‘$1.2 Billion ICO’: Leaked Whitepaper of Telegram’s Token Sale Reveals Ambitious Plans
Originally published on: CoinSpeaker
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January 10, 2018
Yesterday we published an article about upcoming Telegram’s ICO for the Telegram Open Network (TON) revealing the project’s ambitious plans. But by this moment some new details have been found out.
Though some former Telegram employees admit that at the time of their work for the company ICO, blockchain, etc. were never discussed, today this popular messaging app having 180 mln users base is going to raise $1.2 billion (just for comparison: plans of Canadian messaging platform Kik to raise $125 mln through the ICO resulted in $97.5 million raised in September).
As Telegram co-founder Nikolai Durov noted, TON is aimed at solving the shortcomings of existing cryptocurrencies like Bitcoin and Ethereum by delivering “a fast and inherently scalable multi-blockchain architecture” which has a capacity to process millions of transactions per second, offers intuitive user interfaces and contributes to transformation of the existing Telegram user base into an engaging ecosystem.
According to the revealed information by Cryptovest, this ecosystem will include a proxy service, a distributed file-storage service, decentralized apps and smart contracts, DNS, a decentralized ad exchange, micropayments, a digital and physical goods marketplace.
The Telegram team expects to raise $500 million in the pre-ICO team that is planned to be launch in March giving the wider audience a chance to invest. As it is strongly believed a great number of investors will be interested in this opportunity being attracted by the name of the company.
With an aim to offer the easy exchange of micropayments among users and bots, 5 bln Telegram’s cryptocurrency named Grams will be generated. 4 percent of them will be reserved for the Telegram team and 44 percent will be for sale during the ICO. The remaining 52 percent will be retained by Telegram in order to avoid speculative trading
It was also revealed that the first related to the project product “External Secure ID” will be launched already in the first quarter of 2018, while all other products are to become available by the first half of 2019. By 2021 it is planned to shift the Telegram founders’ control to a non-profit base.
Really ambitious plans, increasingly growing popularity and a strong team of skilled professionals working on the project may make Telegram’s TON ICO the biggest token sale of 2018.
But as it is known, Telegram is not the only company showing such a serious interest to cryptocurrencies and having aspiring ideas.
Facebook Founder and CEO Mark Zuckerberg also paid his attention to cryptocurrencies and underlying blockchain technology thanks to implementation of which information can be decentralized and distributed across the global computers network.
According to Zuckerberg, that’s very important as initially the major aim of web services was to distribute and decentralize power in the hands of people rather than to concentrate it at a few huge companies including Facebook itself.