Telegram, the messaging operator that has raised over a billion dollars in past investment rounds to build its own blockchain platform, has published an update on the development of TON (Telegram Open Network).
Telegram Open Network is intended to become a competitor to Ethereum for launching and executing smart contracts and decentralized applications. According to the developers, many aspects of the protracted project are more than 90% complete.
Overall, the project is 70% complete, according to the document. Of course, it is impossible to say how well the network will perform once launched. The network may look good in the specification document, but there is a big difference between what is on paper and what exists in the real world.
However, some interesting development points include:
• The main component for executing smart contracts - the TON Virtual Machine - is fully operational. But it may require changes to connect with new elements of the system.
• In addition to the virtual machine, a database has also been developed, which is necessary for storing and accessing large amounts of data without loading it into memory.
• Most of the components of the TON network required to complete transactions are 80% complete.
• The part that is furthest from completion is the block generation and validation software. Its readiness rate is only 10%.
TON seeks to bring the Telegram messaging app to the blockchain platform and host other cryptocurrency applications on its network similar to Ethereum. Among the main advantages that TON announces are anonymity and the absence of censorship, which is closely related to the declared decentralized infrastructure of the project.
Telegram is known for its conflicts with the governments of various countries and strives to create a network consisting of thousands or more nodes, which is much more difficult to censor.
However, Telegram continues to violate all the launch deadlines of the TON blockchain platform, in addition, making its investors nervous. Protracted trials for the Gram brand with the American startup Lantah LLC, nationwide Telegram ban in Russia, a serious delay with launch of Telegram Passport - all this does not add to the popularity of the messenger.
In addition, since the spring, Pavel Durov cursed his active activities on social networks, leaving users perplexed about his silence.
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