Telegram Officially Announced the Integration of Gram Wallet in Telegram App
The open source and decentralised messaging application Telegram has officially announced its involvement in the Telegram Open Network (TON) Blockchain development. TON ico gets a lot of hype in 2018 and raised $1.7 billion in Initial Coin Offering (ICO).
GRAM is the native token of the Telegram Open Network (TON) Blockchain. The first appearance of Gram token and TON Blockchain is found on the telegram’s terms of services (tos) section on the official website.
The terms of service (tos) section says that Gram Wallet will be integrated with the messaging application and also available as a standalone product.
The terms of service (tos) added: “We have no control over the TON Blockchain network and therefore cannot ensure that any transaction details that you submit via the Services will be validated and confirmed on the TON Blockchain.”
The wallet is issued by London-based Telegram FZ-LLC, the entity Telegram registered for messaging application and the official publisher of Telegram App on Google Play Store.
According to the tos section, the private keys and user information is never stored on Telegram servers and user is solely responsible for any losses.
“You are solely responsible for managing and maintaining the security of your Credentials. If you lose your Credentials, we do not have the ability to recover your Credentials or assist you in retrieving your Credentials, and you may not be able to access your Grams.”
Telegram claims that the TON Blockchain is fully decentralised and Telegram have no control over verification and modifications of transactions.
“The transactions you submit via the Services may not be completed, or may be substantially delayed by the TON Blockchain. We have no control over the TON Blockchain and do not have the ability to facilitate any cancellation or modification requests to transactions you have submitted. A fee may be imposed on your transaction by the TON Blockchain. We have no control over the amount or type of such fees.”
This is the first time Telegram officially mentioned TON Blockchain project. The Telegram CEO and team is silent from the beginning and didn’t commented on TON Blockchain project.
The TON ico was held in February and March 2018 that have two private rounds. The price of each token in the first round is $0.37 and in the second round is $1.33. Telegram announced earlier that the GRAM tokens will be distributed before 31 October. Telegram also released the node software and testnet block explorer recently. Telegram already released the GRAM token wallet for iOS.
