It has been reported that the creator of Telegram has plans to incorporate “a little Web3 into Telegram in the next several weeks.”
The creator of Telegram, Pavel Durov, announced that he will think about NFT usernames and other Web3 features in the next weeks.
Durov has a significant amount of content on his YouTube channel devoted to discussing the completely decentralised layer-1 blockchain. He asserted that Telegram (TON) was the first company to develop it and that it is predicated on domain name and wallet auctions.
Last but not least, he mentioned that the messaging programme could be able to do an auction similar to TON’s by registering particular groups, usernames, and channel URLs on the blockchain utilising NFTs.
But how exactly will the features of Web3 increase people’s ability to communicate with one another?
The blockchain-based domain name services Solana Bonafida and Ethereum Name Service have benefited tremendously from Unstoppable Domains’s presence (a popular blockchain naming system provider and identity platform).
Rather than relying solely on subscription services and advertisements, these NFTs might be able to profit from the Telegram platform by establishing bespoke group, username, and channel links. This would be in contrast to the more traditional model of relying solely on subscription services and advertisements.
The creator of the social media website said that the platform is “ready to try out TON” since it is familiar with the way that blockchain technology operates.
The developers of the messaging app were the ones who initially developed the open network. It is now possible to send and receive Toncoin, the cryptocurrency used by the firm, just utilizing the app.
Despite the fact that TON and Telegram have a few policies that differ from one another. In 2018, the company pulled out of a TON blockchain project as well as an initial coin offering (ICO).
A number of potential investors expressed interest in the proposition. Lightspeed Capital and Benchmark were two of them, and together they had guaranteed a total of $1.7 billion in funding. However, in light of a legal dispute with the United States Securities and Exchange Commission, the initiative was scrapped (SEC).
After the chat application on TON was abruptly taken offline for maintenance, a considerable number of other organizations stepped up to take over the project.
The objectives of the programme are independent of social media at this point. Now, Durov intends to employ TON for his next marketplace, which he claims will bring “a little bit of Web3 to Telegram in the following weeks.”
Let’s wait and see whether Telegram and TON’s rumored plan to work together to build new Web3 services actually materializes before making any judgments.
Toncoin is utilized within the TON network (TON). The Onion Router (TON) is a layer-1 distributed blockchain. Layer-1 is the protocol stack’s initial level. It is the blockchain’s fundamental structure or architecture.
Because it is expandable, TON can support “billions of users.” This issue is addressed by the way TON employs blockchain sharding, which employs many blockchains inside the same network for governance, transaction recording, and so on. The three types of chains that comprise the TON network are the master chain, the work chain, and the shard chain.
This distributes the network’s effort across many chains and reduces the number of blocks that must be confirmed. Ethereum plans to introduce sharding in the near future, joining other major blockchains such as Zilliqa.
TON uses PoS technique to validate transactions. Validators, also known as nodes, employ proof of stake to ensure that transactions are legitimate. Because it is more stable, proof-of-stake (PoS) has replaced proof-of-work (PoW) in a number of blockchain networks.