Telegram’s Open Network is a distributed blockchain created by Telegram. It has now announced that Toncoin, a cryptocurrency payment method, will be available on its platform.

Through Telegram’s new official ‘Wallet Bot’, users will be able to purchase cryptocurrencies with a bank card, then exchange and transfer them to other wallets. You can also use the Wallet icon to send Toncoin. Transactions made with Toncoins won’t have any gas or commission fees.

After Telegram raised more than $1.7 million via a private token sales, the U.S. Securities and Exchange Commission brought legal action against the company. The SEC claimed that the tokens had not been registered. Telegram made an agreement to return $1.224million to its investors in June 2020.

During the legal battle, Telegram gave control of the ‘Telegram Open Network’ and Toincoin to The Open Network, an open code community dedicated to developing Toncoin and associated blockchain.

Users who wish to send Toncoin through the Bot Wallet (which over 800,000 accounts have used since its launch this week) will have to download Telegram’s latest version.

You can now send #Toncoin directly within Telegram chats!It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.Watch the video and test the new feature! pic.twitter.com/EtXSMFtJj6

— TON (@ton_blockchain) April 26, 2022

The Flipside

• Telegram is similar to Discord in that it allows you to make bots and automate your activities.

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