• Telegram: Crypto Island's Bridge to the Mainland

  • Jul 24 2024
  • Duración: 13 m
  • Podcast

Telegram: Crypto Island's Bridge to the Mainland Por arte de portada

Telegram: Crypto Island's Bridge to the Mainland

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  • This story was originally published on HackerNoon at: https://hackernoon.com/telegram-crypto-islands-bridge-to-the-mainland. Crypto is a relatively insulated emerging technology, making the path to mass adoption uniquely challenging. While blockchain projects promise to disrupt ... Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #cryptocurrency, #telegram, #ton-telegram, #ton-blockchain, #the-open-network, #telegram-cryptocurrency, #token2049, #hackernoon-top-story, #hackernoon-ru, #hackernoon-tr, #hackernoon-ko, #hackernoon-de, #hackernoon-bn, #hackernoon-es, #hackernoon-hi, #hackernoon-zh, #hackernoon-vi, #hackernoon-fr, #hackernoon-pt, #hackernoon-ja, and more. This story was written by: @blockhiro. Learn more about this writer by checking @blockhiro's about page, and for more stories, please visit hackernoon.com. Crypto is a relatively insulated new technology, making the path to mass adoption uniquely challenging. To me, it doesn’t seem like the main issue is about UX per se. That’s almost ready. The real bottleneck is easy accessibility between blockchain projects and massive social networks. This is where Telegram’s user base and open APIs provide a game-changing opportunity – and not just for TON. Telegram has become an essential tool for crypto projects’ communications and community building. And it is widely used not only by crypto natives, but by potentially hundreds of millions of crypto-ready users, based on the number of users already playing TON mini-games. TON has made the most strides into this space due to its special relationship with Telegram. Since being endorsed as Telegram’s “official web3 infrastructure” in September 2023, TON has attracted considerable attention and investment (e.g., Pantera Capital’s “largest investment ever”). The launch of TON Space, a self-custodial wallet embedded in Telegram settings and attachment menus, allows nearly a billion users to easily engage with crypto apps on Telegram (“tApps”) without ever leaving the platform. These apps provide an all-in-one, de-fragmented experience, where users don’t have to connect a wallet to a separated browser application. TON’s recent collaboration with Telegram reminds me of Spotify’s collaboration with Facebook in 2011. As Spotify leveraged Facebook’s social graph to build communities around music sharing, TON harnesses Telegram to foster communities around value transfer. In both cases, the integration with a massive social network – each boasting around 800 million monthly users at the time – catalyzed significant growth and adoption of a new technology. TON may have stolen the spotlight, but we shouldn’t overlook other blockchain projects making moves into Telegram. To me, NEAR protocol stands out with its new self-custodial HERE Wallet and its Telegram implementation. These integrations too have seen substantial user adoption, underscoring the potential for multiple blockchains to coexist and thrive on Telegram. tApps have come a long way, with UIs improving from simple proxy-page-like trading bots to full-fledged apps combining memes, gaming, social, and more to offer a much more captivating user experience. Notcoin and Hamster Kombat are a couple of strong examples, but there are a bunch coming out. We are starting to see early indications of a transformative pattern: new technologies that challenge established ones experiencing rapid growth after integrating with massive social networks. Just as Facebook was the right product at the right time to accelerate the rise of Spotify and music streaming in the 2010s, Telegram is the right product at the right time to accelerate blockchain adoption and normalize onchain value transfer in the 2020s.
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