However, there is one disheartening information, the generated income is to be shared among the investors, since there is no ICO parse due to the reported cancellation.
Whether the Telegram messaging app and the TON ICO will be banned from the state remains to be seen. Telegram, prior to this time was not intended to acquire revenue, the platform says it will never sell ads or accept outside investment. Once TON is integrated with Telegram, a clear path is opened for millions to adopt cryptocurrencies and interact with them every day. In his words: “Telegram is not a dominant messenger in any country except for Iran.
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- 52% Development
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The $1.7 Billion raised by Telegram is not a small fund.
In addition, it is known that the project has already attracted $850 million from private investors. Telegram will use its expertise in encrypted distributed data storage to create TON, a fast and inherently scalable multi-blockchain architecture. The cryptocurrency being used in the network will be known as Telegram Open Network (TON) coins or Grams. Telegram did not respond to a request for comment from The Independent.
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But why exactly are high rollers jumping at the opportunity to board the Telegram ship?
Messaging app Telegram has accumulated $1.7 billion through its initial coin offering (ICO) second-round presale event, reaching that mark after a staggering $850 million first raised in its first round. Back in February, it was reported that the Telegram or TON ICO managed to raise close to 1 billion USD. The next closest offering was a Tezos token sale, they raised $232 million last year. Enter Telegram, which is also known as TON—an acronym that stands for Telegram Open Network.
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There have been lots of different rumors about Telegram (TON) ICO for a long time.
Telegram was regarded a scam, but it is becoming a big market, suddenly. Thanks to its Telegram application, TON will leverage the popular messaging app’s existing network of developers, publishers, communities, merchants, and payment providers. What is already known - the project is going to create its own blockchain technology, which is supposed to surpass most of the competitors. We’re not building a “user base”, we are building a messenger for the people,” the platform had said in the past.
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That amount of active users makes the potential for the TON cryptocurrency on its network something to watch.
TON, or Telegram, is the ecosystem that will be built to streamline the exchange of information and value. The yielding result of Telegram’s ICO which many branded as a scam is surprising. One, Telegram is becoming a base for cryptocurrency breaking news. Considering the recent war on ICO on Google and other social platforms, Telegram messaging app has benefited from the recent trend the most.
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Telegram was making headlines back in February during their first ICO pre-sale when the company raised $850 million from 81 investors.
The company has been expected to hold a third round of funding, and reports have varied regarding how much Telegram plans to raise in total. This is a big boom for Telegram, a messaging app that has not made a dim before its ICO was released. Furthermore, Telegram will offer a range of streamlined interfaces for TON. Apart from being used for buying physical and digital assets within Telegram, TON coins are meant to perform any of the following tasks. Join Our Telegram Channel Cryptona.co is a popular news resource devoted to cryptocurrencies, the blockchain, and new technologies. The document submitted to the SEC reported that Telegram’s second sale raised $850 million from 94 investors. The President of Iran, Hassan Rouhani did not entirely support the proposal to ban Telegram.