Telegram is going to raise billions via ICO

Telegram Open Network will be directly integrated into the Telegram platform, which means that 180 million people can immediately become its users
09 January 2018   1656

Telegram messenger is preparing to release its own crypto currency and distribute it through ICO, which can beat the records of all previous crowbanding campaigns. This is written by TechCrunch, whose employees studied fragments of the 132-page project's whitepaper.

Gram will serve as a coin for the Telegram Open Network (TON) and will be directly integrated into the Telegram platform, which means that 180 million people can immediately become its users.

In white paper, TON is described as a third-generation blockchain that will consist of a main chain and from 2 to 92 additional blockchains.

The most noteworthy aspect of the project is the "paradigm of endless shading", through which scalability will be achieved. In other words, the TON blockers will be designed so that they can automatically split and merge, adjusting to the changes in the load. This means that new blocks will be generated quickly, and the absence of long queues will allow to maintain low commissions even if some services using the platform become extremely popular.

The developers claim that TON will be able to process 1 million transactions per second, which will allow using Gram to make micropayments.

During the preseason, TON intends to raise $ 500 million, which is twice the amount collected by Filecoin last year during the largest ICO to date. At the same time, after completing the main part of the campaign on the market, Gram can come out with a capitalization of $ 5 billion. Moving away from the standards accepted in the industry, TON will not accept transfers in bitcoins or ether. Investors will be able to buy Gram tokens exclusively for Fiat, and the minimum investment amount at the pre-ICO stage will be limited to $ 20 million.

It is expected that 4% of all released Gram will be reserved for the development team. In addition, Telegram plans to retain "at least 52%" of tokens under its control to protect them from speculative influence. The remaining 44% will be sold out during the private and public campaigns.

In addition to performing the functions of the payment network, TON will include a DNS service that will allow users to access decentralized applications via a web-like interface.

According to the road map presented in white paper, Telegram expects to present a minimally viable product by the end of the first quarter of this year, and a full-scale platform can be seen in the second quarter of 2019.

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Token Sales Still 'Rampant', China State TV Says

Country's highest-level government mouthpiece, has hit out at domestic ICOs that it says are still "rampant," despite a 2017 ban
23 May 2018   65

China Central Television (CCTV), the country's largest government mouthpiece, paid attention to the ICO theme, saying that this sphere, despite the ban introduced in 2017, is still "rampant." This is reported by CoinDesk.

During the Financial News broadcast, the media reported that the ban on the ICO was imposed last September by the People's Bank of China did not deter local investors from investing in the crypto sector. On the contrary, their desire for rapid enrichment led to the rise of this area of ​​the economy.

Further, CCTV told about the sharp rise, as the Chinese crypto community calls them, "air coins" - told about tokens, for which there are no legally registered companies - and stated that the number of these "air coins" increased by 30 times after the ICO ban.

While many business entities have moved their projects overseas following the ICO ban, a lot of these 'air coins' carried on fundraising in China without migration because they are loosely organized as a temporary team, not even a formal business entity.
 

CCTV

These projects often state that they are connected with well-known crypto-currency investors like Li Xiaolai, one of the first investors and bitocain evangelists in China, to appear legitimate.

99.99 percent of the time, I'm being associate with these projects without even knowing it. There's always this fear of missing out (FOMO) among investors. And when they can't make judgments by themselves, they tend to refer to whoever influential is associated with the project.
 

Li Xiaolai

Cryptocurrency investor

China's central television is not the first time trying to tell the public about the "chaos" that prevails in the crypto-currency market. Simultaneously, China's law enforcement agencies stepped up efforts to combat projects aimed at attracting investor funds through the sale of tokens.