Home Ethereum Is Telegram’s Cryptocurrency the Long-Awaited Ethereum Killer?

Is Telegram’s Cryptocurrency the Long-Awaited Ethereum Killer?

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With simply over a month left till the TON blockchain formally launches, Telegram’s debut cryptocurrency undertaking is shaping as much as be one in all Ethereum’s largest threats thus far.

Numerous would-be assassins have lined as much as shut out the contract on the world’s largest blockchain platform in recent times – all with little success.

But with Ethereum compatibility already in superior testing on TON, might Telegram’s 300 million-strong userbase show a extra attractive draw for blockchain builders?

Telegram Takes Aim at the Second-Biggest Dog in the Yard

Telegram’s blockchain will possible be in comparison with Bitcoin, nevertheless it’s a far larger menace to Ethereum. | Source: Shutterstock

The whitepaper for the Telegram Open Network (TON) wastes no time in declaring its intentions to muscle in on Ethereum’s turf.

From the introduction (emphasis added):

“We goal for [TON] to have the ability to host all cheap functions at the moment proposed and conceived. One would possibly take into consideration TON as an enormous distributed supercomputer, or moderately an enormous superserver.”

Similar language peppers the whitepapers of hundreds of blockchain initiatives, notably these aiming to host functions and run sensible contracts. TON goals to do each, and its soon-to-be-released Solidity compiler means these apps and contracts might be interoperable with Ethereum.

Yet even compatibility with Ethereum has develop into a typical function of main blockchain platforms in recent times, so what can Telegram supply that others can’t?

The whitepaper claims TON will be capable of deal with “millions of transactions per second.” It goals to do that by utilizing a “blockchain of blockchains.”

Up entrance is a masterchain, accompanied by a sequence of workchains which is able to quantity not more than 4,294,967,296. These workchains are then divided up into 1,152,921,504,606,847,000 shardchains – all of this in an try to offer the scalability wanted to serve Telegram’s customers.

Is TON the Ethereum Killer We’ve Been Waiting For?

Numerous blockchains have sought to be the “Ethereum Killer.” Will Telegram succeed? | Source: Shutterstock

Ethereum is already the most extremely developed blockchain undertaking in existence. The variety of builders contributing to the Ethereum ecosystem exceeds that of Bitcoin 4 instances over.

And it’s not simply the variety of builders that issues, but additionally why they’re there. Ethereum threatens to develop into a decentralized, authority-less model of the web. Would its builders actually be so keen to leap ship to a Telegram providing, no matter its userbase measurement?

Ethereum has plans to scale utilizing its personal sharding know-how in the coming 12 months, at which level the battle-lines should be drawn once more.

Last modified: January 10, 2020 3:16 PM UTC

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