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Telegram CEO Pavel Durov Arrest in France Sparks Polymarket Speculation Telegram CEO Pavel Durov Arrest in France Sparks Polymarket Speculation

TON Blockchain Exclusivity: Telegram’s New Crypto Strategy

Telegram announced an exclusivity agreement making The Open Network (TON) the sole blockchain infrastructure for its ecosystem.  

This decision marks a significant shift in Telegram’s blockchain strategy, reflecting its deepening relationship with TON, originally known as the Telegram Open Network.

Telegram Reveals TON Blockchain Exclusivity

The announcement follows a post on a globally popular messaging platform with over 950 million active users, highlighting its goal to deliver a seamless and secure user experience.

“We agreed with TON Foundation to make TON the exclusive blockchain partner of Telegram,” the statement read.

A parallel announcement via TON’s blog indicated that this standardization will be great for Telegram users, giving them a consistent, predictable experience and better protection against scams. Under the new arrangement, all Mini Apps and games on Telegram that incorporate cryptocurrency functionalities must migrate to TON blockchain. Of note is that there is a deadline for Mini Apps that do not use TON.

“All mini-apps on Telegram will now exclusively use TON as their blockchain infrastructure. All mini-apps that do not currently use TON should migrate by February 21, 2025. So let’s get on with it,” TON articulated on X.

Further, and in a statement reiterated by TON Foundation President Manual Stotz, TON Connect becomes the exclusive wallet integration protocol for all Telegram Mini Apps, except in bridging scenarios.

Telegram’s rekindled partnership with TON comes after years of separation. Initially developed by Telegram, TON project faced regulatory challenges and was handed over to independent developers in 2020.

Since then, TON Foundation has propelled the blockchain forward, recently partnering with Telegram to reintroduce features like TON Wallet app, crypto-based games, and in-app currencies such as Toncoin (TON).

In addition to enabling tokenization, payouts, and Mini App integrations, Telegram plans to leverage TON for novel projects, including minting tradable NFTs as in-app stickers. However, developers using blockchains such as Sui (SUI) and Aptos (APT) must migrate to TON or lose access to Telegram’s crypto features.

TON Foundation has committed to supporting this transition by offering grants of up to $50,000 to projects that migrate within a 30-day window. However, projects that previously received grants from the Foundation are ineligible.

Telegram Targets Reduction in Scams and Exploits

Telegram’s decision to consolidate blockchain activity under TON may also stem from security concerns. Recent reports from Scam Sniffer revealed a 2,000% surge in crypto phishing attacks on Telegram since November 2024. Scammers have increasingly exploited the platform’s open nature, targeting users with fraudulent schemes.

By centralizing crypto integrations within TON, Telegram could minimize these risks. The exclusivity will allow Telegram to enforce stringent standards for crypto functionality across mini apps, potentially reducing vulnerabilities and enhancing user trust.

Durov’s announcement stressed the importance of better protection against scams. This hints that the partnership with TON could serve as a bulwark against malicious actors.

“This standardization will be great for Telegram users — giving them a consistent, predictable experience and better protection against scams,” the Telegram post added.

Nevertheless, while the exclusivity deal presents a forward-looking strategy to streamline and secure Telegram’s blockchain operations, it also draws criticism. Developers reliant on other blockchains may face significant challenges transitioning to TON, especially with a tight 30-day migration window.

“…nothing says self-sovereign” like forcing people to use your system. Permissionless. Composable. Open. These are the standards of Web3. I had hoped Telegram was better than this. It wouldn’t be so bad if TON chain was decentralized and scalable,” UX and creative director at smart wallet firm Argent, Graeme Blackwood posed.

Disclaimer

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Lockridge Okoth

https://beincrypto.com/ton-becomes-telegrams-sole-crypto-infrastructure/

2025-01-22 10:00:00

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