Telegram launches Gram token within two months

Telegram is finally ready to release their own token. That is also possible, after they have collected more than 1 billion dollars with one of the most successful ICOs ever.

Altcoins not nearly dead yet

Currently there are thousands of different tokens and cryptos to trade. Many of them die from it, but new coins are still being built. New coins are also being added through various exchanges. Consider the Initial Exchange Offerings (IEOs).

And as you know, Facebook is also working on their own cryptocurrency: Libra. At the moment they no longer have the wind, public opinion seems to have turned against their plans.

Telegram is also in the social media corner so it is interesting to keep an eye on this coin release.

Gram Token

Last year the news came that Telegram wanted to publish its own token. Within a few months she raised approximately 1.7 billion dollars with an Initial Coin Offering (ICO).

Compare this with Facebook and Uber, which took seven and five years respectively to raise 1 billion dollars.

Criticism

Tall trees catch a lot of wind, but Telegram did get a lot of criticism back then. There was no working prototype yet. However, this did not prevent investors from participating. It seems as if investors are finally being rewarded. Telegram has announced that they will be issuing their Gram tokens somewhere in the next two months.

Wallet

Moreover, Telegram also says that the wallet for the Telegram app is also almost ready. Good news for all 300 million users. The giant hopes that Gram tokens will facilitate cross-border payments, making transfers much easier. This goal is comparable to what is stated in the Libra white paper.

The first batch of tokens will be released on October 31 at the latest. The tokens are on Telegram’s own blockchain, the Telegram Open Network (TON).

Trade gram

Button wallet will be the first wallet with which you can manage Gram. This serves as a kind of test for the rest of the network, naturally in collaboration with Telegram.

Alex Safonov, co-founder of Button Wallet:

The biggest obstacle to crypto is mass acceptance. What we have created will help people get used to trading in cryptocurrency without using real money. With all the fanfare around the Libra digital currency of Facebook, there was no simple way to get in touch with crypto until now. Until Button Wallet and the Telegram Open Network.

Unlike the Libra, the Gram is absolutely no stablecoin. The value is determined on the basis of supply and demand.