With Telegram’s 900 million users, making peer-to-peer interactions will become smoother than ever as the messaging app introduces mini-apps and integrates Tether (USDT) stablecoins. Numerous users will experience crypto for the first time without even being aware of it.
Developers can easily expand their businesses on The Open Network’s (TON‘s) primary blockchain by introducing ecommerce, paywalled content, games, and other ventures with the help of TON’s stablecoin, as mentioned by Justin Hyun, TON Foundation’s investments director, during an interview with Ezra Reguerra at the Token2049 conference in Dubai. Additionally, Telegram is proceeding with the deployment of its wallet that supports TON.
“The introduction of Tether on TON significantly simplifies the process for creators within the existing TON and Telegram economy,” Hyun explained. “Previously, users had to obtain different types of cryptocurrencies or tokens. Now, this obstacle has been removed.”
“The most interesting use cases are the ones that engage in social viral mechanics. So there are games that are being created on a daily basis that are powered through Telegram mini-apps.”
The products can be accessed directly without requiring separate app downloads, offering several benefits. Hyun provided the Catizen game as an illustration. When the developers joined TON from another blockchain, they amassed 2 million new users within two months, contrasting with the previous growth rate of 600,000 users over a year and a half.
Other social media platforms have a strong focus on specific regions. For instance, WeChat in China, Line in Japan, and KakaoTalk in South Korea have dominated their respective markets but failed to expand beyond. TON‘s global presence and native USDT eliminate the need for local payment processors. Additionally, Tether enables Telegram to bypass payment restrictions set by Google and Apple.
TON is thus returning to the original vision that was scuttled by the inability of The Open Network to hold an initial coin offering in 2020 due to United States Securities and Exchange Commission’s opposition, Hyun said. The TON Foundation was created in 2021 by open-source developers who took over the project.
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2024-04-19 21:24