The Open Network (TON) foundation has announced that users will now be able to send crypto payments on its Telegram two years after the platform abandoned its blockchain effort.
According to The Verge, Telegram shut down its cryptocurrency operation after it had received unbearable pressure from the United States’ Securities and Exchange Commission (SEC).
TON announced in a Twitter post that Telegram now supports Toncoin transactions with no fees attached.
You can now send #Toncoin directly within Telegram chats!
It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.
Watch the video and test the new feature! pic.twitter.com/EtXSMFtJj6
— TON (@ton_blockchain) April 26, 2022
TON is a project that was developed by Telegram CEO Pavel Durov and his brother Nikolai in 2018. A year after the project was launched the SEC ordered Telegram to halt its sales of Gram, the token linked to the TON blockchain, claiming that it had failed to register the $1.7-billion in sales collected as part of its pre-Initial Coin Offering (ICO). Telegram, however, abandoned the TON foundation in 2020.
After the WhatsApp competitor dropped its previous blockchain operation it managed to bring forth a new one and rebranded it from Gram to Toncoin.
“I’m proud that the technology we created is alive and evolving… TON is still years ahead of everything else in the blockchain realm,” Durov said last December, according to The Verge.
The TON project also managed to raise $1-billion in donations earlier in April.
Other Payment Options Available on Telegram
Currently, Telegram allows merchants to create bots that enable their customers to checkout on the platform. Merchant bots can send specially formatted invoice messages to users, groups, or channels, according to Techweez.
The app can send invoice messages that feature a “Pay” button, along with a picture and description of the product that you are paying for. Tapping on the button opens a special payment interface within the app. The interface allows users to choose a tip amount (if allowed by the merchant) and enter additional details like shipping info, phone number, or email address.
By Zintle Nkohla
Follow Zintle Nkohla on Twitter
Follow IT News Africa on Twitter