The Telegram ICO has been in the news lately thanks to the fact that it is on track to be the biggest initial coin offering ever. Up to $2 billion is due to be raised by the team behind the messaging app, with current indications appearing to show that the demand exists for this target to be entirely realistic.
$850 million has been raised through a private sale to large investors in January and February. The public sale of the remaining tokens will then take place between dates to be confirmed in March 2018.
Many details are still set to come out for the Telegram ICO, but here's what we know so far:
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Website: Telegram (Investors have been advised to be aware of scam sites and to check here for updates)
Token: TON tokens
Hard Cap: $2 billion
Payment Methods: TBD
Total Cap Size: TON tokens
Technology: TON Blockchain
Pre-ICO Date: January-February 2018
Public Sale Date: March 30, 2018
The Telegram messaging app has been around for a fairly long time – founded in 2013 – and it has proved to be very popular with members of the crypto community. This has led to the team behind it coming up with ambitious plans that could lead to its payment platform bringing digital tokens to the mainstream.
While there has been little official word about this to date from Telegram, the reported leak of the white paper online has led to a lot of speculation about what this ICO will be all about it, as well as its chances of success.
Project Use Case
The plans from Telegram include their network being used for a number of different situations, in addition to paying for goods and services on the Telegram ecosystem. The idea is that the TON tokens can also be used to pay commissions to validators, as stakes for validation, and as payment for proxy services among other things.
However, it is the possibility of this token becoming a mainstream payment method that has made it such a newsworthy ICO. It is classed as a third generation blockchain solution, with the prospect of more impressive scaling and transaction handling that can currently be achieved with Bitcoin or Ethereum.
Bearing this in mind, the Telegram Open Network currency could easily be used to pass payments between the 180 million current users of Telegram, and many more people as it grows. This could see it evolve into what the team describes as a “truly mass-market cryptocurrency,” replacing traditional payment methods in a way that other digital currencies can’t.
Telegram Team Overview
The main men behind Telegram are the co-founders, Dr. Nikola Durov and Pavel Durov. Both have an excellent track record in programming, while the massive success of Telegram as a messaging app raises hopes that they will make the ICO and the token a huge success as well.
Under the “other notable team members” section we can see the likes of Aliaksei Levin, Vitalik Valtman, and Arseny Smirnov. All of these people come with a strong programming background.
The leaked white paper shows what appears to be a rather less diverse team than we have seen in other ICOs, where typically a range of team members will come from different backgrounds. However, their existing success with Telegram means that there is a lot to like about the team make-up.
How Does The Token Work
As stated earlier, the overall aim is to make the TON token a true mass-market currency. To this end, it is designed to be a simple-to-use currency that anyone can use to pay for a wide variety of goods and services.
The TON Light wallet will allow users to store their coins, in order to make micro-payments to other users. The division of TON storage, TON proxy, and TON services leads to a number of different areas in which users can pay using this token.
What Do Investors Gain
Hopes of this being a hugely successful ICO mean that there is already talk of how high the currency could rise. This is largely down to the fact that Telegram is the most widely used communication tool in the crypto community, so it seems only natural that people will use its currency.
Indeed, at the writing there are reports of demand being greater than supply for the private sale, and of there being a secondary market already in place. If this new currency becomes the success that the team expect it to be then its value could increase greatly in very little time.
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Opportunities & Risks
The opportunity has been laid out clearly in the leaked Telegram White Paper. There is a lot of interest in cryptocurrencies right now but, for various reasons, the likes of Bitcoin and Ethereum aren’t seen as being perfect by everyone.
The TON token will, in theory, give a speedier and more efficient performance. It is hoped that this will mean that it becomes the first digital currency to become popular with mainstream users.
On the side of risks, it should be noted the roadmap shows the 2nd quarter of 2019 as being the date for launching these services. A lot could happen between now and then that stops the finished product from being the success that many people expect it to be.
ICO SIGNALS :
There is a lot of talk of the Telegram ICO being the most successful initial coin offering of 2018. That is definitely a possibility and there is no doubt that it is something well worth keeping an eye on.
However, the optimism has to be tempered by the knowledge that there is still a long way to go before Telegram has a working product ready to launch. But at least they have the attention of the majority of the crypto community.
At the moment, there appears to be every possibility that this could become a very successful ICO, but it is still too early to be completely confident about how good an investment this will be in the long term.