Telegram Open Network Proceeded to Closed Testing Stage

Telegram Open Network Proceeded to Closed Testing Stage

 
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Some Russian and foreign blockchain engineering teams have gained access to the Telegram Open Network platform (TON), according to several unnamed sources close to the project, Vedomosti reported on Thursday.

Sources clarified that selected testers got an option to install a TON node. First tests allegedly showed “extremely high transaction speed”. One interlocutor noted that the testing will “allow studying the properties and willingness of the network, what transactions and how fast it will be able to conduct.”

No other details about the platform were provided by now.

Telegram Open Network is the blockchain project initiated by the Russian entrepreneur Pavel Durov. In 2013, he rolled out a Telegram messaging application. Until 2014, Durov was the CEO of Russia’s most popular social network VKontakte but was eventually forced to resign as a result of a corporate conflict. According to the media reports currently, VKontakte is considering the creation of a custom cryptocurrency, but the final decision is yet to be made,  Corporate sources confirm that this project may allow crypto storage for all current users of the social network.

Meanwhile, by the end of 2018, the global audience of Telegram has reportedly exceeded 200 million users. After the Telegram denied to cooperate with the Federal Security Service (FSS, the KGB successor), it was prohibited in Russia as well. Still, this could not prevent the popularity of the messenger in the country. In 2018, in the course of two rounds of closed ICO TON raised $1.7 billion to develop the project. In November last year, Newconomy informed that the TON is 70% complete.

Also read: Major Russian Social Network Seeks Ways to Adopt Cryptocurrency