The fall of the FTX empire has sent the crypto market n a frenzy and more crypto enthusiasts are looking for DEXs or Decentralized Exchanges to explore crypto investments. The new player who is getting into the field to provide a trustless and decentralized space for the investors is Telegram. Following the tweet back in April, Telegram has been a little quiet with their crypto endeavors.
You can now send #Toncoin directly within Telegram chats!
It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.
Watch the video and test the new feature! pic.twitter.com/EtXSMFtJj6
— TON (@ton_blockchain) April 26, 2022
However, to use the crypto payment feature, users first had to download and install a verified bot that was built on Telegram’s open Bot API which supported the crypto transfers and allowed them to buy crypto assets using a bank card, trade them, or send them to other wallets.
Following the induction of Telegram’s blockchain-based decentralized auction platform, Fragment, Telegram has seen a sale of $50 million in usernames in less than a month through it, as mentioned by CEO Pavel Durov on Wednesday. The platform operates with TON; the native token of The Open Network.
JUST IN: Telegram to build decentralized #crypto exchange and wallet.
— Watcher.Guru (@WatcherGuru) November 30, 2022
Backing the developer community, Durov called for heading the crypto industry back towards decentralized applications and away from having to trust third parties. Following what went down with the FTX collapse, Durov, along with Cardano founder Charles Hoskinson have voiced their thoughts on the misuse of having power when things are centralized. Hoskinson said, “The failures we’re having aren’t failures of protocols, aren’t failures of DeFi. They’re failures of trust, they’re failures of regulation, they’re failures of people.”
Souce: CoinDesk; Watcher.Guru
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