing used a light blockchain version, which did not allow the developers to assess how scalable the system would be.
When TON issues its first tokens for public use, investors will not sell their part of the tokens for some time. In that case, regular users will be able to exchange Gram on exchanges were the new cryptocurrency will be listed.
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