wordpress blog stats
Connect with us

Hi, what are you looking for?

Telegram to release its cryptocurrency by October 31

Telegram Open Network
Source: ton.click

The messaging app Telegram is planning to send out the first batches of its digital currency, the Gram, within the next two months, according to a New York Times report. A test version of the Gram network will be released within the next two weeks. Gram digital wallets will be made available to Telegram’s 200-300 million global users, and Grams will make it possible to buy and sell other goods on Telegram. Telegram had raised $1.7 billion in early 2018 through its initial coin offering (ICO) through which Telegram promised investors future Grams. Grams need to be delivered to its investors by October 31, or Telegram would have to return the money to investors. Telegram’s ICO documents had said that initially 5 billion Grams will be released to users, NYT had earlier reported. The 81 investors who put in the first $850 million paid 37 cents for each gram. In its second fund-raising round, Telegram charged its 94 investors $1.33/token. Telegram has said that the Gram will operate with a decentralised structure similar to Bitcoin. How will the Gram work? According to the 132-page paper that Telegram had shared with investors in 2018 during its ICO, it is building a virtual currency network called Telegram Open Network, or TON through which users will be able send each other payments even when they are not in the same country. TON will use blockchain to maintain records of the Gram on computers globally. Unlike Bitcoin, TON’s blockchains will reportedly serve as the…

Please subscribe/login to read the full story.
Written By

Send me tips at aditi@medianama.com. Email for Signal/WhatsApp.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ