Telegram Raises $1.7 Billion To Develop "TON Blockchain"

[MovieChain]

Telegram obtained a total of 1.7 billion U.S. dollars through two rounds of financing and stated in its filing that the financing was for the development of the "TON blockchain" and the development and operation of the Telegram chat tool. The network aims to become the third-generation blockchain after Bitcoin and Ethereum. Telegram stated in its white paper: “The status of blockchain technology is similar to that of cars in 1870: promising and highly praised by lovers, but inefficient and too complicated for mass consumers.”