Pantera Capital Invests In TON Blockchain, Expresses Confidence In Telegram’s Potential To Broaden Crypto Accessibility
In Brief
Pantera Capital invested in TON blockchain, however, the exact amount of the investment remains undisclosed.
Crypto-focused venture capital firm Pantera Capital announced its investment in The Open Network (TON) blockchain, a Layer 1 network. The exact amount of the investment remains undisclosed at this time.
The venture capital firm expressed confidence in TON’s potential to bring cryptocurrency to a wider audience, citing its extensive usage within the Telegram network. Pantera Capital also believes that by harnessing Telegram’s large user base and user-friendly interface alongside the growing ecosystem of TON, the network has the opportunity to become one of the leading cryptocurrency networks, according to the blog article.
Telegram is recognized as a prominent messaging application due to its alignment with many principles of the cryptocurrency ethos and its widespread user base. The platform boasts over 900 million monthly active users and records more than 1 trillion monthly channel views.
TON is a blockchain project launched by Telegram, aiming to utilize the messaging platform’s user base to establish a decentralized network capable of accommodating various applications. TON comprises several components, such as TON Blockchain, TON Storage, TON DNS, and TON Services, all interconnected to operate seamlessly.
TON is engineered to deliver high performance and scalability, enabling rapid transaction processing through its dynamic sharding system. This design guarantees that the network can manage millions of transactions per second and expands effectively with increasing user demands, offering developers the opportunity to deploy applications serving hundreds of millions of users without sacrificing speed or security.
TON’s expanding ecosystem leverages Telegram’s inventive structure and extensive user network. Every month, more than 360 million users interact with what Telegram calls “Mini apps,” which encompass chatbots and mini-games. With TON, integrating cryptocurrency into these “Mini Apps” will notably elevate the user experience for these vast numbers of users. Additionally, Telegram streamlines the process for users to enter the cryptocurrency realm with its wallet, which enables users to effortlessly link to mini-apps for purchasing, selling, or managing tokens and NFTs.
TON Surges In Popularity, Secures 9th Position Among Largest Cryptocurrencies
Established in 2003, Pantera Capital stands as one of the prominent and highly engaged crypto-focused venture capital companies globally. To date, the firm has made investments in over 180 startups in the cryptocurrency sector.
Pantera Capital’s decision to invest in TON coincides with the rising prominence of the blockchain. In February, Telegram announced a strategy to distribute advertising revenue among channel owners and provide rewards through the TON token. This plan has since been put into action, enabling users to buy in-platform advertisements using TON.
Recently, TON has surged in popularity, securing its position as the 9th largest cryptocurrency with a market capitalization of $17.6 billion, as reported by CoinMarketCap. At the time of publication, one TON is valued at approximately $5.09, reflecting a 9.6% increase.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
