Telegram wants to launch a cryptocurrency, and it has several key ideas that could help it rival Bitcoin, Ethereum, and Ripple at the top of the market. “Gram,” the proposed name for the new token, would integrate with the encrypted messaging app to provide an easy way to send money privately and internationally.
The “Telegram Open Network” that powers the system will be a “third generation” blockchain network, building on the work of previous cryptocurrencies to provide something groundbreaking.
The 132-page white paper, detailed in a Monday report from TechCrunch, plans to use the messaging app’s 180 million users to kickstart a new cryptocurrency that will rapidly scale to meet the needs of users. The wallet could launch as soon as the fourth quarter of this year, with the “Telegram Open Network” open to users at the start of 2019.