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Posted September 9,2019 in Science and Technology.
All of you know about Telegram is one of the fastest and largest growing social network evenly using in messaging apps also. Which now be used for the first time to make transactions with cryptocurrencies. Telegramraisedalmost $1.7 billion in two private token sale rounds. It is second only toEOSrecord-breaking $4 billion ICO.
How Telegrams announced backed ICO:
When the launch of theTelegram Open Network (TON)initial coin offering (ICO) was announced back in December 2017, the blockchain industry sat up and took notice, in a big way. At the time, not only were Telegram among one of the first companies with an existing andsuccessful non-blockchain productto suggest launching an ICO; but more importantly, Telegram were already well regarded in the crypto industry as being the go-to platform forICO community buildinginitiatives and messaging.
How ICO introduced TON and GRAM
TON ICO hard cap was raised to$1.7 billion, met shortly after, at which point the Telegram ICO was closed prematurely. In fact, Telegrams raise ended before it ever reached its public sale phase. But despite Telegrams early end to their ICO raise, theTON platform still became the second most successful ICOby amount raised inhistory.
However for some investors, to whom theICO public phase was closed, the opportunity to invest in GRAM, the Telegram Open Networks proposed native token, was scarcely recognized.
An Introduction about Telegram Open Network(TON):
TON will feature its own native chain, called the TON Blockchain, and likewise its own cryptocurrency, the GRAM coin; along with the TON virtual machine for smart contracts, and its own consensus mechanisms.
TONswhite paper, which was reportedly distributed among investors around January 2018, the TON platform will be much morescalablewhen compared tobitcoinandethereum. The TON platform will allow it to compete with giantsvisaandMastercardin terms of transaction speed.
To achieve high such levels of scalability, TON purportedly relies on built-in support for sharding, a process that allows the splitting and merging of blockchains automatically tostreamline transactions under increased loads.
Additionally, TON employs a technology called instant hypercube routing, as per the recent report, which also aims to ensure that transactions are processed swiftly notwithstanding the size of the system.
An introduction about GRAM:
GRAM coins are like the native unit of crypto exchanges for the TON blockchain, it just like ETH is to Ethereum. Telegrams native coin will be used for many activities within the blockchain platform, such as payment fees, micro-payments, giving access to decentralized applications, and TON platform attaches its value to messages which have been sent through the existing Telegram Messenger app.
When Telegram launched their private ICO, it was offered to investors through a SAFT agreement for GRAM tokens.
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