Telegram: the launch of TON despite the SEC
Telegram: the launch of TON despite the SEC
Blockchain

Telegram: the launch of TON despite the SEC

By Marco Cavicchioli - 27 Mar 2020

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The launch of the Telegram blockchain, TON, could still take place despite the stop imposed by the SEC

In fact, although the SEC has imposed a stop to the launch of the Gram token by the company Telegram, due to a hypothetical violation of the ICO-related regulations, TON remains an open and decentralized project from a technical point of view, not necessarily linked to the company. 

As such, the developers of the TON blockchain are considering to proceed with the launch of the platform anyway. 

TON Community Foundation (TCF) spokesman Fedor Skuratov said in a recent interview:

“The community was ready for this (or another) scenario. We have several options, including the launch of TON by TCF [TON Community Foundation]. I will say more, no one (no one) can prevent the launch of TON by any other entity, person or community, cause TON is a decentralized open-source solution. Already, there are two different test networks, and within the community, there is at least one group planning to launch”. 

The idea would be to proceed with a fork, in order to completely decouple the platform from the company and issue a new token. 

In this regard Skuratov adds: 

“The issue of what will be recognized as the core network (Mainnet) is a matter of community recognition exclusively. We are considering, among other things, the option in which we will negotiate with TON investors on the topic of converting their rights to Grams in the Telegram’s originally mentioned TON into rights for other Grams”. 

This would seem absolutely feasible from a technical point of view, since TON is an open-source project, and it may well be virtually unstoppable. 

Obviously, the fact that the company would be effectively cut out of the project this way, simply becoming one of the many stakeholders, is not necessarily welcomed by the company itself, although from a technical point of view it is difficult to imagine that it could actually intervene to block everything in case it disagrees. 

If this fork actually takes place, the mainnet will be available for use long before the original project’s mainnet, but the allocation of the new tokens could be controversial. 

In theory, such a fork should replicate the previous chain by assigning the new tokens to the same owners as the old tokens on the original chain, but since there is no original chain on the mainnet yet, the whole matter is still unclear.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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