Encrypted messaging service Telegram will purportedly launch its Telegram Open Network (TON) in the third quarter of 2019, according to crypto information website The Block.

An inside memo despatched to traders reportedly stated that the community would launch later this 12 months. Telegram purportedly stated latest profitable take a look at course of “reaffirms our perception that the TON digital machine and the TON … Byzantine consensus algorithm are able to assembly the objectives said in the unique white paper.”

In April, Cointelegraph reported that Telegram opened entry to a personal testing model of the TON blockchain to a choose variety of builders. Anonymous take a look at builders stated the blockchain demonstrated “extraordinarily excessive transaction pace.”

The TON community will supposedly host decentralized purposes, comparable to the Ethereum community.

In February, an obvious purchase agreement for Telegram’s Gram tokens — the TON community’s native digital foreign money — said that such contracts shall be rendered null and void if the community doesn’t launch by October 31, 2019.

Telegram was founded by the brothers Nikolai and Pavel Durov in 2013. The agency raised virtually $1.7 billion in two personal initial coin offering rounds final 12 months. The platform boasts over 200 million customers.

Last month, TON’s improvement group has partnered with German monetary companies supplier Wirecard. TON Labs will work with Wirecard to develop digital monetary merchandise.

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