Toncoin, the cryptocurrency based on Telegram’s abandoned blockchain project, may now be sent directly from chats within the messaging service. TON (The Open Network) announced on Twitter that Telegram now allows Toncoin transactions with no costs.
TON provided a little video demonstrating how cryptocurrency transactions work on the site. To begin, add Telegram’s Wallet bot to your attachment menu, which will allow you to “buy cryptocurrencies by bank card, exchange, and transfer to other wallets.”
When you’re ready to send crypto, open the Wallet from your attachment menu while in a chat, input the amount of Toncoin to send, confirm all the details, and then hit “Send.” Toncoin will be delivered to your receiver via chat.
Following pressure from the Securities and Exchange Commission, Telegram shut down its own cryptocurrency activity in 2020. (SEC). The project, formerly known as the Telegram Open Network (TON), was founded in 2018 by Telegram CEO Pavel Durov and his brother Nikolai. After failing to record the $1.7 billion in sales received as part of its pre-Initial Coin Offering, the SEC ordered Telegram to cease sales of Gram, the token associated with the TON blockchain, a year later.
Even after Telegram abandoned the TON project, a group of engineers renamed it The Open Network and rebranded Gram as Toncoin. Last December, Durov stated his support for the project, saying, “I’m glad that the technology we created is alive and evolving. TON is still years ahead of everything else in the blockchain sphere.” The TON Foundation raised $1 billion in donations earlier this month.
