Telegrams with 900 million users will be able to conduct peer-to-peer interactions smoothly when the messaging application combines mini-applications and Tether (USDT) into its services. Many users will interact with crypto for the first time and don't even notice it.
Developers will also benefit as they launch e-commerce, paid content, games, and other business activities on the layer-1 blockchain The Open Network (TON) more smoothly thanks to the stablecoin, said TON Foundation investment director Justin Hyun at the Token2049 conference in Dubai. Telegram also continues to launch its TON-based wallet.
The launch of Tether in TON really opens up the creator's economy that has already occurred in TON and Telegram because users no longer need to go through obstacles to getting different types of crypto or tokens, Hyun said. "The most interesting use cases are those involved in the viral social mechanism. So there are games created every day supported through Telegram mini-applications."
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Those products will be available without having to download outside apps. The advantage of that is clear. Hyun provides an example of the Catizen game. When developers switched to TONS from other blockchains, they got 2 million users in two months, compared to 600,000 in the previous year and a half.
Other media socials are heavily divided regionally. "We've seen the emergence of super apps that can't break the barrier," Hyun said, pointing to WeChat in China, Line in Japan, and KakaoTalk in South Korea. The global range of TONS and the original USDT eliminates the need for a local payment gateway. Tether also allows Telegram to avoid payment restrictions imposed by Google and Apple.
TON is returning to its original vision thwarted by the Open Network's inability to make an initial coin offering in 2020 due to refusal by the United States Securities and Exchange Commission, Hyun said. The TON Foundation was formed in 2021 by open source developers who took over the project.
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