The journey of tech giants embracing blockchain technology has been marked by failures. Take Meta, for example, which decided to abandon its plans to launch the Diem stablecoin after facing three tumultuous years and significant backlash.
However, amidst these failures, there are shining examples of projects that hold great promise. The Open Network (TON), formerly known as Telegram Open Network, was initially created to enhance one of the most popular messaging apps globally. Despite regulatory challenges causing Telegram to step back, an independent community took the reins to champion the adoption and development of this layer-1 network, giving birth to TON.
After years of subpar interfaces and limited use cases, TON is finally delivering what the industry has long desired: enabling users to engage with blockchains and cryptocurrencies seamlessly, often without even realizing it. The potential of this infrastructure to make a positive impact on the world is just beginning to be explored.
Why TON could be the key to widespread crypto adoption
TON’s significance is magnified as the platform expands beyond messaging to offer a “super app” experience, drawing inspiration from the success of WeChat in China. This evolution allows for the creation of “mini apps” within Telegram, rendering traditional websites redundant for businesses like restaurants and providing users with a convenient access point to services. Developers in various industries benefit from unparalleled flexibility through the use of JavaScript.
What sets these mini apps apart is their integrated payment solutions, a feature that could greatly normalize crypto transactions. TON’s integration ensures transparent and tamper-proof payments, a crucial step towards mainstream adoption of cryptocurrencies. While Telegram has long been a hub for crypto enthusiasts, its transition into mainstream consciousness without aggressive marketing efforts is particularly noteworthy.
The removal of a key entry barrier is a game-changer: users and merchants no longer need to navigate cumbersome alphanumeric wallets. Unlike other crypto platforms that struggle with limited market penetration due to poor user experience, Telegram’s approach provides a user-friendly interface within a widely-used app, creating an ecosystem that extends beyond messaging.
Ensuring that the blockchain infrastructure supporting these crypto payments is robust and scalable is vital to TON’s success. Fast transactions with low fees offered by TON’s network facilitate cross-border payments and enable Telegram to offer Web3 services without controlling user funds.
The future looks bright for developers looking to tap into the opportunities presented by TON. The familiarity of developing mini apps on WeChat can be leveraged on TON, attracting a diverse and engaged audience. The increasing number of mini apps within Telegram will create a positive feedback loop, drawing in more users and businesses alike.
Challenges on the horizon
While TON’s integration into Telegram positions it as a prominent blockchain platform, challenges remain. Fragmentation and silos between networks have historically hindered seamless connections, necessitating collaborations with other blockchains to ensure widespread usability of the super app. The focus on a single token could lead to exclusion, but efforts are underway to establish connections with EVM-compatible networks.
In the realm of developers, the motto “build it and they will come” may not apply directly to Telegram, given its massive user base. Together with TON, the focus must be on simplifying crypto payments to match the ease of the messaging tool, enticing existing users to explore new features without feeling alienated.
Tim Delhaes, co-founder and CEO of Grindery, emphasizes the importance of integrating EVM smart wallets with Telegram for a seamless user experience. Grindery, established in 2018, joined Binance Labs in 2022.
This article serves as general information and should not be construed as legal or investment advice. The opinions expressed are solely those of the author and do not necessarily reflect the views of Cointelegraph.