Telegram is Leading the Way in Crypto Adoption

By YGG News • September 9, 2024

Telegram is Leading the Way in Crypto Adoption

Telegram, known for its focus on free speech and openness, is becoming a major player in bringing cryptocurrency to the mainstream. While recent news about the platform and its CEO Pavel Durov has been negative, there’s an overlooked bright side: Telegram is making crypto accessible to millions of people. Its connection with The Open Network (TON) blockchain is key to this success.

Image source: LiteFinance

TON, a blockchain originally started by Telegram, faced setbacks in 2020 due to legal issues but was brought back to life by its community. Now, TON is flourishing, thanks in part to Telegram’s integration of its features. Starting in April 2024, Telegram allowed users to make payments using Toncoin (TON’s cryptocurrency) and stablecoins (a type of cryptocurrency designed to maintain a steady value). This change has made cryptocurrency part of everyday activities on the app.

Since then, activity on TON’s blockchain has soared, with over 3.5 million transactions happening each day. This makes Telegram a hub for crypto transactions, all while keeping things simple and easy for users.

Bringing Financial Freedom to More People

The idea behind Web3—the next version of the internet—is to give people more control over their digital assets, such as money and personal data, without relying on banks or other middlemen. Telegram is helping to make this vision a reality by offering Web3 features to anyone with a smartphone. This is a big deal, especially for people who don’t have easy access to traditional financial services.

One of the most exciting aspects of Telegram’s crypto journey is its mini-apps, which are small games and services that work inside the app. These games, like Lost Dogs and Hamster Kombat, offer rewards in the form of cryptocurrency, encouraging people to play. Millions of users are now playing these games, contributing to the high number of transactions on TON’s blockchain. In August 2024, Lost Dogs alone caused a spike of over 13.5 million transactions.

Importantly, most of these users aren’t crypto experts. They’re just regular Telegram users enjoying games and earning rewards, making cryptocurrency part of their lives without them even realizing it.

Challenges with Growing Popularity

With rapid growth comes challenges. During the Lost Dogs game’s token distribution, TON’s system faced some slowdowns due to the high number of transactions. However, the TON team quickly improved their system to handle this increase in activity, ensuring smoother operations in the future.

What sets Telegram apart in the world of crypto is how it simplifies things for its users. Most people playing games or using mini-apps on Telegram don’t need to worry about complicated crypto terms like “private keys” or “gas fees” (extra charges to complete transactions). They’re just having fun, and as they play, they earn rewards in cryptocurrency without having to think about the technical details.

These users, known as “Telegram natives,” are mostly on the app to chat with friends, join interest groups, or play games. The fact that they’re earning digital rewards through their normal activities makes the experience feel natural and easy, helping crypto reach a wider audience.

A New Era for Crypto Adoption

Telegram’s approach to integrating crypto through games and easy-to-use features is changing how people interact with digital money. By focusing on simplicity and fun, Telegram is helping bring cryptocurrency to millions of everyday users, making it more accessible than ever.

Though there are still challenges with scaling, Telegram’s unique strategy is proving that crypto isn’t just for tech experts—it’s for everyone. And with Telegram leading the way, 2024 may be remembered as the year that crypto truly went mainstream.

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