Telegram expects to release code for it’s TON Blockchain on 1st Sept

Published on: 8/29/2019|Category: Blockchain

‘TON’ , Telegram Open Network. The Telegram messaging app with it's ambitious blockchain project announced last year is expected to release the code needed to run a TON node on Sept. 1st , according to reports from one the persons involved in the project.

One of these individuals is affiliated with TON Labs, a tech startup which was founded by Telegram’s token sale investors. The date was also confirmed by an investor in the token sales.

A high level of secrecy around TON has been kept by Telegram as they refused to speak publicly on the project. No such inhibition has been felt by TON labs which was founded to build developer tools for Telegram. It is becoming the only vocal tech company associated with the project.

Telegram’s own developer team has been in good and regular communications with TON Labs according to TON.

On TON’s test network , Telegram has been running one operational node till date. A wider range of users will be able to run their own nodes with the upcoming code release.

According to the purchase agreement for Telegram’s 2018 token sale, users now can only run nodes on testnet, with a mainnet launch expected for Oct. 31.

Vedomosty, the Russian publication reported on Wednesday that the release will contain code for the node itself including instructions for deploying a node.

Vedomosty reported that interested developers will be able to use their nodes to test the protocol’s consensus and shading mechanisms as it cites unnamed investors in the project

Citing a leaked white paper, TON will use a Byzantine-fault-tolerant proof-of-stake consensus with “infinite sharding” as well as the capacity to support a staggering 292 shard chains (49 followed by 26 zeros).

Atleast $1.7 billion from investors based in Russia, U.S.A and several other nations were raised by Telegram in a 2018 token sale. Telegram would have to refund its investors, minus any expenses associated with its development if TON doesn’t launch by the end of October.

Many investors including Telegram users and the wider range of crypto community have remained interested in Telegram’s blockchain project.
Many investors started selling the rights to their future tokens as a result of TON consistent delays in it’s launched by last December, forming an unofficial secondary market for GRAM, the token which is associated with the network.

Ultimately , this is technically a violation of Telegram’s investor agreement, as secondary trades prior to launch is strictly prohibited.

Credits: Anna Baydakova

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