What is GRAM?
GRAM is a token released in 2018 by Telegram on the TON platform. GRAM will be used as a coin in the Telegram ecosystem.
What is TON?
Telegram Open Network (TON) is a diverse architecture introduced by the developers of the instant messaging service Telegram.
Telegram is an encrypted chat platform, founded in 2013. Telegram’s side project – Telegram Open Network as well as its GRAM token is expected to be integrated with the application. The developers intend to introduce the “first mass market cryptocurrency” by incentivizing 180 million users of the platform to accept GRAM. TON is an effort to provide solutions for anonymous browsing, file storage, and payments.
Telegram Open Network’s initial coin offering is conducted according to the following schedule:
Feb 2018. ICO pre-sale.
Only institutional investors can participate
Tokens are sold at a fixed price
Minimum purchase requirement from $20-$60 million
During this period, $850 million was raised.
Starting March 2018. Sell ICO private .
Only accredited investors are allowed to participate
Procedures regulated by SAFT
March 2018. Public ICO.
Telegram raises to $1.7 billion before public offering. Those numbers make TON the biggest ICO of all time. The demand for GRAM has exceeded all expectations. Some funds, which received pre-ICO allocations, offered their shares for resale.
Telegram Open Network is a multi-blockchain arcitcture that offers a wide range of services along with Telegram messenger.
TON’s blockchain consists of two parts:
The master chain contains key information related to the protocol, such as the current active chain, the hashes of recent blocks, the set of validators, and their stake.
Workflow Collection – accompanying blockchains suitable for smart contract transactions. Working chains are allowed to be built according to different rules, allowing them to have different cryptocurrencies and use individual virtual machines to run smart contracts.
Telegram Open Network incorporates the following blockchain-based products:
TON Storage : Distributed file storage layer with torrent-like access is provided to provide storage service similar to Dropbox.
TON Proxy : A blockchain-based decentralized VPN service, used to provide a secure, TOR alternative to the browsing environment.
TON & DNS Service: Platform for third-party services of any kind with a smartphone-like friendly interface and human-readable names, assigned to TON elements.
TON Payment Platform: Platform for micropayments and peer-to-peer transactions.
PoS. Distributed consensus is achieved through delegated Proof-of-Stake.
Network parameters can be adjusted with the help of elected delegates.
Selection of block producers is deterministic.
Delegates are re-elected every 2^29 blocks.
Shading: The scalability of the TON network can be attributed to sharding – the process of partitioning data in a database. Each individual partition is called a shard. To transport the network’s network load, each shard is kept on a separate database server instance. TON Hypercube Routing Blockchains TON uses routing mechanisms to ensure that transactions between any two blockchains in the system of any size are fast. 2-D distributed ledger. The TON blockchain allows new valid blocks to be built on top of any “unnecessary” blocks.
Distribution of GRAM
The maximum amount of 5 billion GRAM will be created. The price of the first GRAM is expected to be 0.1 USD. GRAM’s annual inflation rate is 2%, with each successive token being one billionth more valuable than the previous one. The distribution of the money supply is as follows:
52% GRAM – retained by company reserves
4% GRAM – dedicated to the development team
44% GRAM – sold to investors in private sale as well as public sale. Investors who buy in public sales receive their tokens while private sales are locked out for 18 months (because the bonus is much higher).
Milestones and future developments
The Telegram Open Network roadmap contains the following milestones:
Jan-March 2018 : Release of minimum viable product TON
October-December 2018 : Launch of TON service stable version as well as implementation of Telegram Wallet;
January-March 2019: Implement additional Telegram Open Network services, such as TON Storage and TON Proxy.
And, TON’s main competitor is EOS.
Let the whole market wait but in the end Telegram decided to cancel the ICO
Telegram releases Telegram Passport, blockchain technology application
The Iranian government may ban Telegram after its ICO raised $1.7 billion
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