Messaging service Telegram has grown at an exponential rate since its 2013 launch. The firm is also responsible for concluding one of the most successful Initial Coin Offerings (ICO’s) of all time, raising $1.7 Billion in March of 2018.
Purportedly the ICO was conducted so the firm could begin the development of the TON network with which internal payments and decentralized applications (DApps) would be a feature. It has recently come to light that the official launch might be closer than anticipated.
Telegram Open Network (TON), the Telegram messaging app’s blockchain project is now expected to launch Sept 1 with the release of the TON node.
There has been a high degree of secrecy form the Telegram team since their announcements last year, but information has been leaked by individuals close to the project and involved with TON labs.
TON Labs is the tech start-up founded by Telegram’s token sale investors in order to build developer tools for Telegram. It is from this community that the leak derived as they have been most vocal about continued developments.
At present there has only been 1 been operational node that is run by Telegram itself through its testnet. With the impending code release other users will have the ability to run their own codes. Mainnet launch is expected by Oct 31, which coincidentally is the deadline date by which Telegram must deliver against ICO regulations. If the project isn’t launched by this point, a large proportion of the $1.7 Billion will need to be refunded to its initial investors.
With the upcoming code release, a broader range of users will be able to run their own nodes. Users can only run nodes on testnet, with a mainnet launch expected for Oct. 31, according to the purchase agreement for Telegram’s 2018 token sale.