Will Pavel Durov's TON Live Up to Lofty Promises?
2017-2018 was a pretty wild time in the cryptocurrency industry. Bitcoin hit its all-time-high of $20,000 with Ethereum also breaking records. Success seems to breed imitation, and many ICO projects sprouted up. Some were flat out scams such as Centra Tech, others failed shortly after launch like STOX, and a few delivered a product, like Bancor.
The equivalent of dozens of millions were invested in cryptocurrency projects without even so much as a prototype. One of the largest of its era was Telegram's TON token. Despite not having a public sale, TON managed to raise the equivalent of $1.7 Billion dollars.
Now roughly a year later, screenshots were allegedly leaked of TON's wallet called GRAM
GRAM What You Need to Know
The following screenshots were provided by TGinfo.me. Hats off to them for the reveal. They were allegedly taken from an alpha version of the app Telegram for iOS.
The GRAM wallet will be built into Telegram and will be linked to users.
Users will be able to easily transfer funds from the app.
Users will have to write down a 24-word secret key, as is the standard for most cryptocurrencies.
Users will also have QR address built in as a functionality.
All things considered; GRAM's wallet seems to be a standard crypto-wallet with the one benefit that it is built into Telegram. One can hope that GRAM will have additional security features to keep users secure. Storing cryptocurrencies on a mobile phone is considered not very secure and can be prone to hacking and/or losing the phone in question.
What is more interesting is to see if TON will be able to deliver a truly revolutionary cryptocurrency and blockchain. With its release due by the end of October, I guess we'll find out soon.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado