Telegram releases code for its PoS-based TON Blockchain
TON, the upcoming blockchain project from Telegram, has entered its last stage of development before being released. The messaging giant is in the news again after Telegram released the code for running a TON blockchain node on its testnet portal, code that will allow developers and community members to start experimenting with it. While the release was intended to happen on 1 September, there was a delay due to reasons unknown.
According to Mitja Goroshevsky, CTO of TON Labs, the testnet already has over 100 nodes maintained by Telegram itself. Goroshevsky added,
“Source code for a full node that can access testnet, create and validate blocks has been released. Lite client was released several months ago. TON Labs will release Public Beta of its developer tools suite on Monday”
The CTO added that Telegram would release a public beta-version of its developer tool on Monday.
Telegram’s TON blockchain uses a proof-of-stake algorithm to validate transactions using multiple ‘shardchains.’ According to TON Labs, the blockchain will also be compatible with Ethereum-based software.
The main network launch for the Telegram Open Network is set to happen on or before 31 October. Telegram is also planning to launch its own token, GRAM, which is said to be based on the Telegram Open Network. TON will see various applications that mimic the larger cryptocurrency and blockchain ethos, with decentralized applications, tipping features and more.