Libra from Facebook and TON from Telegram, the two cryptocurrencies that will define the future of Blockchain technology.
Which will be imposed on the other?
Currently, within the crypto world there are two projects that raise passions and comments. The first of these is the famous virtual currency of Facebook, Libra, which was announced in mid-June as a revolution within the crypto world.
And, that of Facebook would be a virtual currency different from any other, with the support of more than 25 world class companies gathered in an organization known as The Libra Association, and a way of operation that could end up placing a huge financial power in the hands of these companies.
Therefore, it is not surprising that governments around the world have shown their concern over what, according to their vision, would be a direct threat to their monopoly on monetary policy, as Facebook and its partners have control over a currency that although they promise that they will administer in a transparent way, already in the past they have shown that they can break their promises.
The second of the projects that seek to shake the crypto world is the Telegram Open Network (TON), the network that will support the cryptocurrency promised last year by Telegram, the Gram, whose code will be released this Sunday, September 1, so that Users can start running Blockchain nodes.
If Facebook came to the crypto world promising a change according to its parameters, suggesting what could be a turnaround in the conception of the Blockchain, from decentralization to the concentration of power in a group of large companies, Telegram is the opposite.
And, while Facebook seeks to position Libra above the other virtual currencies, displacing them, Telegram comes with a different conception, focused on decentralization, protection of user information and collaboration between crypto projects, which allows improving the Blockchain technology operation and its positive effects in the real world.
Therefore, what we already see in the world of instant messaging, where Whatsapp, owned by Facebook, should face an application that prioritizes user privacy such as Telegram is repeated within the crypto world.
The last of the movements made by Telegram to strengthen its network, with a view to the future development of its cryptocurrency, is the announcement of the compatibility between TON and Ethereum, so that all the innovations developed by Ethereum's programmers can be applied to the Telegram Blockchain, creating a higher level of integration between the two block chains.
This gives us an idea of Telegram's intentions for its cryptocurrency, and that is why we chose this as our Data of the Day in Crypto Trend, since as the events unfold, the advances made by Telegram and Facebook in their respective projects will have a vital importance to define the future of Blockchain technology.
