1. BITBILIHome
  2. Article

Telegram integrates TON Space wallet, boosting Web3 adoption

• 189 views

TL;DR Breakdown

  • Telegram has integrated TON Space, a self-custodial crypto wallet, into its platform, making it accessible to its 800 million monthly active users.
  • The integration marks a significant milestone for both Telegram and The Open Network (TON), especially considering Telegram’s previous legal challenges related to TON.

Description

Telegram, the popular messaging app, has integrated TON Space, a self-custodial crypto wallet, into its platform, making it accessible to its 800 million monthly active users. The announcement is a significant stride for both Telegram and The Open Network (TON), as it brings TON one step closer to its original vision: enabling users to have … Read more

Telegram, the popular messaging app, has integrated TON Space, a self-custodial crypto wallet, into its platform, making it accessible to its 800 million monthly active users. The announcement is a significant stride for both Telegram and The Open Network (TON), as it brings TON one step closer to its original vision: enabling users to have their own identities and assets.

The integration allows Telegram users to access the wallet through the app’s settings, according to an announcement by the TON Foundation.

The TON Space wallet had already garnered 3 million registered users as a standalone bot within Telegram. With this integration, the wallet is expected to be rolled out to all Telegram users outside the U.S. by November. The development follows Telegram’s previous partnership with TON Foundation, which aims to enable digital ownership rights for Telegram’s extensive user base.

A comeback story for TON

The integration is particularly noteworthy given Telegram’s history with TON. In 2020, Telegram had to abandon the TON project after facing a lawsuit from the U.S. Securities and Exchange Commission (SEC). The SEC had accused Telegram of raising $1.7 billion through an unregistered initial coin offering using a token called Grams. To settle the matter, Telegram refunded unused investor funds and paid an $18.5 million fine. Since then, TON has operated as an open-source community project.

The integration of TON Space into Telegram serves as a new infrastructure layer for the TON ecosystem. As part of the launch, Telegram will also provide priority access for TON projects and partners to its global advertising platform, Telegram Ads. 

John Hyman, Telegram’s chief investment officer, stated that the partnership aims to put digital ownership rights in the hands of Telegram’s entire user base. This move could potentially be the largest Web3/Web2 partnership to date, according to Hyman.

It is expected that this development could positively influence the adoption of Web3 technologies. By integrating a self-custodial crypto wallet, Telegram is not only diversifying its service offerings but also promoting the broader adoption of blockchain technology. The move is also likely to attract a wider range of users to the TON ecosystem and could serve as a blueprint for other messaging platforms contemplating similar integrations.

Following the announcement, TON’s price surged by nearly 7%. At the time of writing, TON is trading at $1.93, according to CoinMarketCap. Toncoin is also the 11th largest digital asset, with a market cap of about $6 billion.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Telegram integrates TON Space wallet, boosting Web3 adoption

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月13日 19:19
Next 2023年9月13日 20:00

Related articles

  • Australia inflation drops to 4.9%, strengthens argument to extend pause

    TL;DR Breakdown Australia’s inflation rate dropped to 4.9% in July, fueled by reduced holiday travel and fuel costs. Markets predict a 99.5% likelihood that the Reserve Bank of Australia (RBA) will not increase interest rates for the third consecutive month in September. Australian dollar and bond futures responded to lower-than-expected inflation figures, indicating a more nuanced economic situation. Description In July, inflation in Australia dropped to its lowest point of 4.9% in 17 months, mainly due to reduced holiday travel and fuel costs. Even the core inflation measure, which looks at essential price changes, showed a decrease, which suggests that there might not be a need to increase interest rates. Consequently, the markets adjusted … Read more In July, inflation in Australia dropped to its lowest point of 4.9% in 17 months, mainly due to reduced holiday travel and fuel costs. Even the core inflation measure, which looks at essential price changes, showed a decrease, which suggests that there might not be a need to increase interest rates. Consequently, the markets adjusted their expectations and now believe with a 99.5%…

    Article 2023年8月30日

  • ​​Aptos price analysis: APT devalues up to $8.41 after facing a loss

    TL;DR Breakdown Aptos price analysis is bearish today APT/USD is facing resistance at $8.63 Bearish momentum is slowly taking over today The Aptos price analysis indicates that the bears are once again taking the lead after overcoming a bullish strike. The trend is once again bearish for cryptocurrency, as the latest update shows that the bears are taking the price levels down. This has resulted in a decrease in coin value up to $8.41, and the momentum is strong enough to reduce it further in the future. Nevertheless, the bears have availed their chance by winning back momentum after a bullish return. The digital asset has lost nearly 0.61 per cent of its value in the last 24 hours, and it remains to be seen if the bulls can turn things around. The Market for  APT/USD opened at $8.49 today, and buyers pushed the price up to a high of $8.63 before losing momentum as the sellers took control.  The trading volume has also been low, which suggests that the market is not in favour of buyers at this time….

    Article 2023年5月20日

  • Crypto’s CoinShares goes hard for U.S. investors

    TL;DR Breakdown European crypto giant CoinShares is venturing into the U.S. market with a new hedge fund division, CoinShares Hedge Fund Solutions. The move is in response to the increasing demand for crypto products from U.S. investors. Lewis Fellas, the division’s head, acknowledges the volatile nature of the crypto landscape and its evolving demands. Description Ah, CoinShares. Just when you think the European titan had flexed all its crypto muscles, it unveils a move that’s turning heads and raising eyebrows. The company’s latest venture? Diving headfirst into the turbulent waters of the U.S. crypto market with a new hedge fund division, aptly named CoinShares Hedge Fund Solutions. It’s a gutsy … Read more Ah, CoinShares. Just when you think the European titan had flexed all its crypto muscles, it unveils a move that’s turning heads and raising eyebrows. The company’s latest venture? Diving headfirst into the turbulent waters of the U.S. crypto market with a new hedge fund division, aptly named CoinShares Hedge Fund Solutions. It’s a gutsy move, especially considering the present regulatory stormclouds hovering over American skies. Taking…

    Article 2023年9月23日

  • FTX Exchange Administrators Clash with Creditor Panel Over Asset Control

    TL;DR Breakdown FTX’s administrators have criticized a creditor panel, accusing them of prioritizing control over the exchange’s assets without considering all stakeholders. The dispute emerged after a draft reorganization plan was proposed, with the creditor panel suggesting investment in short-term Treasuries and a structured approach to managing FTX’s crypto holdings. Description The bankruptcy saga of the once-mighty FTX crypto exchange took another twist this week. The exchange’s administrators have publicly criticised traders and market makers on a key creditor panel. The bone of contention? Allegations that these traders are more interested in controlling FTX’s assets than considering the broader implications for all stakeholders involved. This dispute … Read more The bankruptcy saga of the once-mighty FTX crypto exchange took another twist this week. The exchange’s administrators have publicly criticised traders and market makers on a key creditor panel. The bone of contention? Allegations that these traders are more interested in controlling FTX’s assets than considering the broader implications for all stakeholders involved. This dispute comes on the heels of a draft reorganisation plan proposed last month by FTX’s new management…

    Article 2023年8月10日

  • UN Secretary-General champions the regulation of AI technology

    TL;DR Breakdown UN Secretary-General has called for the regulation of generative AI amid concerns over misuse. European Parliament passes AI technology legislation. Generative AI, the latest form of artificial intelligence, has ignited high-level discussions among world leaders, prompting the UN Secretary-General António Guterres, to join the growing chorus of voices advocating for the regulation of this technology. Guterres expressed deep concern over the potential dangers posed by generative AI, comparing it to the existential threat of nuclear war. UN Secretary-General proposes the regulation of AI technology In a press conference held on Monday, Guterres highlighted the alarming warnings from scientists and experts about the risks associated with AI. He emphasized the need for swift action and urged the international community to take these warnings seriously. To address this issue, Guterres announced his intention to establish an AI advisory board comprising experts and scientists from the International Telecommunication Union (ITU) and the Educational, Scientific, and Cultural Organization (UNESCO). Coinciding with Guterres’ statements, the United Nations released a report titled “Information Integrity on Digital Platforms,” which underscored the importance of responsible AI…

    Article 2023年6月18日
TOP