Telegram is set to enhance its messaging app by incorporating mini-apps and the Tether stablecoin, allowing its 900 million users to seamlessly engage in peer-to-peer interactions. This move will introduce many users to cryptocurrency for the first time, without them even realizing it.
Moreover, developers will benefit from the integration as they can now launch ecommerce, paywalled content, games, and other business activities on top of The Open Network’s (TON) layer-1 blockchain more smoothly, thanks to the stablecoin. Justin Hyun, the TON Foundation’s director of investments, discussed these developments with Cointelegraph’s Ezra Reguerra at the Token2049 conference in Dubai. Additionally, Telegram is continuing to roll out its TON-based wallet.
Hyun believes that the introduction of Tether on TON will “unlock the creator economy” already present on the platform, as users will no longer need to acquire different types of cryptocurrencies or tokens. This seamless integration of products will eliminate the need for downloading external apps, providing clear advantages. Hyun cited the example of the Catizen game, which gained 2 million users within two months of joining TON, compared to 600,000 users over the previous year and a half when it was on a different blockchain.
Unlike other social media platforms that are highly regionalized, TON’s global reach and native USDT eliminate the need for local payment gateways. This makes it possible for Telegram to bypass payment restrictions imposed by Google and Apple. In essence, TON is returning to its original vision, which was hindered by its inability to hold an initial coin offering in 2020 due to opposition from the United States Securities and Exchange Commission. The TON Foundation, established in 2021 by open-source developers who took over the project, is now working towards fulfilling this vision.
In conclusion, Telegram’s integration of mini-apps and the Tether stablecoin will enhance the user experience by allowing seamless peer-to-peer interactions. Developers will also benefit from the smooth integration of business activities on TON’s blockchain. This move aligns with TON’s original vision and enables the platform to expand its global reach while bypassing payment restrictions imposed by major tech companies.
Users will be pleasantly unaware of the crypto nature of the new Telegram mini-apps due to their remarkable convenience.
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