Telegram cluster opposition., the encrypted electronic messaging platform, has completed its second initial coin providing (ICO) — the world’s largest — conveyance the quantity raised to $1.7 billion. The ICO was command to assist establish the wire Open Network (TON), a “fast, scalable, and user-friendly” cryptocurrency and blockchain platform.
In addition to the $850 million wire raised in Feb of this year, $850 million has been raised from ninety four investors this month. Further, the corporate “may pursue one or additional sequent offerings,” Brits Virgin Islands-registered firm expressed in a very filing with the U.S. Securities and Exchange Commission (SEC).
The company, supported by self-exiled Russian Pavel Durov, plans to use the ICO take to develop the TON blockchain, which incorporates its in-house cryptocurrency, the Gram. It aims to alter dealings speeds quicker than the Bitcoin and Ethereum blockchains — mistreatment multi-blockchain technology — and will ask for to contend with international payment processors Visa and Mastercard, consistent with wire documents. the whole offer of native TON tokens (Grams) can equal five billion.
Interest within the wire ICO has recently helped the corporate surpass the edge of two hundred million monthly active users, “with over 700,000 new users sign language up day after day.” the corporate comes that it'll have one billion users by 2022.
According to Telegram’s written report, Q2 and Q3 of this year can see the launch of the TON “Test Network,” and well as “Testing and Security audits.” In Q4, the “Stable Version” of TON are deployed and therefore the “Telegram Wallet” are launched. For 2019, in Q1, wire plans to form the “TON-based economy,” and Q2 can see the launch of “TON Services, TON Storage, and TON Proxy.