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Telegram Plans to Join Cryptocurrency Mania With Ambitious $1.2 Billion Coin

It’s the latest company to join the cryptocurrency craze.

Popular private chat app, Telegram, is the latest company to reportedly plan on joining the cryptocurrency hype by offering digital tokens for sale in an initial coin offering (ICO). This also means that the app could offer blockchain-powered payment services.

Multiple sources revealed to TechCrunch that Telegram is planning to raise a huge amount of cash by launching a new “third-generation” blockchain, called “Telegram Open Network” (TON), described to have superior capabilities. Also, this new cryptocurrency will reportedly be called “Gram.”

Telegram is a private messaging app that lets users send messages while avoiding surveillance.

The company reportedly plans to sell its own cryptocurrency.

Sources revealed that this cryptocurrency will reportedly serve as the app's payment companion.

Telegram’s rumored ICO is said to have the potential to become one of the largest, with private pre-sales amounting to hundreds of millions. It is believed that there is high demand for the ICO since Telegram is already a popular messaging app around the world.

With Telegram supporting cryptocurrency payments inside its messaging service, users could avoid remittance fees when sending funds internationally, deliver micropayments that would incur too high of credit card fees, and move a large amount of money privately.

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The company’s pre-ICO sale is said to be at $500 million, with a token value between $3 billion to $5 billion. That said, Telegram’s cryptocurrency could be the biggest private crypto raise so far. TechCrunch has contacted Telegram CEO and Co-founder, Pavel Durov, for comment on the story but Durov has yet to address these rumors.

It was also reported that Durov plans to have a “centralized and decentralized infrastructure.”

Sources say Durov has decided to combine both a centralized and decentralized infrastructure, since a totally decentralized network doesn’t scale as fast as one which has some elements of centralization, hence why Telegram needs to own its own blockchain.

Telegram's mission is to develop its app into something like WeChat.

With all the plans for TON, Telegram aims to offer services similar to that of WeChat, an app that has evolved into more than just a chat app – it has become a default payment system for many users in China. The difference is that TON is intended to have a decentralized platform that can offer a more resilient and secure service while WeChat’s system is centralized.

Sci/Tech

Ancient 99-Million-Year-Old Frogs Look Just Like Modern-Day Toads

Frogs will always be frogs, whether they were born today or in the Cretaceous Period.

The world is filled with exciting new discoveries from ancient times. Scientists have just uncovered evidence that frogs roamed the Earth during the Cretaceous Period about 100 million years ago. Interestingly, these ancient toads seem to look just like their modern-day descendants.

A new report confirms that scientists have found four frog fossils in northern Myanmar. The tiny bodies were encased in amber and offer a clear glimpse at what tropical rainforests looked like in the Cretaceous Period. In any case, the discovery is groundbreaking since frogs rarely become fossils.

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Elon Musk’s Flamethrowers Get Misused On Social Media Despite Strict Terms & Conditions

What better way to start a particularly hot summer?

There is little doubt that Elon Musk's flamethrowers are the hottest new commodity right now. After all, the fiery device produced by The Boring Company have just been sold out. However, it looks like consumers have already started misusing the dangerous product despite its lengthy terms and conditions.

The Boring Company finally rolled out Not A Flamethrower at a celebrated pick up event held at the company's headquarters. People who had pre-ordered the gadgets were given a chance to sample the power of the flamethrower on unfortunate marshmallows. Although safety was reinforced during the event, things took a dangerous turn once everyone got home.

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NASA’s Curiosity Rover Finds Ancient Organics On Mars, Possible Life On Planet In The Past

The new discovery might confirm life thrived on the Red Planet billions of years ago.

Curiosity has made an exciting discovery on the surface of Mars. The rover has just found possible evidence of life on the planet billions of years ago. NASA might not quite ready to confirm that creatures once roamed the Red Planet. Nevertheless, the agency believes that the findings could mean positive things for future missions.

The NASA rover has found organic molecules in sedimentary rocks near the planet's surface. These molecules may contain hydroxen, carbon, oxygen, and nitrogen and are usually associated with life. However, their presence in the billion-year-old rocks does not confirm life on Mars just yet.

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