News

Telegram’s Toncoin purchase started on Unocoin

Published

7 months ago

on

July 13, 2022

By

Megha Gupta

Table of Contents

HIGHLIGHTS :

The founders of Telegram planned TON almost four years ago
The TON Foundation is responsible for managing it.Selling in the crypto market has reduced the prices of cryptocurrencies

The founders of Telegram planned TON almost four years ago

Toncoin, the native token of messaging app Telegram’s decentralized layer-1 blockchain ‘TON’, has been made available for purchase and exchange on the Indian crypto exchange Unocoin. TON was planned by the founders of Telegram about four years ago. This year the TON main net was launched. The TON Foundation is responsible for managing it.

Telegram users can send Toncoin directly within chats in this app, but before that users have to add Telegram’s wallet bot to their attachments menu. Unocoin said in a statement, “Toncoin is different from other layer-1 blockchains due to a few features. It meets a number of transaction requirements. With this available, we are expecting faster transactions that will allow the exchange The number of users can also increase. Recently, the TON Foundation raised nearly one billion dollars through donations to support development efforts.

The TON Foundation is responsible for managing it.

Telegram had to close its cryptocurrency business nearly three years ago following a dispute with the US Securities and Exchange Commission (SEC). This included his native token ‘Gram’. Telegram CEO Pavel Durov and his brother Nikolai initially developed the project as the Telegram Open Network (TON). After Telegram left this project, a group of developers continued to work on it and they later introduced Gram as Toncoin. Unocoin is the only Indian crypto exchange to make Toncoin available on its platform.

Selling in the crypto market has reduced the prices of cryptocurrencies

The trading volume of crypto exchanges has come down significantly after the central government imposed a TDS of one percent on crypto transactions earlier this month. Over the past few months, the price of many cryptocurrencies, including bitcoin, has come down significantly due to the selloff in the crypto market. This has also affected the financial position of the firms belonging to the crypto segment. Bitcoin, the largest cryptocurrency by market capitalization, touched a high of around $69,000 in November last year. Its price has come down to around $20,400.

This newly listed coin on Unocoin boasts speedy transactions,

low costs, user-friendly interfaces, and environmental friendliness. TON can be scaled, shared, and equipped to adapt to market requirements. The architecture enables it to expand without suffering any significant performance loss. It solves various exchange needs and is used for transaction fees, network development, blockchain security through staking, and payment settlement. Its mainnet is fully operational and supports economical, swift, and environmentally friendly transactions.

How to buy Toncoin in India?

As of now, Unocoin is the only crypto exchange in India to list Toncoin on its platform. The Toncoin can be traded at Unocoin either on iOS, Android, or web versions. A trader must download the application/visit the website, create a free account, complete the KYC process, and be a verified Unocoin user.

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Megha Gupta

Megha Gupta is one of the leading writers of techzimo.com. She is working on Tech Zimo for the last 4 years, Apart from a writing job, she is a professional lecturer in a technology university, Know more about her here on Facebook.