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

cex-promotion exmo-promotion

Latest Guides

Latest News

BitPanda CEOs Win Entrepreneur of the Year Award

Paul Klanschek and Eric Demuth, the two CEOs of BitPanda, have taken home the Entrepreneur of the Year in an event hosting by world-leading accountancy firm, Ernst and Young. The prize follows a very exciting year for the exchange platform. 2019 saw them host the highest ever recorded IEO of their native, BEST token, as […]

22 October, 2019
CFD,Exchange Platforms,Expansion,Trading

Trade.com Expands into UK and Irish Markets

The CFD trading platform, Trade.com yesterday beckoned in a new dawn of operations by setting up shop in the UK and Ireland. The expansion into this new market comes as the platform sets-up shop in one of the financial hubs of the world, London. This will see the CFD platform become more accessible to users […]

22 October, 2019
Binance,Bitcoin Cash,Decentralised,Pegging

Bitcoin Cash to Become Latest Pegged Token On Binance Chain

Following the listing of Bitcoin Cash (BCH) on the Binance DEX, a new token known as BCH-1FD tokens, which is pegged to the value of BCH, will be created on the Binance Chain. This promises to provide users of the Binance DEX with more trading options on the exchange, while maintain they continue to obtain full custody over their […]

21 October, 2019
KuCoin,Pairings,Tron,Updates

KuCoin Adds TRX Trading Market

The expanding cryptocurrency exchange, KuCoin has listed pairings for Tron on their platform which will see them dive develop their operations with Tron. This new trading market will go live later today, October 21st, at 18:00 (UTC+8) with the trading pairs of BTT/TRX and WIN/TRX being added. While trading of TRX on the platform has […]

21 October, 2019
Blockchain,Learn,Malta

The University of Malta To Offer a Masters in Blockchain

It is now possible to get a certified degree in blockchain and distributed ledger technology at the University of Malta. Malta has been recently establishing itself as very much the hub of cryptocurrency in Europe. The small Mediterranean island has been one of the first locations on the continent to provide the infrastructure for the […]

20 October, 2019
cryptocurrency hedge funds,Custodian,Fidelity,Updates

Crypto Custody Services From Fidelity Set to Launch

In a new interview, the CEO of Fidelity Investments has announced the roll-out of their much-anticipated crypto custody service. Speaking to The Financial Times, CEO, Abigail Johnson explained that after year-long preparation it was ready to venture into this new area of cryptocurrency investment. This was described by Johnson as “enterprise-quality custody and trade execution […]

19 October, 2019
BitPanda,Europe,Finance,Payment Solution

You Can Now Send Money & Pay Bills with New BitPanda Pay

The exchange platform, BitPanda, has unveiled a new BitPanda Pay service which will allow you more freedom to use your BitPanda balance in everyday life. BitPanda will allow users to bridge the gap between your holdings in the cryptocurrency world and the financial services you need to take off in the real-world. The new service […]

19 October, 2019
Binance,Futures Trading,Investment,Updates

Binance Futures Increases Leverage to 125x

As of today, traders who use Binance Futures will be able to benefit from the larger Leverage on both margin and trading available on the service. Binance Futures has been up and running for a couple of months now and has so far proven to be a big hit with traders. Owing due to its […]

18 October, 2019