Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
What do we know about the TON network and its launch?
There is less than a month left before the launch of the Telegram Open Network (TON), but investors know no more about the new project than the entire crypto community. The network testers explain that it lacks several important elements.
Telegram announced a competition for the development of smart contracts two weeks before the launch of the project and set a deadline of October 16. This means that the main element of the future network – the smart contract is not ready yet. The situation in this regard worries most investors. Note that some have invested several tens of millions of dollars in the project, and the company does not provide any reports and does not coordinate its actions, mostly people learn about the news of the project from the media. However, many people call Pavel Durov a pedantic person and do not doubt the quality of the project. So, what do we know about the TON project at the moment.
Telegram developers are working on creating a TON network that will be able to implement blockchain transactions in an application with an audience of 365 million. It is planned to launch a blockchain based on the PoS algorithm. If successful, it could become the most famous decentralized blockchain.
During the ICO, the developers managed to attract $ 1.7 billion, which Durov will have to pay back if the project is not launched. In April of this year, TON stress testing began. Experts believe that even in case of failure, the launch of the network will still take place on time. There was a leak of information that Telegram will return all investments if it does not add the Gram wallet to the messenger.
From the description of TON, it becomes clear that this is not just a fast blockchain, but a more nimble competitor to Ethereum and Bitcoin, besides decentralized.
Given that the majority of Telegram’s audience is located in the Russian Federation, the messenger may have problems due to blocking. Roskomnadzor is introducing new solutions to block the service, but there are opportunities to complicate the work of Roskomnadzor on the network. For example, the Firefox browser uses DNS over HTTPS (DoH) technology, which makes it difficult to calculate which sites a user visits. DNS can be connected even by a technically unskilled user, and other browsers, including Chrome, have already started working on it. On October 2, the official TON council announced the launch of its blockchain network in open access at the end of the month. The source code for the network has already been posted on the Bithub portal.
