Telegram revived its blockchain project Toncoin (TON) to enable in-app crypto payments similar to Twitter's Bitcoin payments
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The TON Foundation announced on Twitter that users will now be able to send cryptocurrencies within the app via Toncoin. To access the crypto payments feature, users will first be required to opt-in via the app’s Wallet Bot. The feature is limited to BTC and TON cryptos as of now. Telegram boasts 550 million users today.
The users can click on the ‘Wallet’ icon in direct messages to start using the feature. Users will be able to send BTC and TON without any transaction fees. The tweet said that users will no longer be required ‘to enter long wallet addresses and wait for confirmations.’ 800,000 Telegram users have already used the bot, the TON Foundation reported.
TON Foundation said, “We anticipate that this functionality will extend into the consumer to business payments so that people can easily acquire goods and services by sending Toncoin via bots in the Telegram app.â€
TON Foundation’s website states that 52 million transactions have been conducted via 486,000 wallets so far. Recently, the foundation was able to raise $1 billion worth of TON tokens for the advancement of the TON ecosystem.