Telegram’s Blockchain Project – TON Releases Code for $1.7 Billion

TON, a Telegram’s blockchain project, has entered the last preparation stage earlier than going dwell.

The code for operating a blockchain node was delivered on the test network portal late Friday. Now developers and group members within the messaging app provider’s blockchain can start beating the casings of a validator node, a full node, and the blockchain explorer.

The release had been beforehand scheduled for Sept. 1, based on the sources familiar with the undertaking’s progress, however, was delayed a couple of days for unclear reasons.

Mitja Goroshevsky, the CTO of TON Labs, which is connected on tools for devs, there are at present 100 nodes maintained Telegram itself on the test net. Several more are supported by his startup, helmed by traders in Telegram’s token sale, which raised $1.7 billion in early 2018.

The Telegram Open Network mainnet launch is about to occur no later than Oct. 31.

Telegram’s blockchain is designed and created as a proof-of-stake protocol with the help of multiple “shardchains.” Validators, chosen from amongst these users who stake considerable amounts of tokens, will verify the blocks.

The TON blockchain can be compatible with ethereum-based software, under TON Labs.

This previous Thursday, closed a $1 million Pre-an Investment round led by Hashed, a South Korean blockchain VC agency, and Du Capital. gives information analytics for decentralized app products constructed on blockchains such as ethereum, EOS, Tron, steem, and others.

Based in 2017, Hashed is one of the largest cryptocurrency investment firms in South Korea. Its prior investments include Handshake, QuarkChain, and Oasis Labs.

Competitor dapp data analysis platform DappRader additionally closed a funding round this week, led by Naspers and Ventures.