Messaging giant Telegram has reached a staggering 900 million users. This augment has a direct impact Open Telegram Network (TON), a blockchain designed to work seamlessly with Telegram. TON witnessed something extraordinary 15% augment last week, highlighting its potential to become a major crypto player.

TON price action. Source: Coingecko

TONE: Economical transactions attract users

The key to TON’s recent success is its tight integration with Telegram. Users can ditch the hassle of separate cryptocurrency wallets and transact directly through Telegram’s native wallet.

This hassle-free experience, combined with low-cost TON transactions and free USDT transfers, is a major attraction for regular users who may be hesitant to dive into the intricacies of established cryptocurrency exchanges.

Gm 💎

Telegram reaches 900 million monthly dynamic users. Reach out if you are one of them. pic.twitter.com/B6AlwEK71B

— TON 💎 (@ton_blockchain) May 5, 2024

Agriculture in your chats

While TON makes everyday transactions easier, its goals go further. The Telegram ecosystem thrives on a network of apps and bots that introduce artistic ways to interact with your wallet. A perfect example is “farming,” which allows users to participate in decentralized finance (DeFi) activities using TON or other tokens, all within the familiar Telegram interface.

Total crypto market cap currently at $2.323 trillion. Chart: TradingView

This “farming” feature directly in chat windows shows how TON supports deeper integration with cryptocurrencies. It breaks down the barriers between messaging and finance, potentially leading to a more seamless adoption of cryptocurrencies in our everyday digital interactions.

Safety concerns

However, TON’s path to mainstream adoption is not a bed of roses. The biggest thorn in his side is security. While an integrated wallet offers undeniable convenience for petite transactions, security experts have raised concerns about its suitability for storing enormous amounts of cryptocurrencies.

TON weekly price ascent. Source: Coingecko

Unlike established hardware wallets, which are considered the gold standard for secure cryptocurrency storage, Telegram’s software wallet may be more vulnerable to hacks and breaches. This could be a significant deterrent for users who are wary of entrusting their hard-earned cryptocurrencies to messaging apps.

Regulating rope

Another upcoming challenge for TON is the ever-changing regulatory landscape around cryptocurrencies. Governments around the world are still struggling to manage these digital assets, and regulation could significantly impact the way TON operates in various markets.

Navigating this tight regulatory tightrope will be critical to TON’s long-term success. The network must ensure compliance with changing regulations while offering users the functionality and freedom they expect from a decentralized blockchain.

Featured image from Pexels, chart from TradingView