Telegram Open Network Platform to be 70% Done

This became known from the documents published by Button co-founder Mike Dudas
22 November 2018   888

Pavel Durov's blockchain project Telegram Open Network (TON) is 70% complete. This became known from the documents published in the network, dated the fifth of September. They were announced by Button co-founder Mike Dudas.

They confirm previously published information that the TON Virtual Machine (TVM) smart contract mechanism is “fully implemented and tested.” Its readiness is estimated at 95%.

It is also noted that at the completion stage there is a component for executing transaction requests in the TON network. At the same time, the software for block validation is only 10% ready.

TVM is fully implemented and internalyl tested. Minor modifications are likely to be necessary during the process of binding TVM with TON blockchain generation and validation software.

"TON Development Status" document

In 2018, Telegram in the course of two rounds of the closed ICO raised $ 1.7 billion to develop the project.

BitMax to Advise Lition ICO to 'Put Aside' $1M

Bitmax exchange believes that $1M for $5M project is a good amount for 'market making' and price support
26 March 2019   91

The ICO-project Lition, which is developing a blockchain with the ability to delete data and completed raising funds last week, is unlikely to be able to release its token to the Singapore BitMax exchange, currently leading in terms of the stated trading volume.

Negotiations between Lition and BitMax stalled after the latter agreed to list the token on its own terms, writes Trustnodes, citing a statement by a prospective ICO consultant.

The listing is technically ‘free’ when services such as market making are purchased. However the fee quoted was extortionate (believed to be 1 million dollars for the market making budget on Lition which is a 5 million dollar cap project).

This took place on Thursday, the day of the sale. The Lition team were completely bemused by the quote and no agreement was signed. Bitmax then went public and announced they are currently not in discussions with Lition and wished them all the best.

'ICO Consultant'

Bitmax’s CEO, George Cao, then publicly confirmed the $1 million request, stating there’s no hard feelings regarding the fallout, “we had different views on business and listing strategy.”

BitMax Telegram Chat
BitMax Telegram Chat

In February, it was reported that imposing additional services on projects wishing to be listed on trading platforms could be dealt with by the KuCoin and OKEx exchanges.