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According to some reports, Telegram Open Network (TON) will be compatible with Ethereum. The company is set to release the code to run a node on the Telegram Open Network (TON) on Sunday.
It seems that Telegram messenger is planning to begin public testing of its long awaited blockchain, TON (the Telegram Open Network) on September 1.
As per Russian business paper Vedomosti, this information was shared with them by a TON investor who got that information from the Telegram messenger team and the head of a company that was engaged in the recent, closed TON testing phase.
The latter said that instructions for installing a node and the necessary code will be revealed to the public, and will enable any developer to create their own TON node.
The source also added that TON’s sharding and its consensus mechanism for confirming new blocks in the blockchain will be available to test as well.
TON Labs is also said to be building numerous tools for developers in order to help them build on the new network. TON Labs CEO and managing partner Alexander Filatov said that one of these tools will be a Solidity compiler, which will allow decentralized applications built for Ethereum to also run on TON. He said:
“That was probably the most difficult thing we built. It will allow the advanced Ethereum community to pull everything they wrote for Ethereum into TON.”
Back in May 2018, Telegram, founded by self-exiled Russian entrepreneur Pavel Durov, raised $1.7 billion for TON claiming that it will process transactions much faster than both the Bitcoin and Ethereum blockchains. Not just that, but this UAE-based company even said that, in terms of speed, it will be the same as Visa.
At the time, some were thinking that plans for Gram token were a little too grand because there was no working prototype. However, this didn’t stop venture capitalists from getting with the program. Now, Telegram has disclosed to its investors that sometime in the next two months, it will be releasing the first sets of the Gram tokens as initially planned.
However, the whole project has been covered with the veil of secrecy and disputation, and the fact that Telegram messenger itself suddenly became a medium for both democracy campaigners and terrorists, does’t really help. At the time of writing, the platform has more than 300 million registered users.
There were also plenty of detains that were happening. Testing of TON should have happened back in the second quarter of 2018, but haven’t begun until April this year. As per Vedomosti sources, participants in the closed testing experienced some issues while installing a test node.
It is recommended by the experts that at least 100 nodes are needed to test the scalability of the project.
The company also promised to launch a working blockchain network by October 31, 2019, or it will return investors money if they fail to do so.
Filatov said that this code release will be the most important stage of TON’s rollout:
“We have very little time between the node release and the mainnet launch to test, identify and fix possibly bugs and vulnerabilities.”
However, this week some reports said that development should meet deadlines and that the first batch of TON’s Gram cryptocurrency would be released “in the next two months” and from the company, they said they are planning to give its 200 million-plus users access to GRAM wallets.