At the end of last year, Pavel Durov, a well-known businessman, creator of the Russian social network “VKontakte” and instant messenger Telegram, decided to create not just his own digital coin, but a whole decentralized payment network. In this article we will discuss the Gram project in detail, talk about its main features and prospects for the future.
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- What is Gram cryptocurrency?
- ICO of the project
- Gram cryptocurrency wallet
- What are the prospects of the project?
Gram is a digital coin that is an integral part of the global Telegram Open Network project. This platform will have an innovative architecture that will allow it to achieve unimaginable, by today’s standards, throughput of 1,000,000 transactions per second. For understanding how much this is, you should compare it with the most popular payment service for today, Visa. According to the representatives of the company, their service can handle 24 thousand operations per second, and in theory, this number can reach 56 thousand. But the reality is that the service rarely exceeds the threshold of 1,700 transactions per second. Million, in comparison with it seems something really sky-high. And Bitcoin with its 7 operations per second seems something prehistoric.
The TON project solves two main problems of modern cryptocurrencies at once:
- forks (the system will itself roll over updates, and in case of an error block, it will independently correct the subsequent ones).
The cryptocurrency of Pavel Durov had one of the most successful ICOs in history. This is in view of the fact that the project did not conduct public sales of its tokens. In March of this year, two closed rounds of pre-ICO “for friends” were held. In the first, 81 investors participated; in total they invested $850 million. In the second round, investors became slightly larger, there were already more people, they also bought tokens for 850 million dollars. As a result, the project collected about 1.7 billion dollars of investment, which at that time was an absolute record in the industry (a little later EOS broke this record, having collected about 4 billion dollars).
It is worth noting that it was not possible to buy Gram for ordinary private investors within closed rounds of ICO, since the minimum threshold for entering the project was a figure of 1 million dollars.
Since Gram will have its own blockchain system, the developers assure that they will also create an innovative official wallet. It will be possible to store not only the project’s tokens, but also the usual fiat money in it. Its presentation will take place at the end of 2018.
The work of developers on the project has already started. For an understanding of further plans for the development of TON, see RoadMap:
- I quarter of 2018 – development of a secure identifier;
- Q2 2018 – the first tests of the platform;
- Q3 2018 – in-depth TON security testing;
- Q4 2018 – completion of works and official presentation of the TON network and wallet;
- Q1 2019 – platform integration into Telegram messenger;
- Q2 2019 – the final launch of the project.
Also, early next year, Durov and his team predict the listing of their tokens on most popular cryptocurrency exchanges.
It should be noted that if the development team succeeds in implementing the plan, then this cryptocurrency can become one of the most popular on the market. Now the messenger is used by more than 200 million people. After the successful completion of all work on the creation of the network, Gram can easily enter the TOP-5 of the cryptocurrency projects in terms of the level of capitalization. But the implementation of these forecasts does not happen until mid-2019.
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