TON should be ready on October 31st, according to an e-mail its investors received. Otherwise, the contract would be canceled.
Telegram Open Network (TON), the blockchain platform of Telegram, is close to its launch date, which is scheduled for October 31st. Recently, the company gave the news to its investors via mail and also mentioned it in a channel of the messaging application.
The Chief Technical Officer (CTO) of TON Labs, Mitja Goroshevsky, confirmed that the mail is real. Goroshevsky commented that the investors received emails from the central Telegram team with news about how the plan is going.
In addition, the CTO indicated that investors must provide their keys to Telegram before October 16th through a key generator. This way, they can receive the tokens called “Grams” that they bought.
TON Labs is a tool to create startups. The platform is aimed to Telegram Open Network developers.
Telegram Will Not Execute the Network
In the message sent through the Telegram channel related to this project, it was stressed that Telegram will refrain from executing or governing the network it created.
“Investors have to select validators. Telegram and the TON Foundation will not serve as validators after launch”.
It is important to remember that, in early September, TON released its code. This allowed the community to test complete nodes, validation nodes and a block explorer.
Until now, everything is almost ready to meet the deadline for the launch of TON, although previously this date was postponed.
The first release date was scheduled for September 1st, but it was delayed and the reasons were not very clear for the entire community.
Last February, the company announced it would delay the project. In March, Telegram told to its investors that TON was 90% prepared, but that the delays were due to the “innovative nature of development”.
Unfortunately, this decision caused some stakeholders to feel distrust, especially investors, who hope to acquire their Grams. Therefore, some of these investors tried to sell their tokens. However, if they had sold their Grams, they could be sued for canceling their purchase contract.
Now, thanks to the email that informs how everything is going, investors can feel more confident about their investments. The decision to send this email, which ensures that everything is ready by October 31st, was right and is something positive for the members of this crypto community.
The blockchain of Telegram has been built almost entirely in secret. There is not much information about this construction process. One of the best known data was that at the beginning of 2018, 1.7 billion dollars were raised to boost the initiative. This is one of the few things that is known.
Launching the platform before October 31st will also be essential to avoid canceling the contracts since, if this date expires, the contracts would be considered without effect.
Thus, TON will comply the expected date for its launch, at the end of October, and after overcoming moments of uncertainty.
By María Rodríguez