Telegram’s upcoming crypto project is about 90% completed

08 Feb, 2019
by Joeri Cant
News
Telegram’s upcoming crypto project is about 90% completed

Telegram, the instant messaging app, founded by the Russian entrepreneur Pavel Durov, published its latest update for investors where they claim that Telegram’s upcoming crypto platform is about 90% completed.

If you are on social media then you are familiar with the Telegram app, and due to the fact that this app rocks security and integrated encryption, it became an instant hit with the cryptocurrency communities.

Telegram will be looking to implement it's own crypto wallet which will give Telegram users the ability to make digital payments on the application using the Telegram token called the Gram. Telegram is looking to have the world's most adopted cryptocurrency.

According to Medium, Telegram completed two pre-sale rounds in 2018, where they raised a total of $1.7 billion, which is considered to be one of the largest ICOs in the crypto industry to date.

The update shows that the overall build of the Telegram Open Network is now 90% complete, which is an increase from the 70% in September 2018.

Even though the update shows that they’ve made 20% more progress since their latest update, it shows as well that Telegram has delayed its testnet launch to March 2019, which was first planned to launch in January 2019.

Cryptocurrency investors have high expectations on Telegram's crypto platform that is intended to compete with Ethereum, EOS, and Tron.

In December Chepicap reported that Bitmex CEO Arthur Hayes declared that the ICO markets will return in 12 to 18 months. 

Hayes also went on to predict that stablecoins will be dominating the crypto markets before the ICO market comes back.

'Security tokens and stablecoins will prove attractive sirens for investors in 2019. While their fundamental raison d'etre is flawed, investors in this time of pain will latch onto anything they believe will be their ticket to easy riches.'

Hayes further commented that ICO tokens would be back for a reckoning in 2019. If Telegram stays on track, they could launch their new crypto project in the next few months.

Read more: Once the ICO market returns, Ethereum ‘Will quickly test $200’, BitMex CEO says

At the beginning of January Chepicap wrote that Iran announced that Telegram is a threat to national security and citizens should avoid supporting the launch of the Telegram token, the Gram. 

Read more: Iran officials warn citizens against making use of Telegram and its token

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Read more about: Telegram Russia

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