Telegram Users Can Now Send Cryptocurrency through The Open Network foundation
Two years after abandoning its blockchain endeavor, The Open Network (TON) foundation has announced that users would be able to send crypto payments on Telegram.
Telegram’s cryptocurrency operation was shut down when the Securities and Exchange Commission of the United States put too much pressure on the company, according to The Verge (SEC).
Telegram now accepts Toncoin transactions with no costs, according to a tweet from TON.
You Can Now Send #Toncoin Directly Within Telegram Chats!
It’s A New Way To Send Toncoin Without Transaction Fees To Any Telegram User. With This Service, You’ll No Longer Need To Enter Long Wallet Addresses And Wait For Confirmations.
Watch The Video And Test The New Feature! Pic.Twitter.Com/EtXSMFtJj6
— TON (@Ton_blockchain) April 26, 2022
In 2018, Telegram CEO Pavel Durov and his brother Nikolai created the TON project. The SEC ordered Telegram to cease its sales of Gram, the token associated to the TON blockchain, a year after the project was established, claiming that it had failed to register the $1.7 billion in sales received as part of its pre-ICO (ICO). In 2020, Telegram, on the other hand, abandoned the TON foundation.
After dropping its previous blockchain operation, the WhatsApp competitor was able to launch a new one, rebranding it from Gram to Toncoin.
“I’m happy of the fact that the technology we invented is still alive and well… According to The Verge, Durov stated in December that “TON is still years ahead of anything else in the blockchain space.”
The TON project also managed to raise $1-billion in donations earlier in April.
Telegram has a variety of payment options.
Telegram already allows merchants to create bots that allow their clients to complete transactions on the network. According to Techweez, merchant bots can deliver custom structured invoice messages to people, groups, or channels.
The app may deliver invoice notifications with a “Pay” button, as well as a photo and description of the item you’re paying for. The button activates a specific payment interface within the app when you tap it. The interface allows consumers to submit a tip amount (if the shop permits it) as well as extra information such as shipping information, phone number, or email address.
