This is part two covering TON: The Project The US Government Did All It Could to Kill Only for it to End Up Accomplishing its Goal. If you have not yet read part one you can find it here!
TON's Current Situation with Telegram
A critical thing that not many people were aware of was in the settlement with the SEC Telegram agreed to notify the SEC of issuing crypto assets for 3 years. This was agreed upon and accepted by the courts on June 26, 2020, which is why it should not be surprising to see Telegram's recent announcement integrating TON into Telegram's app. By waiting 3 years they made sure that even though they were no longer attached to this project they could not be dragged back into court by the SEC.
Since Telegram separated from TON (now called The Open Network) there has been significant development and deployment to the blockchain. TON is similar to Ethereum in that the blockchain end goal is to be a distributed supercomputer or "superserver". With TON blockchain serving as the backbone of the project, they have branched out into various areas successfully already. These areas include TON DNS, TON Storage, and TON Sites which together help address this decentralized future that TON wants to help develop.
Just a couple of weeks ago a homecoming occurred with Telegram Messanger integrating a TON-based self-custody wallet into its app. With over 800 million monthly active users this is a huge huge thing for not only TON but crypto overall! This addition did get a new name on the Telegram app called TON Space but as a built-in crypto wallet available in the Telegram app is a huge accomplishment!
It is safe to say that the integration occurring has factored into TON's pricing as it exploded and even entered the top 10 briefly overtaking Doge before giving up its gains and correcting back to the level it was previously at. Over the next few months, it will be extremely important to watch and see if Telegram is able to transition users on their messaging app into people who utilize TON and its integration. While it might have taken a while TON's development team needs to get some serious credit for saving the project and developing it to the point that Telegram integrated it. If it was something that was half-baked then there is no way that Telegram would have taken the risk but TON's blockchain has continued to develop and keep moving forward even in a bear market.
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to support me further below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
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