Telegram CEO Pavel Durov noticed the success of decentralized domain names a few months ago and notably announced that Telegram may offer similar services. This is now done, as Telegram users will soon be able to purchase usernames via the TON blockchain.
Usernames via the TON blockchain
instant messaging app Telegram will soon be offering usernames via The Open Network (TON) blockchain. to its users thanks to a dedicated market place. As indicated Pavel Durovthe CEO of Telegram, last August, these names will be sold using a technology similar to non-fungible tokens (NFT).
These are like that over 700 million users who will be able to acquire their username on the blockchain through smart contracts similar to those of NFTs. A few months ago, Pavel Durov spoke about the potential this system could have on Telegram after TON proposed decentralized domain names such as the Ethereum Name Service (ENS).
Indeed, at that time, the operation had met with great success. The domain name “casino.ton”, for example, sold for over $200,000.
For the time being, the smart contract that will serve as the framework for this market place is under free audit on GitHub to be verified by developers who wish to do so. They will be able to receive a reward ranging from $200 to $50,000 if they can detect an error in the code, the bonus is obviously proportional to the seriousness of the error in question.
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Telegram and the Web3
Initially, when TON (which then stood for Telegram Open Network) was created, Telegram was planning to interfere in Web3 launching a digital payments platform dedicated to its messaging system, as well as eventually being able to host decentralized applications (dApps) on its blockchain.
In 2018, Telegram managed to raise no less than $1.7B in Private Sale of TON Tokens. Subsequently, in October 2019, the US Securities and Exchange Commission (SEC) sued Telegram, accusing him of proposing an offer of non-named securitiesconsidered a crime.
Thus, under pressure from regulators, Telegram finally abandoned the project, which was taken over by developers who continued to develop the blockchain, which was later renamed “The Open Network”.
However, since Pavel Durov was forced out of the project, the latter is far from wanting to abandon the blockchain technology, as evidenced by the announcement we are talking about today.
TON Token was not indifferent to the announcement, its price immediately jumped more than 12% following the latter :
TON token price over 24 hours
Finally, a specific date for the release of this marketplace for Telegram has not been announced, but it should be soon, according to various announcements from the team in charge of the project.
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