Telegram Open Network (TON) Explained
Telegram, with support of decentralized applications, proxy servers and DNS's, will be using the fifth generation of blockchain to introduce a new currency. TON, built on the top of blockchain technology, will allow developers and publishers to earn GRAMs and use them to transact. Unlike Bitcoin and Ether that use proof-of-work mechanism for validating transactions, TON uses proof-of-stake algorithm that promises the fastest transaction speed ever experienced in crypto-world. The TON blockchain will include a master chain and 292 side chains. Telegram held two rounds of ICO's to attract investors. In the first round, Telegram raised $850 million as 2.25 billion tokens were sold, each for $0.38. In the second round, 2.96 billion tokens were sold each for $1.33, making Telegram to raise $2.55 billion from ICO! TON will be integrated within Telegram messaging app.
telegram open network