Cryptocurrencies

The journey of tech giants adopting blockchain technology is littered with failures. What

The journey of tech giants adopting blockchain technology is littered with failures. Just look at Meta, which abandoned plans to launch the Diem stablecoin after three years of chaos and backlash.

But there are positive points and very promising projects. The Open Network (TON) – formerly known as the Telegram Open Network – was created to improve one of the world’s most popular messaging apps. Although Telegram has declined due to regulatory issues, an independent community has stepped in to continue supporting the adoption and development of this leading network. A ton is born.

After years of poor interfaces and limited use cases, TON achieves what the industry has long been waiting for: allowing users to interact with blockchain and cryptocurrencies without even realizing it. And that only scratches the surface in exploring how this infrastructure can make the world a better place.

Why TON could be the ultimate solution to cryptocurrency adoption

TON is becoming increasingly important given how the platform has started to branch out beyond messaging. Inspired by Chinese giant WeChat, it is starting to look like a “super app” that offers everything a user needs in one place. Restaurants can now create “mini-apps” in Telegram that make their websites obsolete, giving customers an easy access point to services, while developers in other industries benefit from unparalleled flexibility thanks to JavaScript .

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The fact that these widgets offer integrated payment solutions is particularly optimistic given how they will help normalize cryptocurrency transactions like never before. TON integration helps ensure that every payment is transparent and tamper-proof. Telegram has long been a hub for cryptocurrency enthusiasts since its inception, but the app has now transcended into mainstream consciousness – a feat made all the more impressive considering it does little to no marketing.

“TON looks to be one of the biggest growths of this cycle.” Source:

There is a major barrier to entry here: ensuring that consumers and merchants do not have to deal with lengthy and confusing alphanumeric wallets. Countless cryptocurrency platforms have struggled to further penetrate the market as they have suffered from poor user experiences and only attract enthusiasts already in the industry. In contrast, Telegram creates a storefront for digital assets within an already widely used app, cultivating an ecosystem that allows users to do much more than just send messages when they’re ready to do so.

A big part of this puzzle is ensuring that the blockchain infrastructure supporting these cryptocurrency payments is adequate and able to scale. It would simply be a disaster if Telegram’s great interface was undermined by slow and costly transfers. The TON network solves this problem by offering fast transactions with low fees – expanding access to cross-border payments and ensuring that Telegram can provide Web3 services to the general public without controlling user funds.

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All of this represents an irresistible opportunity for developers already very accustomed to deploying widgets on WeChat. There are many similarities when leveraging TON and the ability to reach a diverse and engaged audience. The ever-increasing number of widgets in Telegram will create a positive feedback loop, attracting more users and enticing more businesses to seek a piece of the action.

Challenges ahead

Although TON’s merger with Telegram means it is in a strong position to become a larger blockchain network, this journey has not and will not remain without challenges. Fragmentation and siloing between networks has been a long-standing problem, and permanent connections with other blockchains will need to be established to ensure this super app can be enjoyed and used by a wide range of users. Focusing on a single token will reinforce this exclusion, although work is underway to establish connections between Telegram and EVM-enabled networks.

A common slogan in developer circles is “build it and they will come.” The case of Telegram here is a little different since it is already one of the largest applications in the world. Together with TON, it should aim to make cryptocurrency payments as easy as its messaging tool – and encourage existing users to try new features without alienating them.

Tim Delhaes He is the co-founder and CEO of Grindery, an EVM smart wallet with deep Telegram integration. He co-founded Grindery in 2018 and the company joined Binance Labs in 2022.

This article is intended for general information purposes and is not intended and should not be relied upon as legal or investment advice. The views, thoughts and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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