In September, Telegram sent letters to investors informing them about the development of the Telegram Open Network (TON) blockchain platform. The letter reads that the service is 70% ready, “Vedomosti” reported. Two Telegram investors confirmed the authenticity of the letter.
The report says that TON Virtual Machine (TVM), the mechanism of smart contracts, is ready for 95%. The development of protocols and the TON blockchain network is also in the process of completion.
The test version of TON will be launched at the end of autumn.
As previously reported, Telegram refused to hold its public ICO. Paul Durov said that the company raised enough funds during the private ICO – $ 1.7 billion.