Telegram publicly acknowledges involvement in TON blockchain

Cryptocurrency • October 8, 2019, 6:08PM EDT
Freepik

Messaging app Telegram has gone public with its involvement in the TON blockchain, mentioning both TON and GRAM in its terms of service (ToS) on its official website. 

"We have no control over the TON Blockchain network and therefore cannot ensure that any transaction details that you submit via the Services will be validated and confirmed on the TON Blockchain," the ToS reads. 

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Telegram also adds that the firm will "not have the ability to facilitate any cancellation or modification requests to transactions you have submitted."

Despite raising $1.7 billion in early 2018 to develop the TON blockchain and its associated GRAM token, Telegram has been publicly silent about its involvement in TON up until this point.

In August, The Block reported that Telegram was set to begin public tests of TON, releasing code for running a node on the blockchain.

About Author

Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi