Telegram is planning to launch its Telegram Open Network (TON) in Q3 of 2019. This is the latest in an internal note sent to company investors.
Despite initial doubts over whether Telegram could execute the crypto project, the messaging firm reported a successful testing process that confirmed its blockchain and consensus algorithm met the goal of its original TON white paper.
The firm said the testing period “reaffirms our belief that the TON virtual machine and the TON … Byzantine consensus algorithm are capable of meeting the goals stated in the original white paper,” according to a source.
Telegram’s blockchain project is designed to host decentralized applications, similar to Ethereum.