The Telegram, famous social media messenger, is ready to enter in the cryptocurrency field. Telegram’s blockchain project TON is going to test ethereum compatibility. According to the source, the company will make public the code to test run on Telegram Open Network (TON) on Sunday.
Telegram Open Network
TON Labs, a startup funded by investors in the company’s token sale, is making so many tools for programmers to build the new TON network. Among these tools, a solidity compiler is a useful tool. Alexander Filatov, TON Labs CEO, said that this tool will permit decentralized applications made for ethereum will also run for TON.
According to Filatov, the built compiler has been testing for two months. It is the main difficult thing and it will permit the most advanced Ethereum community into TON.
Last Test Net Series
As the schedule, TON will be launch by October, 31. If the Telegram doesn’t launch, the company will refund to investors as per agreement. As a result, this Sunday release is the last test net series of releases.
For TON, this Sunday’s code release is very crucial and the most important for the TON.
As per TON’s CEO view, they have a very brief time between test net and main net. It is hard to identify and fix the bugs in the network.
In the past May 2018, Telegram collected $1.7 billion for TON project. This project claims that the transactions will much faster than the bitcoin and also ethereum blocks.
As time goes on, some people are thinking that the TON plans are not working type. But, the venture capitalists will not stop from the program. At present, the company has already released the plans to investors. It will release the first part of Gram token in the coming two months.
TON Project
In the project, there were so many delays in actual plans. As per schedule, TON should test in 2018 second quarter. But, it didn’t begin until April of the current year. As per resources, the participants, who took part in the testing node, got so many issues.
It advocated by the professionals that, the project should test as a minimum of 100 nodes. Hence, it will give the exact scalability of this project.
As per plans, the company should launch the working blockchain by Oct 31, 2019. As per the agreement, if it fails, the company will return money to the investors.
So, Filatov states that this test code very much important for the TON rollout.
However, the project should meet some deadlines and will pass this Sunday test node. The company will release the first bunch of TON’s cryptocurrency Grams. As per company announcement, it will give 200 million users access rights to GRAM wallets.
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