News portal The Block got access to the documents related to Pavel Durov’s Telegram Open Network (TON) project. The documents confirm the rumors about its current “70% ready” status. According to the outlet, TON Virtual Machine is already complete, whereas TON p2p Network is nearing completion. At the same time, the block generation and validation mechanism remains the most underdeveloped part of the project.
The said information corresponds well with the contents of the letter on the matter which surfaced in the web last month.
Block quoted the main project status updates:
• The component needed for the execution of its smart contracts – TON Virtual Machine – is “fully implemented and internally tested”. But there will likely be some modifications as it is connected to other aspects of the network’s tech
• Many aspects of the TON Network – the component of the project that is required to make transaction requests – is near completion, according to the document.
• The part that’s furthest away from completion is the software for block generation and validation. Its validator software, specifically, is only 10% complete.
In order to build TON, Telegram managed to raise $1.7 billion during two private rounds of ICO. Late in July, the company presented its first TON-related product, namely, Telegram Passport, which is essentially an encrypted repository for the users’ personal data of all sorts. This was followed by Virgil Security cybersecurity startup detecting numerous vulnerabilities in the Telegram Passport’s source code and thus provoking much skepticism among the experts concerning the quality of future TON products.
As reported recently, TON blockchain platform will also feature an in-built “advertising exchange” designed for automation of advertisements in Telegram channels.