Telegram, a cloud-based messaging service, has announced ambitions to concentrate on decentralization, which is crucial to the cryptocurrency industry. The new products are designed to give people more control over decentralization.
According to CEO Pavel Durov, the messaging service has sold $50 million worth of usernames in less than a month using its blockchain-based auction platform, Fragment.
The statistic illustrates how well Telegram did on its second attempt to build its crypto infrastructure. The Telegram Open Network (TON), a blockchain that the CEO, Durov, abandoned in 2020 due to regulatory pressure and subsequently returned to because its community kept it alive, is the foundation on which Fragment is constructed.
For many users throughout the world, Telegram is a free chat app that offers several benefits in terms of privacy, security, and usability.
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