Secrets of Telegram’s Blockchain revealed as project reaches Beta development

Secrets of Telegrams Blockchain revealed as project reaches Beta development

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According to recent reports, Button published a blog post explaining how the recently launched Button Wallet on Telegram’s new blockchain, Telegram Open Network (TON) really works.

Telegram is one of the most significant ICOs in history, with almost two billion dollars raised. If its tokens retain anywhere near their initial value, Gram is likely to debut near the top of the market capitalization rankings.

According to Button Wallet, TON does a tremendous job in code writing. Furthermore, TON has been planning to measure transactions between the users using sharding. Shard is a blockchain that allows connection with other shard and shardchains which can interconnect with each other via Hypercube routing. TON will have a masterchain and shardchain. To give its users a fast experience, Telegram plans of using shardchain for its three hundred million users.

In the Telegram Open Network, there are mainly four roles: Validators, collectors, nominators, and fisherman. The most fascinating is the role of a fisherman; which gets to catch the invalid transaction which was published by the validator previously. If the validator’s quorum decides that invalid transaction was made, then the validator is penalized while the fisherman is remunerated. This feature is designed to encourage the validators only to publish transactions that are valid.

The Buttons team revealed that although efforts are being made to develop TON yet, it is a complicated process due to lack of documentation.

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Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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