Telegram Crypto Project Pipped To Best Ethereum

Telegram Crypto Project Pipped To Best Ethereum

Within a month, Telegram’s own crypto project, the TON Blockchain is set for launch and many people are pipping it to be a contender to the long-standing top blockchain, Ethereum.

Less than a week has passed since research revealed that many up and coming blockchains may be set to surpass the long-standing top dog in the business, Ethereum. With each passing day, that threat appears to loom larger and larger and blockchain to be found by encrypted messaging service, Telegram.

Why could this be the case?

Well, already, Telegram offers a service to well over 300 million people and long before this project was in the works, the connection between crypto and Telegram has been strong. Most exchange platforms and other crypto firms offer a Telegram channel, while there is also the Telegram Passport service used as an onboarding tool at a significant number too. As such, their reach is huge and their partnerships and connections within the world of crypto are already firm.

Already Telegram’s new project has indicated via its Whitepaper that it aims to excel in the field it is entering and will likely be taking on Ethereum for the top spot, after already cementing itself as a top player in their own industry. It officially states that it should be considered a “huge distributed supercomputer, or rather a huge superserver” which will “host applications and run smart contracts” of its own. What makes it important though is that it has been designed with the purpose in mind to also work together with Ethereum too, thanks to the use of a “solidity compiler”.

As such, it plans to take what Ethereum has and run with it further with the goal to meet the needs that its predecessor has so far failed to do. This will be done via the use of a “blockchain of blockchains” known as a “masterchain” made up of a very large number of workchains which are then divided into an even higher number of shardchains. Via this elaborate system of chains in place, TON is said to be able to perform millions of transactions every second. Hopefully, with this, they will be able to combat the scalability issues that have long been an issue with Ethereum.

However, this said, it won’t be a straightforward takeover. As we have seen from other successful blockchains, like Tron & EOS, which have long been established, it is hard to knock Ethereum off the top spot.

Ethereum brags by far the largest team of developers and via the implementation of sharding technology of their own and are still the prefered choice for newly launched crypto assets. As such, they may be able to keep their head above water and bat off the challenge from Telegram’s own for still some time to come.

Ton has one thing that the other growing blockchains have not though. A very large userbase, an established global brand and most importantly, a network of existing crypto contacts. As such, while it is hard to say whether TON will really step in and rise to the top it is hard to say, but it is likely to be the toughest contender out there.

Recently Similar News

casinoin-promotion etoro-promotion

Latest Guides

Latest News

CoolWallet,Crypto Wallets,Cryptocurrency,Social Media

Read the CoolBitX and Horizen AMA

CoolBitX and Horizen hosted an AMA together and if you missed it, you can read a rundown of the event on the CoolWallet website now. The exchange platform that is part of the CoolWallet crypto wallet are in partnership with Horizen to create the Horizen CoolWallet. Their two respective social media team took the time […]

6 June, 2020
BitPanda,Cryptocurrency,Exchange Platforms,Promotion

BitPanda Celebrate Ontology Listing With 3 Giveaways

BitPanda has listed the Ontology project and to celebrate they are offering players the chance to get involved in a giveaway. The project has seen a listing on a number of other platforms in the last 8 months, including CEX and EXMO. This has substantially raised the profile of the blockchain that focuses on solving […]

6 June, 2020
CFD Trading Platform,Investment,Trading

Biggest News Stories of the Week, According to Trade.com

Trade.com have outlined what they believe were the biggest stories of the week for the trading world. The CFD trading platform, Trade.com have been active this week providing users with a rundown of stories that were going to affect the market. Now, with the week at a close, they have outlined their top picks for […]

5 June, 2020
CFD Trading Platform,eToro,Investment

eToro Who Suffered and Gained During Lockdown

While many companies suffered during the 3-month lockdown that came as a result of Covid-19 others have prospered. In their latest Twitter, eToro has outlined who exactly has gone up or down during this time. What most people will be most interested in is likely the biggest gainer and this title goes to Blue Apron, […]

5 June, 2020
CEX,Cryptocurrency,Exchange Platforms

CEX Launch USDT Trading Account

CEX have expanded their trading account possibilities with the option to create and use USDT-based trading accounts. This follows on from an earlier addition of ETH-based trading accounts and will follow an identical set-up, except these accounts will focus specifically around USDT. This is ideal if you have a lot of focus on the stablecoin […]

4 June, 2020
cfd,CFD Trading Platform,Investment,Trading

XTB Detail List of Rollovers

The exchange platform, XTB have posted a list of assets whose delivery dates will change. This means that when markets close today, the selected assets will have different delivery dates. The assets in question are BUND10Y, BUND10Y+, BUND10Y., BUND10Y, as well as SCHATZ2Y, SCHATZ2Y+, SCHATZ2Y. and SCHATZ2Y. The difference between prices between now and futures […]

4 June, 2020
CFD Trading Platform,Investment,Trading

US Nonfarm Payrolls and Unemployment Rate Set For Release

Trade.com have alerted users of the US Nonfarm Payrolls and Unemployment Rate which is set to be released on June 5th. The platform made users aware of the news over their Facebook page with their latest post detailing the release of the data on Friday. The post explained that “this is always a market mover […]

3 June, 2020
CFD Trading Platform,Plus500

Plus500 Announce New Sponsor, BSC Young Boys

Plus500 have unveiled their new sponsor, BSC Young Boys Football Club. Ths Swiss outfit, BSC Young Boys will join a selection of other existing partners of the CFD trading platform, which include Atletico Madrid from the Spanish La Liga and Australian Rugby team, Plus500 Brumbies. As such, the BSC Young Boys join a good alumnus […]

3 June, 2020