The utilization of blockchain-based mini-decentralized applications (DApps) on Telegram, referred to as Mini Apps, has the potential to revolutionize blockchain adoption on a massive scale. This notion is put forth by Justin Hyun, the director of investments at TON Foundation, who stated in an interview with Cointelegraph that these Mini Apps could act as a “Trojan horse” for widespread blockchain implementation.
Introduced in 2020, Telegram Mini Apps serve as an open platform that enables Web3 businesses to seamlessly deploy crypto-friendly apps within the Telegram messaging app. This initiative was established through a partnership between The Open Network (TON) Foundation and Tencent, with the goal of creating a super-app platform.
Hyun believes that in order to onboard the next 500 million users onto the blockchain, it is crucial to provide them with simple initial use cases that do not require in-depth knowledge of the underlying blockchain technology. Some of these Telegram Mini Apps will also offer specific financial incentives for users, as explained by Hyun.
Telegram, which boasts over 800 million monthly active users worldwide, is currently the third-largest messenger app in terms of monthly downloads, according to Statista. On February 28, Telegram announced the launch of its advertising platform, which will utilize the TON blockchain for payments. Starting this month, channel owners on Telegram from over 100 countries will have the opportunity to receive financial rewards for their content, as the ad platform opens up to all advertisers. Channel owners will receive 50% of the total advertising revenue generated by Telegram through ads displayed in their channels.
Additionally, TON recently initiated a $115 million community incentive program, allocated as follows: $38 million for token mining and user incentives, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million for liquidity pool boosts.
In related news, a new Bitcoin price prediction suggests that the cycle top could reach $180,000, further fueling interest in the cryptocurrency market.