Telegram Open Network(TON) recently announced that the telegram app has rolled out Crypto payment capability. Telegram has more than 500 million active users currently. They are now allowed to buy cryptocurrencies, send them and trade them to other wallets by downloading telegram’s official wallet bot.
The TON foundation said in a statement that they expect this functionality to expand into consumer-to-business payments which can allow users to quickly purchase services and products by sending Toncoin using the bots. You can very quickly enable Crypto payment in Telegram by following the methods below. A tweet made by the TON foundation, a non-profit, showed a short video which explained how crypto payments work on the platform. The foundation announced last week that it had raised as such as one billion US dollars in donations to enhance the development efforts.
• Steps to follow:
Firstly, users need to open the telegram Messenger App and search for the official wallet there. Uses can pull up the wallet by running the command /start and attaching it to the menu. Next you need to search for the name of the recipient you want to send, confirm all the details there and then press send. The intended recipient will receive the Toncoin through the chat.
The bot has already been used by 800000 accounts and has processed more than 52 million transactions with over 486000 wallets, according to TON foundation. The company tweeted that it is a new way to send Toncoin without any transaction fees to any Telegram user. You will no longer need to enter long wallet addresses and wait for confirmation with this service.
The CEO and co-founder of telegram, Pavel Durov recently revealed that the TON blockchain technology is still in development after the company officially abandoned the project the previous year. This new development came swiftly after this announcement. He seems to be proud of the technology that they have created which is evolving and alive. Durov said in a telegram article that TON is still years ahead of everything else in the blockchain space when it comes to speed and scalability. Durov and his brother Nikolai had developed the project jointly earlier.
The app aimed to explore Web3 with decentralized storage last year. This was called TON blockchain. As mentioned earlier, the project got abandoned in 2019 after it ran into a controversy with the US exchange commission and securities accusing Telegram of a law violation of securities. It was forced to shut down its own cryptocurrency operation including Gram, the native token in 2020.
Durov expressed the hope that future generations of developers would some day carry on with their vision of a mass-market blockchain platform.
In the meantime, Twitter has added functions to enable users to tip with cryptocurrency. Like Jack Mallers’ stripe app, it also relies on third-party payment providers.
Besides this, Telegram is also offering other brand new features like reply to forwarded messages, auto-delete menu in profiles, pause notification for specific duration and others. We hope all these developments prove to be beneficial to the users.