Block Chain

Telegram’s Toncoin Partners With ‘Donate’ for Subscription Payments

Telegram’s brainchild, TON Blockchain has partnered with the social media big’s verified fee protocol ‘Donate’ to make use of its native token ‘Toncoin’ for subscription funds, amongst different issues.

“TON Community is proud to announce that the TON blockchain and Donate, a Telegram-verified payments service, have become official partners,” the blockchain protocol stated on its official Telegram deal with. “Soon, users will be able to make donations and pay for their subscriptions in Toncoin, and channel administrators, conversely, will be able to collect their income in the same cryptocurrency,” it added.

The community stated it’ll publish extra particulars bordering on the partnership within the coming days, showcasing the involvement of its coin will probably be an evolving innovation.

The TON Blockchain was conceived and developed by Telegram Founder, Pavel Durov and his brother Nikolai in 2017. The challenge superior into the Initial Coin Offering (ICO) stage with GRAM tokens provided to buyers in a document $1.7 billion gross sales in 2018. However, this ICO was the supply of the challenge’s hassle because the US SEC got here after the Durov and the TON staff alleging they broke securities legal guidelines. The lawsuit was prolonged for an extended interval and ultimately ended up with Telegram paying $18.5 million in settlements. 

Since the lawsuit was concluded, Durov and His brother stepped away from the challenge, however he expressed pleasure that the challenge didn’t die afterwards, noting the present staff which rebranded the GRAM tokens to Toncoin has all they should succeed past the extent it’s presently working at.

“When Telegram said goodbye to TON last year, I expressed the hope that future generations of developers would one day carry on with our vision of a mass-market blockchain platform…So I was inspired to see the champions of Telegram’s coding contests continue developing the open TON project, which they rebranded to Toncoin…I’m proud that the technology we created is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain realm. It would have been a shame to see this project not benefiting humanity,” Durov stated in an announcement posted on his Telegram channel.

Meta Platforms Inc (previously Facebook) additionally confronted comparable backlash from lawmakers and regulators, protecting its Libra (now rebranded to Diem) challenge sure from launching because it was conceived.

Image supply: Shutterstock

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