Telegram the most popular messaging app having 170 million active users with 0.5 million joining daily, is now aiming to gather 1.2 billion USD from its ICO – Telegram Open Network (TON). The global distributed network of Telegram delivers 70 billion messages daily. The biggest ICO of all time, Filecoin managed to accumulate 257 million USD in 2017, TON has set a target of 1.2 billion USD making it biggest ICO of all time. Although no official announcement about TON has been made by Telegram, the internet is bombarded with unofficial news about TON.
Although bitcoin and Ethereum rule the blockchain industry of transactions and building apps, they both along with many 1st and 2nd generation blockchains share the common problem of slow transaction rates.
TON will be a third generation blockchain that will allow peer-to-peer transfer of funds between users and to make purchases. TON will use direct payment channels to transfer payments instantly, it will be faster than visa and master card.
Some design features and services of TON as covered in its unofficial whitepaper are.