As a seasoned crypto investor with over a decade of experience navigating the digital asset landscape, I can confidently say that the integration of cryptocurrencies within messaging platforms like Telegram is a game-changer for mass adoption. The convenience of accessing and managing digital assets directly within Telegram’s Mini Apps is undeniably appealing to both crypto enthusiasts and newcomers alike.
The use of Telegram Messenger has played a substantial role in increasing the acceptance of cryptocurrencies worldwide. This is due to its integration of Mini Apps for cryptocurrencies and support for multiple types of digital wallets. As a result, users can easily manage their digital assets without leaving the platform.
Some experts in the industry believe that Telegram might pave the way for engaging the first billion cryptocurrency users; however, it’s not viewed as a rival or potential danger to traditional avenues of crypto adoption such as web browsers.
While browsers such as Apple’s Safari have been hesitant to incorporate cryptocurrency elements, the cryptocurrency environment has flourished in browsers that are friendly towards crypto, such as Brave and Opera.
In simpler terms, Jorgen Arnesen, an executive at Opera’s mobile division, mentioned that Google, the company behind the widely-used Chrome browser, allows a variety of cryptocurrency extensions and tools within its web platform, as reported by CryptoMoon.
Brave doesn’t see Telegram as a competitor
2024 saw significant expansion for the blockchain platform linked to Telegram, known as The Open Network (TON), as a large number of users discovered cryptocurrency via engaging Mini Apps such as Notcoin and Hamster Kombat.
Telegram offers compatibility with multiple cryptocurrency wallets, giving users the option to select either self-managed or managed wallets for storing cryptocurrencies such as Bitcoin (BTC) within the messaging platform itself.
In my role as an analyst, I find it quite logical that with our significant presence in the cryptocurrency space, the integration of cryptocurrencies within Telegram aligns perfectly with our objectives. This was expressed by Brave’s Vice President of Business Operations, Luke Mulks, during his conversation with CryptoMoon.
The surge in Telegram’s cryptocurrency highlights growing interest in digital currencies and new possibilities for their applications among a wider audience of traditional users. However, he pointed out that this does not signify a risk or competitive challenge to web browsers.
telegram’s cryptocurrency functionalities, like the built-in digital wallet and chances for users to generate income, have long been present in Brave. As Mulks pointed out, these features have been a part of Brave for quite some time.
“We don’t see browsers as being left behind. The browser is the gateway to the web, including Web3. Our focus has been from a higher level, how we can integrate stronger security and Web3 use cases into the Web2 world.”
Web-based crypto adoption is strong
Opera’s Arnesen expressed a viewpoint that was analogous to the idea of Telegram’s cryptocurrency adoption as compared to its adoption via web browsers.
Although the TON blockchain by Telegram and initiatives such as Hamster and Notcoin have certainly created a big impact, we are convinced that the rate of cryptocurrency adoption on the web could surpass these significant advancements,” he stated.
In 2024, Chrome, boasting over 3.45 billion users worldwide, not only maintains its popularity but additionally nurtures a vibrant community of cryptocurrency extensions and resources. This enables users to seamlessly engage with cryptocurrencies directly through their web browser, as Arnesen pointed out.
TON ecosystem expands beyond Telegram
The TON Foundation views Telegram as just one of several platforms for their engagement within the TON ecosystem; this was stated by Alena Shmalko, the ecosystem lead at TON Foundation in an interview with CryptoMoon.
Shmalko mentioned that Telegram is merely one of the platforms for projects based on TON, but it’s an exceptionally large one as it has more than 950 million users.
“We’re working around the clock to foster a decentralized ecosystem where the most exciting Web3 products on TON are accessible through whichever method the end-user wants to engage with most — whether that’s as a web app, a Telegram Mini App, or even as a Chrome extension.”
As the TON Foundation strives to broaden the influence of TON beyond Telegram, it’s worth noting that Pavel Durov, the app’s creator and head, is currently under scrutiny in France.
According to French authorities, Durov is being charged for creating a platform that allegedly allows illegal financial activities, which could lead to a sentence of up to ten years in prison for the founder of Telegram.
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2024-11-29 14:39