PRESS: Telegram to start testing blockchain platform by Dec

MOSCOW, Oct 16 (PRIME) – Telegram Open Network (TON), a blockchain platform of popular messenger Telegram, is 70% ready and will be launched in a trial mode by December, business daily Vedomosti reported on Tuesday.

Telegram, which is blocked in Russia, pulled in U.S. $1.7 billion by selling newly created cryptocurrency, the Gram, to less than 200 private investors in February and March, or $850 million in each round. Head of instant payment service Qiwi Sergei Solonin, who contributed $17 million, was among the investors.

TON is a blockchain platform designed by Telegram founder Pavel Durov’s team, which promised that the platform would process transactions faster than Bitcoin and Ethereum and would be able to rival payment systems Visa and Mastercard by speed.

Telegram promised its users will get a wallet integrated with the messenger’s applications.

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