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Telegram to launch TON blockchain later this month

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Thu, 03 Oct 2019, 17:17 pm UTC

Telegram’s blockchain project, Telegram Open Network (TON), is on track for its scheduled launch this month, as per an email sent to TON investors.

Original investors received emails from the Telegram core team,” a post from the Telegram channel dedicated to the project stated.

The encrypted messaging service provider added that investors are given TON Key Generation Software and are required to provide Telegram with a public key to receive their Gram (GRM) tokens, the platform’s native token, by Oct. 16. TON’s entire source code is now available on Github.

Notably, the announcement also included governance matters, saying that “investors have to select validators. Neither Telegram nor the TON Foundation will serve as validators post-launch.”

The project is scheduled to be rolled out no later than Oct. 31, based on the existing agreements with TON investors.

Meanwhile, the announcement follows after Telegram initiated a contest for developers with a prize fund of up to $400,000 to build smart contracts for the TON blockchain. The competition, which will end on Oct. 15, includes building smart contracts using the tools in the TON blockchain and pitching improvement suggestions for TON Blockchain bug bounty contest and TON Virtual Machine, and FunC.

Telegram launched the TON Testnet explorer and node software on the test network portal last month. The app is reportedly maintaining 100 nodes on the testnet, and several more others are maintained by TON Labs.

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