During his statement at the Token2049 conference in Dubai, Pavel Durov, the founder behind Telegram, communicated his commitment to blockchain technology and divulged aggressive designs for the application’s future. Durov stressed blockchain’s ability to promote freedom and privacy, featuring Telegram’s liking for these qualities. He declared intentions to use The Open Network (TON) to extend functionality and present innovative elements.
Read Also: Dogecoin’s Battle with Resistance Levels: Insights and Analysis
Rather than other major messaging and social media spaces that offer users’ information to promoters, Telegram has embraced an alternate way for monetization. The organization as of late revealed plans to share income to content creators through its Ad Network.
Durov depicted this income-sharing model as one of the most liberal throughout the entire existence of the social media space. He stated that half of the income produced from ads and broadcast channels would be shared with channel owners and content creators who use the TON Network.
Read Also: XRP Community Rekindles Hope for Tesla Adoption After Lower-Priced Model Y Announcement
Telegram Expanding Functionality
By utilizing a blockchain protocol, Telegram plans to beat the impediments imposed by Apple and Google on in-application buys and payment processing. While these restrictions exist, Telegram has empowered application designers and merchants to sell physical goods and services by integrating 40 payment providers, including Stripe.
Following Durov’s statement, stablecoin operator Tether announced the launch of USDT and Tether Gold (XAUT) stablecoins on the TON Network. While Telegram at first created TON, a fight with the US SEC prompted the venture’s handover to a group of open-source developers, bringing about the establishment of the TON Foundation in May 2021.