Telegram Open Network Set to Launch In Third Quarter Of 2019
The Telegram Open Network (TON), a blockchain developed by messaging app Telegram, is reportedly set to launch in the third quarter of this year.
Telegram has reported a successful testing process for its blockchain and consensus algorithm, as it “met the goal of its original TON white paper.” The network reportedly entered its private beta in April of this year to Russian developers.
Citing an unnamed source, news outlet TheBlock reports that Telegram claimed the testing period “reaffirms” its belief that “the TON virtual machine and the TON … Byzantine consensus algorithm are capable of meeting the goals stated in the original white paper.”
In February of this year, Telegram revealed through an investor update that TON was 90% complete. It was reported that during its beta testing phase developers were able to set up TON blockchain nodes and test transactions. According to some, Telegram’s Open Network will have to launch by the end of October for token purchase agreements to remain valid.
The network is said to have shown “extremely high transacting speeds.” The blockchain will let users create decentralized applications (dApps) powered by its native GRAM token.
Blockchain is really going a long way as an emerging technology.