Telegram CEO Pavel Durov noted the success of decentralized domain names a few months ago, and he notably announced that Telegram could 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 offer usernames via The Open Network (TON) blockchain to its users thanks to a dedicated market place. As stated Pavel Durovthe CEO of Telegram, last August, these names will be sold using technology similar to non-fungible tokens (NFTs).
These are so over 700 million users who will be able to acquire their username on the blockchain via smart contracts similar to those of NFTs. A few months ago, Pavel Durov spoke about the potential that this system could have on Telegram after TON proposed decentralized domain names like 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 moment, the smart contract that will serve as a structure for this market place is in free audit on GitHub in order to be checked by the developers who wish it. They will be able to receive a reward ranging from $200 to $50,000 if they manage to detect an error in the code, the bonus being of course 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 had plans to interfere in Web3 by launching a digital payments platform dedicated to its messaging system, in addition to being able to eventually host decentralized applications (dApps) on its blockchain.
In 2018, Telegram managed to raise no less than $1.7 billion in a private sale of TON tokens. Later, in October 2019, the United States Securities and Exchange Commission (SEC) sued Telegram, accusing him of proposing an offer of unregistered securitieswhich is considered 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 to abandon the project, the latter is far from wanting to abandon blockchain technology, as evidenced by the announcement we are talking about today.
The TON token was not indifferent to the announcement, its price having immediately climbed by more than 12% following the latter :
TON token price over 24 hours
Finally, no specific date has been announced for the release of this marketplace for Telegram, but it should be soon, according to the various announcements from the team in charge of the project.
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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