Telegram is Going to Launch the Largest Pre-ICO Ever: $500 Million Dollars

· 08 Jan 2018 in Crypto News, Home

Another record for the cryptocurrency world. Now it comes side by side with the messaging application Telegram. This app is preparing the biggest Pre-ICO in its history in order to fund a blockchain platform and a cryptocurrency named Telegram Open Network (TON).

Telegram – The Messaging App with the Biggest Pre-ICO

Telegram wants to create its own Initial Coin Offering to increase the potential of its network and to include a cryptocurrency into its chat application. According to different sources contacted by TechCrunch, TON will be a ‘third generation’ blockchain with superior capabilities than Bitcoin or Ethereum.

It is an important step for the ICO industry. Telegram is an enterprise that has a developer team behind, that is already established and that has created several products before. With this new cryptocurrency, Telegram will be one of the biggest independent payment systems all over the world.

UseTheBitcoin reported on this Initial Coin Offering in December. According to Pavel Durov, Telegram’s co-founder, the messaging application is being used by the blockchain community as a whole and it is famous among cryptocurrency owners.

Besides that, the ICO is going to accept fiat currencies instead of cryptocurrencies as it is usually done. Bitcoin and Ethereum will not be allowed to buy TON tokens, but only US Dollars and possibly other fiat currencies. Different enterprises are paying attention to this ICO, for example, Mail.Ru Group, the fund that bought Durov’s last company VKontakte.

More than a Cryptocurrency

WeChat offers the possibility to pay for different services and products in China, and it is heavily used by several individuals and enterprises. The main difference with Telegram is that WeChat is a very centralized platform compared to Telegram. A decentralized platform as TON would offer other possibilities. More privacy for the users, a more reliable service, and increased security. In addition to it, TON will integrate Cryptocurrencies and fiat currencies.

According to the company, TON will be more than just a cryptocurrency but will allow for further developments on the Telegram platform.  

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