The Chinese TON (Telegram Open Network) community group is among a number of community-led actions to roll out the rejected Telegram Open Network. In an announcement made on May 29, the Chinese TON group announced that it would launch its own network, less than a month after Telegram had been forced to ditch its blockchain project.
Telegram has been developing the ditched TON project since 2018. The CEO and co-founder of Telegram, Pavel Durov, envisaged the Telegram Open Network as a way of sending digital currency to its 400 million Telegram messenger users.
The ambitious blockchain was set to be launched back in October 2019, but the date was postponed due to the pending SEC lawsuit that criminalized Telegram’s $1.7 billion ICO. Eventually, the case turned out to be the end of the TON blockchain project after a few months in court. Telegram had no choice but to abandon the entire project together. And to refund their money back to the investors.
Chinese TON community trying to keep TON project alive
The Chinese TON community is among a number of communities aiming to continue with the TON blockchain project. In particular, there is Free Ton and New TON, two of whom want to set the Telegram Open Network going, using the open-source code availed by Telegram.
According to Mitja Goroshevsky, the co-founder of TON Labs and an ex-developer of the ditched TON project, he does not feel intimidated by the Chinese TON community. He said that the success of a community-led TON project “will and should be merit-based.” He added that there are only benefits to be gained.
Nevertheless, the Chinese led group might want to pass-on, as Free TON was rolled out back on May 7. Additionally, the TON Labs founder anticipates the entire network to launch in over a month, with cryptocurrency exchange platforms already revealing their interest in the native token, TON Crystals.