Report: TON and Telegram Forge Alliance in Q3 2023
Rebeca Moen Oct 12, 2023 09:02
The TON Ecosystem saw substantial growth and strategic alliances in Q3 2023. Notable highlights include a collaborative venture with Telegram, set to roll out the self-custodial wallet, TON Space, to Telegram's 800 million users, and a steady increase in TON accounts and on-chain active wallets. Various community initiatives and developer-centric events further illustrated TON's commitment to fostering a robust ecosystem, setting a solid foundation for its expansive vision in the crypto landscape.
According to Report, the Open Network (TON) Ecosystem witnessed a momentous Q3 2023, marked by extensive user engagement, product launches, and a remarkable alliance with Telegram. The quarter's highlights reflect a vibrant growth trajectory for TON, encapsulating a range of metrics and strategic moves.
The recently introduced TON Stat highlighted a steady growth in TON accounts which now tally over 3.5 million. Daily transactions, although slightly fluctuating, demonstrate a consistent pace. The report indicated a surge in on-chain active wallets, nearing 815 thousand with an average daily increase of 1,392 wallets. These metrics underscore an expanding user base engaging with the TON blockchain.
A significant highlight of Q3 came on September 13 at the TOKEN2049 conference in Singapore, where Telegram and the TON Community divulged plans for a collaborative venture. This alliance is poised to unveil a new self-custodial wallet, TON Space, to Telegram's 800 million monthly users starting November. The long-term vision includes enticing 30% of Telegram's user base towards TON in the next 3-5 years, a move anticipated to not only boost Toncoin's standing but also cultivate a TON-centric Web3 ecosystem within Telegram.
TON Space, an integral part of this alliance, is designed as a self-custodial software wallet integrated into Telegram's @wallet feature. This initiative aligns with TON's goal of democratizing crypto access, facilitating secure and straightforward asset management for users directly within the Telegram app. Another noteworthy update is the unveiling of Wallet Pay, a novel crypto payment service for e-commerce transactions within the Telegram interface, furthering the ease of crypto transactions for users.
The quarter also saw a strategic partnership between Tencent Cloud and TON Foundation, aiming to bolster support for developers in Asia. On the community front, the believers.ton initiative garnered substantial support, accumulating over 500 million Toncoin secured in a dedicated smart contract, which signifies a community-driven approach towards enhancing the network's stability and transparency.
On the technical front, the integration of Blueprint and IntelliJ IDEA marked a significant move towards facilitating TON smart contract development. The quarter also featured developer contests and the announcement of The Gateway, TON's inaugural in-person conference scheduled for November 10-11, 2023, in Dubai, unveiling a platform for networking and showcasing TON-based projects.
The numerous advancements and strategic maneuvers in Q3 2023 underscore TON's progressive journey towards expanding its ecosystem and user base. The alliance with Telegram, along with continuous innovation in wallet services and community initiatives, propels TON closer to its vision of widespread crypto adoption.
Image source: Shutterstock