Just a few days ago we reported on the various payment options for investors in the project, which had been postponed several times before. Investors from the USA should be content with only 72% of the original investment. But now the long-running struggle with the US authorities has ended. The telegram co-founder Pavel Durov announced in an emotional message that the development of TON and the cryptocurrency GRAM will be discontinued.
TON wanted to revolutionize blockchain
The idea of TON (Telegram-Open-Network) was to take up the principles of Bitcoin and to develop them further. TON, in combination with the cryptocurrency GRAM, should be superior to Bitcoin and Ethereum in terms of speed and scalability. With the implementation of TON and Gram, the instant messenger Telegram should have revolutionized the way people store and send information. The developments went according to plan and the Telegram team was proud of their achievements. But things turned out differently.
Development of TON and Gram stopped after 2.5 years
Because as the Telegram co-founder announced tonight, the development of TON and Gram has been completely stopped. After long arguments with the SEC (Securities and Exchange Commission), the project is over. This is the consequence of the judgment of a US court. It states that investors intended to sell gram tokens. And investors shouldn’t have the same permission with Gram Token as it does with Bitcoin (BTC) or Ethereum (ETH). Durov is not only disappointed with this decision, but also confused.