The Russian media outlet Vedomosti reported today that the development of the “TON” blockchain had reported significant progress on the “TON” project.
The project — lead by the famous instant messaging app Telegram — is a blockchain that intends to become the decentralized and censorship-resistant network where Telegram will live in the future.
According to the article that the Russian website published 70% of the development process is already complete and that the testing will start this autumn. The project’s token, Gram, claims to manage millions of transactions per second, being able to complete transactions in milliseconds.
A successful ICO
The private sale of the TON ICO was so successful that the public sale has been — according to the website — “cancelled due to the market crash and legal reasons.“ Still, with $1.7 billion raised, there is sure no lack of funds to develop what the platform already claims will be the most adopted cryptocurrency in the world.
The world is holding its breath to see what the final product will be capable of since it has been first announced. “Old-school” cryptocurrency fans are quite interested since Pavel Durov and Telegram are highly focused on censorship resistance, privacy and since they already have stepped on the toes of some governments without stepping back ever since.