Telegram aligns with crypto’s ethos of decentralization and privacy. It also boasts a vast user base that far surpasses that of competitors like Signal.
In January alone, Telegram saw over 36.7 million downloads, a figure ten times that of Signal, demonstrating its massive and growing reach. Let’s explore more about this important news for the Open Network.
TON and Telegram: Pioneering Crypto Adoption
TON is an ambitious blockchain project designed to leverage Telegram’s large user base. It aims to foster a decentralized ecosystem capable of supporting a wide array of applications. The ecosystem comprises several components, including TON Blockchain, TON Storage, TON DNS, and TON Services. All are designed to work seamlessly together to enhance user experience and functionality.
The TON Thesis
Today, we're announcing @PanteraCapital's investment in @ton_blockchain – Telegram’s Layer 1 Blockchain, which we believe will lead the next wave of crypto adoption.
Here is the thesis https://t.co/giTZookllC
— paul.nft (@veradittakit) May 2, 2024
The TON ecosystem taps into Telegram’s innovative design and substantial user engagement. With over 360 million active users monthly interacting through what are termed as “Mini Apps”. These apps encompass everything from chatbots to mini-games, making the platform both versatile and interactive. For instance, earlier this year, tools like BonkBot allowed for trading memecoins within Telegram, generating tens of millions in revenue.
TON-based applications like StormTrade now enable trading across various assets. These include cryptocurrencies, stocks, and equities through Telegram’s user-friendly interface.
Earlier this year, tools like @bonkbot showcased the potential of Telegram as an interface for trading.
TON-based applications that enable trading within the Telegram interface, such as @storm_trade_ton, are beginning to do tens of millions of dollars in daily trading volume. pic.twitter.com/SOpzAWAinu
— paul.nft (@veradittakit) May 2, 2024
The platform’s potential for vast user engagement is already being tested with early experimental games like Pixels and Fanzee Battles, which have rapidly attracted millions of users.
These ventures underscore the platform’s capacity to not just attract but also retain a large, active user base keen on exploring new forms of digital interaction. You can see the entire report here.
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