- The network will be launched in the third quarter of 2019.
- TON will work together with Wirecard to develop digital financial products.
Encrypted messaging service Telegram has recently reported the launch its Telegram Open Network (TON) in the third quarter of 2019. Telegram stated that a recent successful test process “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.” Similar to Ethereum, Ton will host decentralized applications.
Earlier in April, Telegram opened access to a private testing version of the TON blockchain to chosen developers. Anonymous test developers reported the blockchain demonstrated “extremely high transaction speed.”
In February, an apparent purchase agreement for Telegram’s Gram tokens — the TON network’s native digital currency — declared that such contracts would be rendered null and void if the network does not launch by October 31, 2019. TON’s development team has recently collaborated with Wirecard, a German financial service provider, who will work together to develop digital financial products.