Telegram Reaches 400 Million Users Meanwhile SEC Continues Opposing TON Launch

Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.

Short Insights

  • Telegram, the messenger app announced on April 24, 2020, that it has gained 400 million especial monthly users.
  • SEC has entered into conflict with Telegram since October 2019, doing all that it can to prevent the TON launch.
  • The cloud-based application created in 2013, also stated that it is currently working to make group video calls more secure this year.

Telegram, the messenger app announced on April 24, 2020, that it has earned 400 million especial monthly users. And no less than 1.5 million new people signing into the platform day-to-day. 

Since the court case with SEC is continuing, those 400 million users will not own direct access to the Telegram Open Network, an upcoming blockchain network. 

The blockchain network was expected to legalize Telegram’s millions of users. Telegram at present doesn’t advertise and has its reliance on the reserves of Pavel and Nikolai Durov, its billionaire founders. 

As the money continues to exhaust, maintenance of a blockchain network for its 400 million users is dreadfully extravagant. The Telegram team had to vent its hopes on TON, a network designed to offer much more speed than Ethereum.

Telegram continues facing resistance from SEC regarding TON launch  

Telegram has been facing hurdles through its journey of the TON launch. Another temporary warning in March poured water on the hopes of Telegram to launch TON. The warning was followed after the US Securities and Exchange Commission claimed that Telegram’s token sale of $1.7 billion for TON are securities. SEC has entered into this conflict with Telegram since October 2019, doing all that it can to prevent the network launch.

According to a purchasing agreement for GRAMS, if the network does not launch before or on April 30, investors are bound to claim a refund. Therefore, compelling Telegram to start refunding the money to investors.

Telegram works to add additional security to group video calls this year 

Telegram has evolved as the most downloaded social media application in almost 20 countries. It had earned 100 million users in 2019.

The telegram stated that they started Telegram in 2013 with the presumption that people will prioritize freedom and quality before restrictions and mediocrity. The cloud-based application created in 2013, also stated that it is currently working to make group video calls more secure this year. 

Telegram featuring high encryption and speed offers a more secure manner than WhatsApp to send instant messages. However, it is still far behind the Facebook-owned platform, which owns more than 2 billion users. 

The Russian government is planning to overturn its ban on the service and has acknowledged Telegram’s value. This is because they have realized its benefits to spread crucial information about COVID-19. 

Telegram’s prioritizing privacy before all have surely earned its popularity. Nevertheless, the question remains about how long Telegram stays without sinking due to the lack of a sustainable business model.  

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