Telegram's TON saga seems far from over as a disgruntled investor seeks compensation.
TON is the abbreviation for a blockchain project called The Open Network. TON originally stood for Telegram Open Network, but Telegram exited the endeavor in 2020.
Originally headed up by Telegram, the company behind the Telegram messaging app, TON started as a blockchain for decentralized applications and speedy transactions. The Telegram TON initial coin offering, or the TON ICO, ran in 2018, garnering approximately $1.7 billion through its GRAM token sale. TON subsequently saw significant backlash from the United States Securities and Exchange Commission, or SEC. Various developments surfaced regarding investor refunds.
Run by the community, a subsequent and separate project known as Free TON came to life in 2020. Free TON operates without Telegram as a blockchain formed from the original project’s code. Other TON solutions have also arisen based on available open-source data.
While Telegram's token project is dead, the blockchain still lives.7129
Grant programs have their flaws — they often lack transparency and shut out good ideas. Here’s why contests are a compelling alternative.29
Despite Telegram abandoning TON earlier this year, the technology underpinning the project lives on. Here’s what happened next.5714
A blockchain focused on “sustainable decentralization” says it is about to become one of the world’s largest and most scalable proof-of-stake networks.12373
Blockchain technology is just a tool that solves a problem, it cannot be the goal of the entire project.41197
The app has helped Belarusians stay in touch during a communications blackout.5829
“We are not selling Telegram – neither in part, nor in full,” Telegram CEO Pavel Durov promises.4046
As the official Telegram Open Network is being prepared to shut down on Aug. 1, global TON technology projects continue progressing.4968
Telegram ceases its support of the test network for TON, but that will seemingly not deter the community from keeping the open-source project going.4399
Users will need to install their own testnet validators to continue using the network.9683
Russian prosecutors are reportedly investigating a British firm that allegedly sold fraudulent Gram tokens.5811
Documents shared with Cointelegraph confirm that Telegram refunded some American TON investors 72% of their investments about a month ago.12391
Despite the original TON project being officially terminated, the U.S. SEC asks Telegram to return $1.2 billion.6143
As the official TON team transfers the TON development to “free source community,” the Chinese TON Community launches their own TON network.4065