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Telegram Adds Cryptocurrency Toncoin to Messaging App
Summary: Telegram, an instant messaging service, took more steps toward cryptocurrency integration by allowing their 550 million users to send and receive Toncoin (TON) through their messaging app, according to a tweet on Tuesday. Users are already able to use a bot to buy Bitcoin within the app, and now they will be able to send ...
Telegram, an instant messaging service, took more steps toward cryptocurrency integration by allowing their 550 million users to send and receive Toncoin (TON) through their messaging app, according to a tweet on Tuesday.
Users are already able to use a bot to buy Bitcoin within the app, and now they will be able to send and receive Toncoin without transaction fees. While only Toncoin is currently supported on the app, it could open the way for other cryptocurrencies to be traded at no cost.
The idea behind the service is to make sending and receiving cryptocurrency to feel like sending and receiving text messages.
TON is a multi-chain project with generalized support of all transactions.TON uses a proof-of-stake algorithm and hosts around 461,000 wallets on the network. It is currently valued at $2.32 per coin, which is up 2.43% in the last 24 hours according to Bitpush Terminal data. It currently has a market cap of $2.8 billion.
Twitter offers a similar facility, having recently added Bitcoin payments over the Lightning Network in September of last year. In addition, payment giant, Stripe, said it will use Polygon to enable customers to pay in cryptocurrency, with Twitter being the first company to try it out.
Author: Tyler Irvin
