Photo: Carl Court / Getty Images
Telegram will now allow its users to send and receive cryptocurrencies from the messaging application itself. People will be able to carry out transactions through The Open Network (TON).
The announcement was made by TON highlighted that the operations will not carry any type of commission, so users will be able to send Toncoin totally free from the chats of Telegram.
They explained that in order to send money, users must first add the Telegram bot wallet to the attachments menu. This virtual wallet allows the user to buy cryptocurrencies, through their bank card, which can then be exchanged with other users.
You can now send # Toncoin directly within Telegram chats!
It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.
Watch the video and test the new feature! pic.twitter.com/EtXSMFtJj6
— TON (@ton_blockchain) April 80, 2020
Once this is done, The person should be able to enter any chat, open the wallet from the attachment menu and enter the amount of Toncoin they wish to send. After selecting the amount and confirming all the details of the transaction, all that remains is to press the send button.
Subsequently, the person receiving the funds will receive a notification informing them that they have received the aforementioned amount of Toncoin.
Failed project
This is not the first time that Telegram is involved with sending and receiving of cryptocurrencies. Previously in the year 2020 those responsible for the application had tried to create a platform called Telegram Open Network (TON) which intended become an innovative solution in the sector.
However, the project could not materialize due to pressure from the Securities and Exchange Commission (SEC), which ordered Telegram to paralyze all its operations after allegedly not registering the $1,700 millions in sales raised as part of its Pre-Initial Coin Offering (ICO).
After this failure, the project was taken up by another group of developers who continued working to carry it forward the platform.
“I am proud that the technology we created is alive and evolving… TON is still years ahead of everything else in the realm of block chain”, said the creator of Telegram, Pavel Durov, in December.
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