An internal memo sent to investors reportedly said that the network would launch later this year. Telegram purportedly said that a recent successful test process “reaffirms our belief that the TON virtual machine and the TON …
Byzantine consensus algorithm are capable of meeting the goals stated in the original white paper.»
Encrypted messaging service Telegram will purportedly launch its Telegram Open Network (TON) in the third quarter of 2019, according to crypto news site The Block.
In April, Cointelegraph reported that Telegram opened access to a private testing version of the TON blockchain to a select number of developers. Anonymous test developers said the blockchain demonstrated “extremely high transaction speed.”
The TON network will supposedly host decentralized applications, similar to the Ethereum network.
In February, an apparent purchase agreement for Telegram’s Gram tokens — the TON network’s native digital currency — stated that such contracts will be rendered null and void if the network does not launch by October 31, 2019.
Telegram was founded by the brothers Nikolai and Pavel Durov in 2013. The firm raised almost $1.7 billion in two private initial coin offering rounds last year. The platform boasts over 200 million users.
Last month, TON’s development team has partnered with German financial services provider Wirecard. TON Labs will work with Wirecard to develop digital financial products.
Telegram Introduces New Programming Language for TON Network
Privacy-focused encrypted instant messaging service Telegram has created a new programming language for its Telegram Open Network (TON), according to a post on the project’s Telegram channel published on May 23.
The post introduces a new language called Fift that is specifically designed for developing and managing TON blockchain smart contracts, and interacting with the TON Virtual Machine (TVM).
TVM, in its turn, executes smart contract code in the TON blockchain, supporting all operations required to parse incoming messages and persistent data, and to create new messages and modify persistent data. The document provides a brief overview of Fift, including the language’s basics and TON-specific operations, among other issues.
The release follows a recent report, stating that Telegram plans to launch TON in the third quarter of 2019. The TON network will supposedly host decentralized applications, similar to the Ethereum network.
The eventual release of TON has been highly anticipated in the crypto and blockchain communities, as Telegram — which boasts over 200 million users — raised $1.7 billion in two initial coin offerings last year.
Telegram reportedly launched a private beta testing of the TON blockchain to a limited number of global developers in April. While testing did not provide any specific outcomes, two anonymous testers revealed that the TON Blockchain demonstrated an “extremely high transaction speed.”
Also in April, TON partnered with German financial services provider Wirecard to develop new digital financial products.
