Telegram tweaks its instant messaging service to allow global users to transfer cryptocurrency during chats. This new development depicts a throwback crypto-inclined project Telegram rejuvenated to allow its users to share cryptocurrencies without the need for inputting long text wallet addresses.
Telegram crypto tweak allows users to transact secured crypto payments via the Telegram platform in sync with the existing AI bot chat. Telegram’s announcement focused on the crypto payment on the custom chat service without addressing the previous Telegram custom token Telegram was developing during the previous pandemic era.
Telegram currently has more than half a billion active users sending instant messages across the world which depicts the crypto payment within the chat service as a widespread tweak. The Telegram community happens to be excited about the new crypto tweak but their insatiable expectations that anticipated the billion dollars open network project Telegram abandoned on May 12, 2022.
Telegram co-founder, Pavel Durov also confirm his company has abandoned the Telegram Open Network (TON) digital coin the instant messaging service spent $1.7bn to accomplish. Durov tagged the announcement “Telegram’s active involvement with TON is over” on its blog post regardless of the Initial Crypto Offering (ICO) Telegram raised in 2018 to monetize TON on Telegram’s chat service.
Recall Telegram abandoned the TON project because the American Securities and Exchange Commission (SEC) policy flagged corporate indulgence with the crypto market for security sake. Although the SEC failed to acknowledge the fact that Telegram’s TON project was developed as an open-source service that attracted the global crypto community to indulge in the reserved TON coin network the rest of the world thought its an abandoned project.
The Telegram Open Network project is developed with Open source code posing as an oversight network dubbed the TON Foundation that has reportedly supervised other subsequent TONcoin developed by third parties, such as New TON and Free TON. It is worth noting that the TON Chinese Community rejuvenated the TON project Telegram abandoned on the SEC’s influence.
The TON Foundation has reportedly developed Toncoin by Telegram which the instant messaging platform tweeted to the world. “You can now send #Toncoin directly within Telegram chats!” Telegram’s official Twitter page @ton_blockchain shared the announcement with the Web community. “It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.”
Watch the video and test the new feature!