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Telegram has recently achieved a significant milestone by reaching 900 million users. This surge in user numbers has had a direct impact on Telegram Open Network (TON), which has seen impressive 17% growth in the past three days alone. TON, a blockchain designed to integrate seamlessly with Telegram’s vast user base, benefits directly from the platform’s expanding reach and its aggressive push for cryptocurrency adoption.
TON’s integration within Telegram allows users to perform transactions directly through the app, leveraging Telegram's native wallet. This feature enables seamless transactions on TON’s blockchain network, which is particularly attractive because it offers cheap transactions within the network and fee-free transfers for USDT. This zero-fee structure is a major draw for users who are looking to perform frequent transfers without the burden of high transaction fees.
However, the integration of a wallet within a messaging app raises substantial security concerns. Critics argue that while the wallet offers convenience for day-to-day transactions, it might not provide the level of security required for storing large amounts of assets safely. For users concerned about security, traditional hardware wallets remain the recommended option due to their robust security features.
Despite these concerns, the Telegram ecosystem presents a unique value proposition. It hosts a variety of apps and bots that allow users to interact with their wallets in innovative ways. For instance, users can engage in "farming" — using TON or other tokens to participate in decentralized finance (DeFi) activities directly through Telegram. This functionality not only enhances user engagement but also fosters a more integrated use of cryptocurrencies in everyday applications.
The blockchain's growth is closely tied to Telegram’s user base, and as the app pushes further into the crypto space, TON could see even greater adoption and utility. This growth, however, must be balanced with considerations of regulatory compliance and security — factors that will determine TON’s long-term viability in the competitive world of cryptocurrency.