The founder and CEO of multi-platform messaging service Telegram is proposing a blockchain-based marketplace for usernames and addresses used on the messaging app.
Pavel Durov says on his Telegram channel that the idea is inspired by the success of a domain and wallet name auction conducted by The Open Network (TON) blockchain.
According to the Telegram CEO, Telegram is likely to enjoy more success with a marketplace for highly sought-after usernames and addresses given its large user base.
“If TON has been able to achieve these results, imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction. In addition to millions of catchy t.me addresses like @storm or @royal, all four-letter usernames could be made available for sale (@bank, @club, @game, @gift etc).”
The Open Network (TON) blockchain was designed by the founders of Telegram, Pavel Durov and Nikolai Durov. The token is now being developed by the TON Foundation, which is a community of open-source developers.
Durov says that the envisioned platform for auctioning Telegram usernames and addresses would allow the exchange of the digital properties similar to how non-fungible tokens (NFTs) function.
“This would create a new platform where username holders could transfer them to interested parties in protected deals – with ownership secured on the blockchain via NFT-like smart-contracts. Other elements of the Telegram ecosystem, including channels, stickers or emoji, could later also become part of this marketplace.”
According to Durov, The Open Network is the best-suited blockchain for hosting the proposed Telegram marketplace as it enjoys advantages in key performance metrics.
“When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales. Our team can write bullet-proof smart contracts for TON (since it was us who invented its smart-contract language), so we are inclined to try out TON as the underlying blockchain for our future marketplace.
Let’s see if we can add a little bit of Web 3.0 to Telegram in the coming weeks.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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