- The Open Network (TON) allows Telegram users to send Toncoin via chats.
- There’s no transactions fee for sending Toncoin through Telegram messaging app
- Telegram claims that this new feature is easier and faster than sending Toncoin on other platforms.
TON launched a “wallet” bot which grants more than 550 million of Telegram users to send and receive Toncoins without transaction fees. In addition, users “no longer need to enter long wallet addresses and wait for confirmations.”
According to The Open Network, Telegram users who would like to send Toncoin via the new wallet bot will have to install the latest version of the app. The company revealed that the wallet bot has been used by over 800,000 accounts on Telegram after being enabled this week.
TON Foundation’s spokesperson said in a press release:
“It is hoped that this simplification of the cryptocurrency transaction process will enable greater adoption around the world, and help to embed blockchain payment solutions into people’s daily lives.”
The messaging app’s long history with crypto started in October 2019. This was when the US Securities and Exchange Commission filed a complaint against Telegram for raising $1.7 billion through an ICO.
Telegram has offered unregistered digital tokens called “Grams,” which violated the federal securities laws. In June 2020, the company agreed to return more than $1.2 billion to investors. It also paid an $18.5 million penalty. Along the process, Telegram Open Network (TON) and Toncoin maintained their control of Telegram. Toncoin is currently the 206th largest cryptocurrency in terms of market cap as per CoinMarketCap, valued at $2.33 billion.
Recommended News :
Crypto News Land (cryptonewsland.com), also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.