TON On Track To Meet October 31 Release Date

Olowo by Olowo - 06:53 AM Oct 05, 2019
ton-on-track-to-meet-october-31-release-date

TON (Telegram Open Network), the Telegram Blockchain, is on its way to meet its expected launch date at the end of October. After some uncertainty, the company recently sent an email to investors, where it clarified this point.

The CTO of TON Labs, Mitja Goroshevsky, confirmed the authenticity of the email sent to investors. He also added that TON Labs itself "will execute and manage its own validation group."

TON Labs is a tool for creating startups, aimed at the developers of Telegram Open Network.

Goroshevsky, communicated through a channel within the messaging service dedicated to the project, that "the original investors received emails from the central Telegram team."

Investors To Provide Code Keys Before October 16


In addition, he informed that investors should provide their keys published to Telegram before October 16 using a key generator. In this way, they will be able to receive the tokens or "Grams" they bought.

The message also mentions issues related to governance, stating that Telegram will refrain from running the network:

«Investors have to select validators. Neither Telegram nor the TON Foundation will serve as validators after launch ».

It is important to remember that, at the beginning of September, TON released its code, which gave the community the possibility to test complete nodes, validation nodes, and a block explorer.

TON launch Has Been Shaded With Controversies


The reason why today is news that everything is on track to meet the deadline for the launch of TON, is because they had to postpone it once.

It is important to remember that the blockchain has been built almost entirely in secret. The project which raised $1.7 billion in early 2018 has been largely kept under wraps by telegram.

The first release date was scheduled for September 1, but it had to be delayed for unclear reasons. This prompted a feeling of distrust of the project, especially from investors.

This distrust caused several investors to try to sell their Grams allocations. The problem is that if they did, they could be penalized with the cancellation of their purchase contract.

For this reason, an email was sent to investors where the project team assured that everything was fine ahead of the launch date of October 31.  It remains to be seen whether the project will launch as scheduled.

 

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Olowo

OlowoI am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.

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