Telegram, a cloud-based instant messaging and voice over IP service is planning to launch its token and mainnet in the month of March 2019. According to CoinTelegraph report, a nameless source has said that the messaging platform is seeming to get its blockchain-based network and token for Telegram Open Network (TON) platform. The news was disclosed by a source close to Telegram founder and CEO Pavel Durov today on Jan. 23.
What is Mainnet?
A mainnet is a blockchain circuitry that carries a digital currency from a sender to a beneficiary. It is the real network where genuine transactions take place on a distributed record. Mainnet is the production place while testnet is for expansion.
While it might be perfect that all outlines already have a mainnet delivered at the time of ICO, this is seldom the state. In fact, a lot of schemes don’t even have a testnet developed during the ICO time. In phases of fundraising, many blockchain projects have been ready to raise adequate funds based on possible instances, technical ideas, and other constituents like the crew behind the project and organizations. Oftentimes, companies utilize a lot of the capitals from their ICOs towards developing the testnet and mainnet variants of their designs.
TON is 90 percent ready
According to a report from Russian business media The Bell, Durov’s crew has told investors that TON is 90 percent ready, but that impediments are conceivable, due to the “innovative nature of the development.”
The earlier declared project, Telegram Open Network (TON) has raised nearly $1.7 billion last year in two cycles of individual initial coin offering (ICO) funding. Notwithstanding the scorned aspect of ICOs, which by some stories has a fraudulence rate close to 80 percent, the Telegram ICO has been praised as a triumphant exercise of the design and one that gives a plan for other founded organizations to examine the scope.
The Bell further reported that the TON club is currently examining legal choices in more than 10 provinces, that may upset the launch and global development. Telegram, the company quite recognized for its secured messages, is actively running with crypto exchanges in Japan, China, and the UK. TON token is most expected to be propelled in Asia, and Japan may be the leading country where the Telegram’s cryptocurrency will open the market.
The launch dates of TON have been delayed more than once. Originally, the launch of the TON was projected for the second quarter of 2018. By the end of 2018, it was surmised. On January 17, Durov said that 2018 was an exceptional year for Telegram, but 2019 will be the most crucial year in the history of our company.” He pledged to “implement a lot of long-awaited changes to the product”, which Telegram’s users demanded, and eventually emphasized that “the 2019th will be the time when the wishes of our users regarding the (Telegram) functions will be fulfilled”.
The telegram has been straightforward about its intentions to build a blockchain and crypto-based platform. Following news last October that the project was nearing its announcement, Iran published a declaration against Telegram and corporations which would strive to support the app. The Iranian government has insisted that the project threatens national security, and has initiated an exercise to curb and ban the service dating back to April 2018.
How does a Mainnet Launch Affect Market?
Does a prosperous mainnet associate to higher rate costs of a presented cryptocurrency? Not certainly. It’s also essential to read the market circumstances as well. Primary mainnets launches aren’t the only significant breakthrough defining the benefit of a cryptocurrency project. Constant updates and alliances to the mainnet are also an important component of seeking to know the ever-changing price of any presented cryptocurrency.
Mainnets are necessary because they confirm or invalidate the capacity of a project to practice a blockchain project from idea to practice. While the primary idea of a mainnet doesn’t always provide a much acumen into a project’s overall development, it’s a fundamental technical character to count when investing in cryptocurrencies.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.