Telegram Open Network Platform to be 70% Done

This became known from the documents published by Button co-founder Mike Dudas
22 November 2018   414

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.

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   114

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.