Durov Sets TONe for The Industry. Blockchain Platform Is Almost Ready for Release

In April Telegram has granted access to several companies for the TON blockchain beta-test. Now each participant can install a blockchain node and test it.
According to participants they did not have enough time to conduct a thorough examination, however, so far they are impressed with the first results. For example, transaction processing in TON is much faster than in Bitcoin and Ethereum.

We know that smart-contracts have not been tested yet. According to the Telegram's last report of February, 2019 smart contracts have been ready for 20-50% depending on the type. According to the white paper testing period may take 3-6 months.

In order to define precisely the transaction speed the testing process will include examination of TVM (Telegram Virtual Machine) and blockchain performance on more than 100 nodes. By the end of the testing period Telegram needs to conduct audit and afterwards release the completed version of the platform and launch the economics module in three months.

In general TON is missing deadlines previously set in the Roadmap. Nevertheless, launch of the beta-test signalize about successful development process. However, it is possible that developers won't make it until October 31, 2019. If it happens contracts on TON tokens acquisition will be denounced.

Even if that would be the case, it is doubtful that the project will be suspended due to its importance and potential which allows TON to create new decentralized Internet.

Why TON Will Become the New Internet?

TON (Telegram Open Network) is a Telegram based blockchain network which can host unlimited number of private and public blockchains. Developers promise that the network will process up to 1 mln transactions. That is so much more compare to the regular blockchain like Bitcoin with 7 trns/s and Ethereum with 15 trns/s. It is even more in comparison with VISA and MasterCard.

There are going to be several modules that can make it look like a real decentralized Internet:

  • Telegram Passport - KYC system by Telegram allows users to get identified and authorized by services in a single click. Someone of you can say that Google has the exact same thing, however, in order to make payments in Google you need to link your bank card to the service, for TG you only need an account with a passport and internal Gram coins to make payments.
  • TON Payments - payment processing system with a Gram internal currency - it is stated that it is going to work faster than VISA and MAsterCard - more than 1 mln transactions per second.
  • TON Virtual Machine - TVM was developed for creation of smart contracts and preservation of intellectual rights.
  • TON Storage - service storage, it works like p2p torrents
  • TON Services - module for development and execution of decentralized apps and sites
  • TON Proxy - anonymizer and proxy server for bypassing of restrictions
As soon as these modules will be released, in TON it will be possible to develop analogues of websites and apps, to create data storages, to pay for services immediately, to close deals without any geographical restrictions imposed.

With such a number of functions and users (more than 220 mln in 2018) TON definitely will not fail.
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