Telegram users now can send via Toncoin, the cryptocurrency built off of Telegram’s abandoned blockchain effort, directly from chats within the messaging app.
TON (The Open Network), announced that Telegram now supports Toncoin transactions with no fees attached, and added a video showing how crypto transactions work on the platform on Twitter.
Telegram shut down its own cryptocurrency operations, the Telegram Open Network (TON), which was developed by Telegram CEO Pavel Durov and his brother Nikolai in 2018, after facing pressure from the Securities and Exchange Commission (SEC) in 2020.
A year later, the SEC ordered Telegram to halt its sales of Gram, the token linked to the TON blockchain, after saying it failed to register the $1.7 billion in sales collected as part of its pre-Initial Coin Offering (ICO). Afterwards, a group of developers kept it afloat, renaming it The Open Network and rebranding Gram as Toncoin.
Durov expressed his support of the project last December, saying “I’m proud that the technology we created is alive and evolving… TON is still years ahead of everything else in the blockchain realm.”
Earlier this month, the TON Foundation managed to raise $1 billion in donations.
Source : The Verge