In spite of slump in the values of cryptocurrencies, many companies are planning to launch their own cryptocurrencies. The latest development in the field is possible launch of ‘Gram’. It is a cryptocurrency from messaging giant Telegram. The latest crypto news reveals that the company will launch ‘Gram’ in March. The new cryptocurrency will debut in Japan. ‘The Bell’ reports that a meeting of the major investors in the cryptocurrency will take place within four weeks. The company will show the working of TON blockchain technology in this meeting. It is, therefore, important to mention that ‘The Bell’ is a Russian language media outlet. It is familiar with the founders of the ‘Gram’.
Last week, Telegram CEO said that 2019 is very important in the history of Telegram. He told media that the company had raised $1.7 billion last year for ‘Gram’ and ‘TON’ platforms. As a result. It will prove one of the major blockchain ecosystem projects in the history of the crypto world.
A company newsletter states that it has already completed 90% of the work on TON blockchain. Consequently. they hope to complete the work by March 2019. Yet, it may get two or three months late. Because, our experts are taking time to make the project innovative. Here, it is pertinent to mention that the company had completed the 70% work in September 2018. This means that the project had passed the testing stage in last September.
One of the most attractive features of this project is its scalability. Therefore, every company is trying its best to deal with this challenging issue in their blockchains. Telegram has developed a new blockchain. It has a power to process millions of transactions in a second. The company has used the techniques of ‘Infinite sharding’ and ‘hypercube routing’ to achieve this goal.
None of the cryptocurrency companies have employed the techniques due to their complexity. Telegram has used these techniques to meet the needs of its users. It is surprising that it has 200 million active users around the world. This is why the experts are hopeful for the success of the cryptocurrency ‘Gram’.
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Here, it is worth-mentioning that Russian government has shown flexibility in crypto trading. The government is working on a draft bill about cryptocurrencies. It will allow the selected companies to use cryptocurrencies. These companies will use cryptocurrencies in inter-business settlements. The authorities of Tatarstan and Kaliningrad regions are already supporting the bill. Therefore, they are hopeful to use cryptocurrencies soon in settlement of various business transactions.
The Russian parliament will discuss many cryptocurrency draft bills by this spring. Earlier this month, we have heard many politicians supporting the cryptocurrencies. Even the Prime Minister has urged people not to bury cryptocurrencies. One of them even says that cryptocurrencies will one day replace US dollar.
Here, it is interesting to mention that Russia is already facing international sanctions. This is because of the country’s interference in Eastern Ukraine in 2014. Last year, a senior Russian politician spoke against new international economic sanctions. He gave a hint to allow the traders to use cryptocurrencies.
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