Telegram now allows users to send Toncoin, the cryptocurrency built out of Telegram’s abandoned blockchain efforts, directly from chats within the messaging app (via the protocol). in one post on twitterTON (The Open Network), announced that Telegram now supports Toncoin transactions with no fees.
TON has attached a short video showing how crypto transactions work on the platform. To get started, you need to add Telegram’s wallet bot to your attachments menu, which allows you to “buy, exchange, and transfer cryptocurrency to other wallets with a bank card.”
You can now send #Toncoin directly in Telegram chats!
It’s a new way to send Toncoin to any Telegram user with no transaction fees. With this service, you no longer have to enter long wallet addresses and wait for confirmations.
Watch the video and test the new function! pic.twitter.com/EtXSMFtJj6
— TON (@ton_blockchain) April 26, 2022
When you’re ready to send crypto, during a chat, you can go to the wallet from your attachments menu, enter the amount of Toncoin you want to send, confirm all the details, and then click send. Your recipient will receive the Toncoin via the chat.
In 2020, Telegram shut down its own cryptocurrency operations after facing pressure from the Securities and Exchange Commission (SEC). The project, originally known as Telegram Open Network (TON), was developed in 2018 by Telegram CEO Pavel Durov and his brother Nikolai. A year later, the SEC ordered Telegram to halt sales of Gram, the token linked to the TON blockchain, after saying that it had sold the 1. $7 billion didn’t register.
Even after Telegram abandoned the TON project, a group of developers kept it afloat by renaming it The Open Network and renaming Gram Toncoin. Durov expressed his support for the project last December, noting, “I’m proud that the technology we’ve created is alive and evolving…TON is still years ahead of everyone else in the blockchain space.” Last month, the TON Foundation managed to raise $1 billion in donations.