Telegram begins private beta testing of blockchain, records high speeds
After months of anticipation, Telegram has finally launched a beta testing of its blockchain. The Russian messaging platform has been developing its Telegram Open Network (TON) since 2018.
According to a report by Russian outlet Vedomosti, Telegram only opened the testing to a limited number of developers across the world. The outlet cited two Russian developers, both of whom were selected to participate in the beta. They revealed that the selected developer teams were all able to set up TON blockchain nodes.
The testing has only been ongoing for a short time. However, in that short time, the developers claimed that the TON blockchain has demonstrated a very high transaction speed. The sources couldn’t reveal more outcomes as most of the code was still in testing.
As CoinGeek reported in February, Telegram was closing in on the launch of the TON testnet, promising its investors that only minor changes would be made before it was launched. This was despite Telegram having initially promised to launch it last year.
Telegram has been a mainstay in the messaging industry for the past six years. Founded by two Russian brothers, its focus on privacy attracted many users especially at a time when encryption was becoming a necessity in the messaging services industry. Telegram especially gained prominence in its home country of Russia. However, it collided with Russian authorities last year, leading to a ban in its biggest market. The Iran government followed suit shortly after, saying Telegram was undermining the government’s efforts in reviving the economy.
Despite these hurdles, Telegram conducted what was the record-highest ICO ever. The ICO was in two stages, altogether collecting $1.7 billion, more than five times the previous record. EOS later broke Telegram’s record with its year-long ICO collecting $4 billion.
Despite multiple reports from Russia stating that the TON blockchain would launch mid this year, Telegram hasn’t made an official statement. However, the firm, which is registered in the British Virgin Islands, may not have much of a choice on when to launch the TON blockchain. According to one report, if it fails to launch by October 31, 2019, the purchase agreements for its Gram tokens will be nullified.
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