Wednesday, September 27, 2023

Telegram Now Lets Users Send Cryptocurrency Via TON Blockchain Spin-off

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With Telegram, users can now access Toncoin, the cryptocurrency built on Telegram’s abandoned blockchain effort, directly from chats in the messaging app (via protocol† In a post on TwitterTON (The Open Network), announced that Telegram now supports Toncoin transactions at no cost.

TON has added a short video showing how crypto transactions work on the platform. To get started, you need to add Telegram’s Wallet bot to your attachments menu, which allows you to “buy, exchange and transfer cryptocurrency by bank card to other wallets”.

When you are ready to send crypto, you can pull the Wallet from your attachments menu while in a chat, enter the amount of Toncoin you want to send, confirm all the details and then click ‘Send’. Your recipient will receive the Toncoin via chat.

In 2020, Telegram shut down its own cryptocurrency operation under pressure from the Securities and Exchange Commission (SEC). Originally known as the Telegram Open Network (TON), the project was developed in 2018 by Telegram CEO Pavel Durov and his brother Nikolai. A year later, the SEC ordered Telegram to stop selling Gram, the token linked to the TON blockchain. , after it said it had failed to register the $1.7 billion in sales as part of its pre-Initial Coin Offering (ICO).

Even after Telegram left the TON project, a group of developers kept it afloat, renamed it The Open Network and turned Gram into Toncoin. Durov expressed his support of the project last December, noting, “I’m proud that the technology we’ve created is alive and evolving…TON is still years ahead of everything else in blockchain.” Earlier this month, the TON Foundation managed to Raising $1 Billion in Donations

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