Hedge fund Pantera Capital has claimed that one project that has become "the largest investment in the company's history" could bring cryptocurrencies to the masses.
Dan Morehead, CEO of Pantera, said Telegram's messaging platform's own Tier 1 #blockchain network, Toncoin (TON), has more to offer than other projects in terms of building a large community. The new statement cites significant benefits.
According to CoinMarketCap, which counts more than 23,000 #cryptocurrencies , 99.999% of blockchain projects are tech ideas that try to build a community out of nothing. For most of them, it's a difficult journey.
Telegram is a community integrating blockchain technology. It should be easier.
According to Statista, Telegram has more than 900 million monthly active users.
Given that Telegram has a built-in #cryptocurrency wallet, the hedge fund argues that this is beneficial for attracting a large existing user base to the digital asset ecosystem without the complexities associated with traditional wallets using initial phrases.
Dubai-based Pantera also claims that Telegram is largely free from the regulatory hurdles faced by digital asset projects in jurisdictions that are not cryptocurrency-friendly, such as the US.
What about the other major messengers? Telegram is the only major platform free of regulatory barriers to incorporate #ETFvsBTC into an open blockchain network; [Facebook] Messenger attempted to introduce crypto payments with Libra, but ended up running into obstacles from the U. S. , leading to a full It led to a shutdown.
WeChat has attempted to integrate CBDC payments in digital yuan, but the scale of the system is limited and developers are unable to build apps without authorization.
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