TON Really Depends On Telegram, What's The Future Without Pavel Durov?

TON relies heavily on Telegram (Photo; Doc. The Currency Analytics)

JAKARTA - In the past year, the blockchain TON network (The Open Network) has experienced tremendous development. The success of blockchain-based games such as Hamster Kombat and its token value increase, Toncoin, which has doubled since January 2024, are the main drivers. In fact, Toncoin is now in the top 10 crypto assets by market cap, surpassing Bitcoin and Ether in performance this year. However, behind these successes, TON faces major challenges related to its entanglement with Telegram's instant messaging application, especially after the arrest of Telegram founder Pavel Durov. This incident raises the question: can TON survive if forced to separate from Telegram?

TON is deeply connected to Telegram, both in terms of technology and its user base. The latest research report from Bitget, which is also one of the TON strategic investors worth 30 million US Dollars (Rp453 billion), states that the development of TON relies heavily on Telegram user traffic. This is considered a big risk, especially as Telegram itself is under intense scrutiny from regulatory authorities following Durov's arrest.

One of the main problems faced is Telegram's Wallet app, which allows users to send and receive cryptocurrencies such as Toncoin. The app has been temporarily suspended in the UK because it has not received approval from the Financial Conduct Authority (FCA). This situation further strengthens the uncertainty of the future of TONS, especially in the global market.

The Bitget report suggests the possibility of de-Telegramization is an attempt to separate TON from Telegram as a way to reduce the regulatory risk faced. However, this step is not without risk. By separating from Telegram, TON has the potential to lose a large user base which has been one of the main powers of this network.

Quoted from Crypto News, Ron Millow, a blockchain entrepreneur who was previously involved in the Free TON project, criticized the current development of TON. According to him, DeFi infrastructure (decentralized finance) in TON is very weak, and entanglement with Telegram actually hinders decentralization, which should be the main goal of this project.

They are tightly bound. No marketing or rebranding effort can change this reality. The only solution is the reunification of the Toncoin team with Everscale under a new flag, "said Millow.