With more than 950 million active users globally, Telegram has established itself as a leader in the fusion of blockchain technology and communication. Telegram’s integration with TON blockchain and extensive user base are helping to provide a more approachable and intuitive crypto experience.
The Connection Between Telegram and TON
The beginning of Telegram’s cryptocurrency adventure may be traced to its association with TON, a decentralized blockchain platform that was first created by Telegram. The two organizations had to split apart due to regulatory obstacles, but they have subsequently reconnected in a mutually beneficial partnership that is changing the cryptocurrency market.
At the Token2049 in Dubai in March 2024, Telegram’s creator Pavel Durov declared that the messaging service would only employ TON for all of its cryptocurrency features. With this choice, Telegram’s position as a cryptocurrency facilitator underwent a sea change, opening the door for a slew of developments that would increase public access to cryptocurrencies.
Making Crypto Payments Easy
Telegram is leading the way in cryptocurrency adoption with its streamlined payment mechanism, among other important ways. Telegram has made cryptocurrency transfers as simple as sending a message by integrating with TON. Within the well-known Telegram interface, users may now utilize stablecoins in place of fiat money and make payments in TON tokens for advertisements within the app.
On-chain transactions have soared as a result of TON’s blockchain’s user-friendliness; on average, over 11 million transactions are processed daily. This rise is a reflection of both the growing use of cryptocurrency payments and the growing significance of blockchain technology in daily digital interactions.
Photo: Daily transactions on TON, TonStat
The native Wallet on Telegram offers an integrated P2P marketplace, making the cryptocurrency experience even more straightforward. Users may utilize fiat currencies to purchase or trade cryptocurrencies like TON, USDT, and BTC here. The Wallet provides a full crypto experience without requiring users to leave the Telegram environment by supporting cryptocurrency trades, staking, and earning APY on certain coins.
Web-3 Features and Mini-Apps
The integration of TON’s blockchain by Telegram is a prime example of how Web3 technology may revolutionize financial access and digital services. The Telegram platform has established a link between the realm of dApps and conventional communications by launching “mini-apps” that function inside the Telegram program.
The variety of mini-apps available on TON, from financial applications to games, has greatly increased transaction volume. Over 13.5 million transactions have resulted from games like “Dogs” on the network, proving that Web3 capabilities may attract regular users who might not normally interact with cryptocurrencies.
Due to its “work chain” architecture, TON enables great transaction throughput. However, the Lost Dogs token airdrop recently brought significant scaling issues to light, especially for validators using outdated hardware. These problems highlight the continuous effort required to grow blockchain to support millions of users.
Developers are presently working on a range of financial apps, such as DEXs and non-custodial wallets, that are intended to operate within Telegram. With its expanding suite of financial features, Telegram may be able to provide users with a full Web3 experience without forcing them to abandon the daily app they use.
Gamification for Retail Onboarding
Gamification is one of the best onboarding tactics Telegram and TON have used for retail users. Millions of people have been drawn to mini-apps like Dogs, Hamster Kombat, Notcoin, Blum, Hot Wallet, and Pixelverse without even realizing they are interacting with cryptocurrencies.
These games are easily integrated into Telegram’s current environment, allowing users to play without the need to comprehend complicated crypto principles. It has been shown that emphasizing fun over crypto technicality is a successful onboarding approach.
More than 50% of Telegram tap-and-earn users stated that they had never interacted with Web3, according to Gleb Kostarev, co-founder and CEO of Blum. This example demonstrates how Telegram’s strategy has the ability to educate people who may otherwise be afraid of digital currencies to a wider audience.
The secret to these mini-apps popularity is their simplicity. Users don’t need to understand anything about staking, gas costs, or private keys to play in or gain from these games or apps. Through the use of well-known and entertaining activities, Telegram’s mini-apps are successfully introducing a wider audience to the world of cryptocurrencies.
An Established User Base’s Power
Telegram’s large pre-existing user base is one of its biggest advantages in promoting the adoption of cryptocurrencies. Telegram, which has hundreds of millions of active users globally, has the ability to educate a large audience about cryptocurrencies to those who would not have otherwise looked into them.
The strategy employed by the platform capitalizes on users’ pre-existing knowledge and confidence with Telegram. Telegram eliminates many of the obstacles that often keep beginners from learning about cryptocurrencies by incorporating their functionality within a chat service that people use on a regular basis.
This approach stands in contrast to the difficulties encountered by stand-alone Web3 applications, which frequently fail to draw in consumers because of poor brand awareness and the requirement that users download and get familiar with new apps. With Telegram’s method, millions of people may immediately use crypto technology without having to adjust to a high learning curve or modify their current behaviors.
The New Age of Mini-Apps
Perhaps Telegram’s most inventive crypto approach is its mini-app (TMA) capability. These small, Javascript-based services work immediately within the Telegram chat window, providing an array of features without requiring complicated settings or extra downloads.
Almost every use case, including banking, gambling, and retail, may be implemented with TMAs. Together with Telegram’s payment interfaces, they provide a potent ecosystem for services and transactions centered around cryptocurrencies.
What’s more, these mini-apps can be decentralized blockchain-based applications that bridge the gap between Web3 and regular messaging apps. Given this flexibility, developers from various areas of the cryptocurrency space might potentially leverage Telegram’s large user base to launch new products, benefiting both users and developers.
In the future, there’s a good chance that Telegram may develop into a “super-app” similar to WeChat. Telegram has the potential to become a major center for communication and cryptocurrency-related activities by providing a wide range of services on a single platform, including financial transactions, messaging, and decentralized apps.
The platform may be able to increase its utility and reach in the cryptocurrency market as a result of its choice to be blockchain-agnostic and enable the possible integration of blockchain platforms other than TON. This strategy may establish Telegram as a global Web3 gateway that developers and users from many blockchain ecosystems can access.
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