blockchainreporter.net
The Open Network, a web3 platform operating under Telegram, has recently announced its latest collaboration. As per the company, it has joined forces with Pantera Capital, an institutional asset management company in the US. On its official account on the social media platform X, TON expressed a huge interest in this development.
💎 Breaking news! 💎@PanteraCapital has joined TON Ecosystem! Becoming a validator for TON and apparently that wasn’t all!
— TON 💎 (@ton_blockchain) May 3, 2024
It’s another sign of growing support from major institutions in the space.
The TON community’s vision to put crypto in every pocket by building a Web3… pic.twitter.com/CPlstmC92e
TON Welcomes Pantera Capital As a New Investment Partner
In its X post, the company mentioned that this endeavor indicates the increasing support from prominent entities. In addition to this, it added that this move also highlights the vision of the platform’s community. According to it, they intend to make the Web3 ecosystem accessible to everyone. On the other hand, Pantera Capital also disclosed this development on its official X account.
The firm brought to the front the news of its investment in the Telegram L1 blockchain TON. Apart from that, it revealed its confidence in the further progress of TON. It mentioned that the blockchain platform would potentially ignite the upcoming wave of huge crypto adoption. In the words of Pantera Capital, TON is capable of unveiling cryptocurrency to the common masses. The reason behind this is the extensive crypto usage within the network of Telegram.
Telegram possesses more than 900M active consumers per month on its cutting-edge, secure, and rapid messaging forum. Telegram’s messaging platform offers group communications, content sharing, community building, and so on. TON benefits from the broad consumer base and matchless user experience of Telegram. In this way, it can reportedly occupy a significant place among the biggest crypto networks.
The Platform Leverages the Vast User Base of Telegram to Develop a Decentralized Network
At present Telegram stands among the world’s top messengers. In this respect, it embodies the majority of the crypto’s code. Telegram regularly outperforms the closest alternative called “Signal” by ten times the cumulative monthly downloads. According to the reports, they generated more than 36.7M in January 2024.
The blockchain initiative of TON leverages the extensive consumer base of the messaging app Telegram to develop a decentralized network. The respective network would potentially be able to support a vast series of applications. The multi-component ecosystem of TON takes into account TON Services, TON DNS, TON Storage, and TON Blockchain. All of these things work together in a matchless manner.