Telegram users will soon be able to make payments in cryptocurrency Toncoin

"TON Community is proud to announce that TON blockchain and Donate, a payments service verified by Telegram, have become official partners," said the blockchain protocol on its official Telegram identifier.

This development comes as Telegram CEO and co-founder Parel Durov revealed that the Telegram Open Network (TON) blockchain technology is still in development after the company officially abandoned the project last year. “I am proud that the technology we have created is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain space, ”Durov said in a Telegram article Thursday.

It should be noted that Telegram aimed to explore Web3 with decentralized storage last year, this project was called Telegram Open Network blockchain. However, the project was abandoned after it ran into a controversy with the United States Securities and Exchange Commission accusing Telegram of a violation of securities law.

Durov noted that the project had been moved from TON to Toncoin. Unlike the original TON, the new project is independent of Telegram.

“When Telegram said goodbye to TON last year, I expressed the hope that future generations of developers will one day continue our vision of a blockchain platform for the mass market ... So I was inspired to see the competition champions of Telegram coding continue to develop the open TON project, which they renamed it to Toncoin… I am proud that the technology we create is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain realm. It would have been a shame to see that this project does not benefit humanity, "added Durov.

Meanwhile, Meta Platforms Inc (formerly Facebook) also faced a similar backlash from lawmakers and regulators, keeping its cryptocurrency Libra (now renamed Diem) linked project since its launch since it was conceived.