Telegram’s TON Blockchain on Track for Late October Launch
- Investors in the ICO need to provide Telegram with their public keys so they can receive their Gram (GRM) tokens.
- The TON blockchain is geared to support Ethereum DApps out-of-the-box.
Illustration of the Telegram logo thrown in the air. TNW
The long-awaited Telegram Open Network (TON) launch is on track to be launched in late October, the company informed TON investors on 2 October.
According to a message posted on the official TON Board on Telegram, the launch of the network follows a successful testing stage.
Investors were also advised that, in order to receive the Gram (GRM) tokens they bought, they need to provide Telegram with their public keys, using the key generator.
The message also said that Telegram will not be running the network, and that:
“Investors have to select validators. Neither Telegram nor the TON Foundation will serve as validators post-launch.”
In September, Telegram released the TON test network, and also made the code needed to run a TON node publicly available.
It is also expected that decentralized applications (DApps) built for Ethereum will work on TON.
As previously reported, TON Labs, a software startup managed by investors in Telegram’s token sale, has been working on a Solidity compiler for the TON blockchain.
The compiler is only one of the tools that TON Labs is building in order to improve the TON ecosystem, and even though it was not said if any changes would be needed to the Solidity code of a DApp so it can run on the TON blockchain, the compiler has been in testing since July.
A competition to build smart contracts for the TON blockchain was announced last week. The rewards ranged from $200,000 to $400,000, with the competition consisting of three parts.
First was to build one or more smart contracts using the tools provided, second is to suggest improvements to the TON Virtual Machine and FunC, and third was a bug bounty contest.
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
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- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
- The current chaotic payroll system, marked by inefficiency and delays, stands to be completely overhauled through the use of blockchain technology.
- While blockchain might not take over all computing as some claim, it definitely has clear benefits in certain scenarios, and payroll management is one of them.