Pantera Capital recently announced a new round of investment in TON. TON is a layer 1 blockchain network originally designed by Telegram and continuously developed by an active open source community. We firmly believe that TON has the ability to popularize cryptocurrency to the masses, thanks to its widespread use in the Telegram network. Telegram, as a future-oriented, fast and secure messaging platform, has more than 900 million monthly active users and is widely used in many fields such as personal and team communication, large community building, content sharing, etc.
We believe that by leveraging Telegram’s massive user base, seamless user experience, and the vitality of the emerging TON ecosystem, TON has the potential to grow into one of the leading networks in the cryptocurrency space.
Among the world's leading communication tools, Telegram is unique in that its platform not only deeply embodies the core spirit of cryptocurrency, but also has remarkable universality. Telegram's monthly downloads often exceed its closest competitor, Signal, by as much as ten times. For example, in January 2024, the number of downloads exceeded 36.7 million.
A partner at Pantera Capital explained why we chose to invest in the TON network:
So how does it compare to other messaging apps? Telegram is currently the only mainstream platform that has no regulatory barriers and can seamlessly integrate Web3 technology into its open blockchain network. Facebook's Messenger tried to combine crypto payments with Libra, but was eventually forced to give up due to regulatory pressure from the United States. Although WeChat tried to integrate CBDC payments for the digital yuan, the system has limited application scope and developers lack the ability to create permissionless applications.
We firmly believe that Telegram is in a favorable position to bring cryptocurrency into mainstream society due to its shared Web3 spirit and broad user base.
TON is a blockchain project created by Telegram, whose goal is to leverage the huge user base of messaging applications to build a decentralized network that can support a variety of applications. The TON ecosystem consists of multiple core components, including TON blockchain, TON storage, TON DNS, and TON services, which are tightly integrated with each other for seamless operation.
The TON blockchain is the core of the system and is designed with high performance and scalability in mind. By adopting a dynamic sharding mechanism, the TON blockchain is able to process transactions quickly, ensuring that the network has excellent processing power. This architectural design ensures that TON can process millions of transactions per second and scale effectively as the number of users grows. Therefore, TON is undoubtedly an ideal choice for developers who want to launch applications for hundreds of millions of users without compromising speed and security.
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