In a noteworthy development for the cryptocurrency landscape, Telegram has officially joined forces with the TON Foundation, naming Toncoin and the TON network as the sole cryptocurrencies accepted for its suite of applications and services. Beginning January 21, Telegram plans to phase out support for all other blockchain networks, focusing entirely on The Open Network (TON) to power its messenger solutions, including Mini Apps.
Partnership Details
This partnership solidifies TON’s role as the backbone of Telegram’s Mini App ecosystem. In this arrangement, Toncoin will exclusively handle all non-fiat transactions tied to the various services Telegram offers.
Telegram’s sustained commitment to TON reinforces its position as the preferred blockchain network, especially for initiatives related to Web3 infrastructure. The TON Foundation has noted that Telegram’s integration of TON features has been instrumental in the network’s expansion, driving growth through enhancements to Mini Apps and facilitating transactions and advertising using Toncoin.
Exclusivity Agreement
This exclusivity agreement marks a significant step in the collaborative relationship between Telegram and the TON network, enhancing their technological synergies.
Under this partnership, Toncoin will be the only cryptocurrency recognized for payments linked to an array of Telegram services. This includes popular features such as Telegram Stars, Telegram Premium, Telegram Ads, and the Telegram Gateway, which serves as an alternative to traditional SMS verification.
Moreover, Toncoin will exclusively reward developers of Telegram Mini Apps and channel operators for their contributions, including earnings derived from Telegram Stars and advertising revenues.
Future Plans
Historically, while many developers have chosen to leverage TON, they often integrated features from other blockchain systems. A representative from the TON Foundation highlighted that Toncoin has remained the only accepted non-fiat payment method within Telegram’s ecosystem.
Importantly, this partnership ensures that TON Connect will serve as the sole protocol for linking Telegram Mini Apps with blockchain wallets, effectively limiting blockchain functionalities to the TON network. This commitment underscores the intention to further enhance Toncoin’s application within Telegram’s framework.
Manuel Stotz, the newly appointed president of the TON Foundation, shared his excitement about this partnership, viewing it as a crucial milestone in their strategic roadmap. He pointed out that after laying the groundwork in previous years, TON stands ready for significant advancements in 2025. Given Telegram’s status as one of the world’s most downloaded apps, Stotz believes the platform has an unparalleled ability to foster free expression while supporting the blockchain community. He added that no other blockchain offers as efficient a distribution channel as Telegram, leveraging the power of Natural Language Processing (NLP) to maximize outreach.
Source: Cointelegraph
