TON Is Scheduled to Launch Before the End of October

The Telegram Open Network (TON) is on its way to a planned launch, according to a newsletter from a company received by TON investors on Wednesday. The authenticity of the mailing was confirmed by the technical director of TON Labs Mitya GOROSHEVSKY, reports CoinDesk.

Goroshevsky also noted that TON Labs “will run and manage its own validation pool.” The code for TON was released in early September, which allowed the community to try out full nodes, validator nodes, and a block explorer.

A message was also posted on the Telegram channel stating that the initial investors received emails from the Telegram team. Investors must provide Telegram with their public keys by October 16, using the key generator to receive the GRAM tokens they purchased.

It is noteworthy that the message also mentions management issues, which say that Telegram itself will not run the network:

“Investors have to select validators. Neither Telegram nor the TON Foundation will serve as validators post-launch.”

The project is scheduled to be launched no later than October 31, according to existing agreements with TON investors. The blockchain, which raised $ .7 billion at the beginning of 2018, was developed in almost complete secrecy. Telegram CEO Pavel DUROV never publicly announced the existence of TON. So far, the only official confirmation has been the registration by the US Securities and Exchange Commission (SEC) of a simple agreement for future tokens (SAFT).

Image courtesy of the Next Web