The Ethereum killer was born? What is Telegram's TON blockchain?

More than a month after the official release of the Telegram TON blockchain, Telegram's first cryptocurrency project will be one of the biggest threats to Ethereum to date.

Internet-3113279_1280

Image source:

In recent years, many potential assassins have lined up to kill Ethereum, the world's largest smart contract zone platform, but none of them succeeded.

However, with Ethereum compatibility already advanced testing on TON, will Telegram's more than 300 million user groups be more attractive to blockchain developers?

Telegram is aiming at the cryptocurrency tweezer

The White Paper of the Telegram Open Network (TON) lost no time in declaring its intention to launch into Ethereum.

Cited in the white paper (emphasis added):

"Our goal is [TON] to carry all the reasonable applications that are currently proposed and envisioned. Some might think that TON is a huge distributed supercomputer, or rather a huge super server."

The white papers of thousands of blockchain projects have been so brazen in the past, especially those that are designed to host applications and run smart contracts. And TON's goal is to take care of both. Its upcoming Solidity compiler means that these applications and contracts will interoperate with Ethereum.

However, compatibility with Ethereum has become a common feature of many blockchain platforms in recent years, so what other platforms can Telegram provide?

According to the white paper, TON will be able to process millions of transactions per second. Its goal is to achieve this by using a "blockchain of blockchains".

The front is a masterchain, along with a series of workchains, the number of these chains will not exceed 4,294,967,296. These work chains are then divided into 1,152,921,504,606, 847,000 shardchains—all in order to provide the scalability needed to serve Telegram users.

Is TON the Ethereum killer we have been waiting for?

Many blockchains are trying to become "Ethereum killers." Will Telegram succeed?

Ethereum is already the best-developed blockchain project. The number of developers contributing to the Ethereum ecosystem is four times that of Bitcoin.

The important thing is not only the number of developers, but also why they are there. Ethereum may become a decentralized, unauthorised version of the Internet. Regardless of the size of the Telegram user, will the Ethereum developers really turn so eagerly to Telegram?

Ethereum plans to expand its own segmentation technology next year, and the battlefield pattern of Ethereum and Telegram will have to be redrawn.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

The undead black swan: from ICO to IEO

If you want to discuss the biggest hot spot in the currency this year, many people will say that it is IEO. The curre...

Opinion

Wall Street Journal Binance Empire on the Verge of Collapse

After the collapse of FTX, the largest cryptocurrency exchange in the world seems to be Binance. However, less than a...

Blockchain

A brief history of crypto exchanges: a glimpse into the evolution of the most powerful organization in the blockchain industry

Written by: Nathaniel Whittemore & Clay Collins Compilation: Lu Jiangfei Source: ChainNews ChainNews I. Preface T...

Opinion

Caroline Ellison testified in court Acting on the instructions of SBF, embezzlement of approximately $14 billion in FTX client funds.

The Manhattan courtroom was crowded on Tuesday as Caroline Ellison, the former girlfriend of SBF and former CEO of Al...

Blockchain

"Gemini" Risk Control Interview: How the Traditional Financial Regulatory Framework Maps to the Crypto Industry

Source: Yahoo Fiance Original author: Daniel Kuhn Translator: Moni Source: Odaily Planet Daily Talking about the Appl...

Blockchain

"New and old" exchanges compete on the same stage, how can you play in the future? | Interview with SheKnows

Exchanges are an important part of the blockchain ecosystem. They interact directly with users and therefore change a...