TON

Despite the termination of Telegram’s blockchain project, users will need to install their own testnet validators for continuous usage of the network. Since the termination of the Telegram Open Network (TON) two months ago, the TON test net has apparently continued to run. In an update provided by the official TON development group on July 6, TON's support by the test network will be discontinued. They will turn off the remaining TON validators by August 1. Based on the recommendation of the…

On May 12th, 2020, Telegram founder and CEO Pavel Durov announced the Telegram Open Network (TON), the messaging company's highly anticipated blockchain platform. The news that Telegram had been forced to abandon its TON project symbolized sustained pressure from regulators in the U.S to impede social media-backed cryptocurrency ventures. That said, the project's source code remains freely available on Github, so other developers can technically use it to develop their version of the Telegram Open Network. The original TON development…

The TON community has marched on to build the "Free TON Blockchain" despite the legal battle between Telegram and the (SEC) The community claims that Telegram can no longer be involved in the project given the regulatory hurdles it faces from the SEC A vast majority of TONs will be distributed among users for them to participate in staking for the new blockchain On May 7th, 2020, the Free TON community launched the Free TON Blockchain and its native token…

The Commodity Futures Trading Commission(CFTC) gave their opinion on the ongoing legal battle between telegram and Security Exchange Commision. On February 18, CFTC filed a letter after a New York Southern District Court Judge requested their opinion on the tussle at hand. The dispute is based on the functionality of Telegram’s digital currency, Gram. The letter states that the digital currency should be regarded as a commodity and not a security. Despite the letter getting released by the office of…

On the 6th of January 2020, in a blog post, Telegram clarified that its native token, Gram, is not an investment product. Telegram further explained that people should not expect profits by purchasing or holding the token. On the other hand, the US SEC is in charge of securities in the United States. The SEC recently filed a court application against the platform offering Gram token, assuming that the token is under the commission’s jurisdiction. Is Gram Designed for Ton…