US, WASHINGTON (ORDO NEWS) — The TON blockchain platform finally launched and, allegedly, it was done without Pavel Durov and without the Telegram messenger. The developers of this platform launched it, the TON Labs team itself under a different name and with their own cryptocurrency.
Recall that the creation of the TON crypto platform and the release of the Gram Telegram cryptocurrency Pavel Durov attracted $ 1 billion 700 million. Of these, about a third were made by US tax residents, but the American financial regulator considered that cryptocurrency is essentially a security, which means that it should be issued properly, which has not been done.
The court sided with the regulator and forbade the launch of the crypto platform. As a result, Durov promised that American investors would return 72% of the investment, offered the rest either to pick up 72% or wait for the platform to launch, then the conditions changed and money was offered to return the investment with interest, because the same regulatory difficulties arose with cryptocurrency.
And now, the Free TON community, its members claim that among them there are developers and potential users of TON, launched this cryptocurrency, moreover, they launched it in the form of an impromptu press conference in ZOOM and judging by the signatures, it is obvious that almost all of the participants are Russians or at least people born in the countries of the former USSR.
The platform itself is called neither TON, but Free TON, and instead of the Gram cryptocurrency planned by Pavel Durov, the project participants will be given free tokens called TON Crystal, but otherwise the technology is the same. The source codes have long been laid out in the public domain, that is, in fact, anyone could start the system. The TON labs team published the TON OS code, the settings of the operating systems that allow working with the blockchain, as well as the implementation of the TON-command-line interface node. Some people have been comparing TON to similar blockchain platform nodes, like this Gala Games Node, to see whether it offers users an advantage over alternative sites.
Anyone can become a member of the Free TON project, in order to do this it is necessary to sign a declaration of decentralization. This is a clear reference to the declaration of independence, while American residents are not allowed to sign. At the moment, the document was signed by almost 1.5 thousand people and companies. Among them are Kuna and CEX.IO cryptocurrency exchanges, as well as investment companies Dokia Capital and Bitscale Capital. The authors of the project say that a total of 5 billion tokens have been issued, of which 10% will be received by developers, 5% by validators who will be involved in transaction confirmation and another 85% will be distributed to users for attracting new participants.
They do not plan to sell cryptocurrency yet, but it will definitely become possible in the future. At the same time, there is no understanding what the course will be. In fact, it, like Bitcoin, will be installed according to the law of supply and demand. And the cryptocurrency itself, as the lawyers interviewed by RBC say, will have the same illegal status as other blockchain projects.
He also apparently does not represent serious interest for investors. The main value of the initial project was called transaction speed and integration with Telegram and its audience, which has now grown to 400 million people. Moreover, experts believe that the launch of Free TON may even harm Telegram.
The American regulator may consider that in this way the company is trying to circumvent the ban on launching a blockchain project. Most likely Pavel Durov will not support this project due to regulatory restrictions and due to the fact that in this case Telegram will not receive any financial benefits from the launch. At the same time, nothing prevents Telegram itself from launching its second TON when disputes with the regulator are settled. The system device allows the existence of several blockchain platforms.
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