The path of tech giants embracing blockchain technology has been filled with setbacks. Take Meta, for example, which decided to scrap its plans to launch the Diem stablecoin after facing a tumultuous three years and significant backlash.
However, amidst these failures, there are shining examples of promise. The Open Network (TON), previously known as Telegram Open Network, was created to enhance one of the most popular messaging apps globally. While Telegram had to step back due to regulatory challenges, an independent community took charge, continuing to advocate for the adoption and advancement of this layer-1 network. Thus, TON came into existence.
After years of subpar interfaces and limited applications, TON is now achieving what the industry has long desired: enabling users to engage with blockchains and cryptocurrencies seamlessly. This platform is just beginning to explore the potential of how this infrastructure can contribute to making the world a better place.
Why TON may be the ultimate answer to crypto adoption
The significance of TON has grown as the platform expands beyond messaging services. Taking a cue from the Chinese giant WeChat, TON is evolving into a “super app” that offers users everything in one place. Restaurants, for instance, can create “mini apps” within Telegram, rendering their websites redundant and providing customers with easy access to their services. Additionally, developers across various sectors benefit from unparalleled flexibility thanks to JavaScript.
The integration of payment solutions within these mini apps is particularly noteworthy as it could revolutionize crypto transactions by making them more mainstream. TON ensures that each payment is transparent and tamper-proof, paving the way for a new era of crypto adoption. While Telegram has long been popular among crypto enthusiasts, it has now captured mainstream attention without significant marketing efforts.
Breaking down the barrier to entry
One of the key barriers to wider crypto adoption is the complexity of alphanumeric wallets for consumers and merchants. Many crypto platforms struggle to attract a broader audience due to poor user experience and a limited appeal outside of enthusiasts. In contrast, Telegram is providing a platform for digital assets within a widely-used app, creating an ecosystem that offers more than just messaging services.
Ensuring that the blockchain infrastructure supporting these crypto payments is efficient and scalable is crucial. TON’s network offers fast transactions at low fees, making cross-border payments more accessible and empowering Telegram to deliver Web3 services without controlling user funds.
An opportunity for developers
For developers familiar with creating mini apps on WeChat, TON presents an attractive opportunity. Building on TON is similar to the WeChat model, offering a chance to reach a diverse and engaged audience. As more mini apps populate Telegram, a positive feedback loop is created, drawing in more users and encouraging businesses to get involved.
Challenges on the horizon
While TON’s integration into Telegram positions it well to become a major blockchain platform, challenges remain. Fragmentation and silos between networks need to be addressed, and connections with other blockchains must be established to ensure widespread adoption. The focus on a single token could lead to exclusion, but efforts are underway to connect Telegram with EVM-compatible networks.
In conclusion, while TON has the potential to become a prominent blockchain platform, it must continue to overcome challenges and focus on simplifying crypto payments to attract and retain users. By working alongside TON, Telegram can make crypto more accessible and appealing to a broader audience.