Telegram, the messaging giant which took the cue from Facebook to veer into the cryptocurrency and blockchain world, is finally ready to make its mark. According to a press release, the encrypted messaging application will work with cryptocurrency platform Liquid for the public sale of Telegram Open Network [TON].
The TON Blockchain is a decentralized network curated specifically for the GRAM token issue, which will be offered to retail investors via a public sale hosted on Liquid’s platform. The designated date for the sale of GRAM is July 10.
It should be noted however, that the July offering will be on a limited basis, and only in October will the full public sale be organized. Countries which presumably, may not be privy to the sale of GRAM are the United States, Japan and South Korea.
GRAM can only be purchased via the US dollar [USD] or the Circle and Coinbase stablecoin USD Coin [USDC], according to the press release. In order to participate in the sale, interested parties are required to have a “verified and funded” Liquid account.
Liquid, the cryptocurrency platform, will operate wallets that are compatible with TON, allowing GRAM transfers. The token will be delivered following the launch of the TON public mainnet, which is scheduled for October 31, 2019. The token sale’s proceeds will be in the hands of the exchange and will be refunded if the TON mainnet does not launch, added the press release.
Telegram is building up excitement within the blockchain and cryptocurrency sector through TON, which is hailed as an “inherently scalable decentralized multi-blockchain architecture,” and a “mass-market cryptocurrency project.”
Private beta testing for the blockchain began in April, with reports pointing to the network displaying “extremely high transaction speed.”
Mike Kayamori, CEO of Liquid, stated,
“The TON Blockchain infrastructure can help enhance Telegram’s current capabilities as a peer to peer network of value, with the launch of their cryptocurrency light wallets for Telegram’s highly engaged user base.”
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