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- The messaging app’s creator proposed leveraging NFT-like smart contracts to build an auction mechanism that would let users compete for exclusive usernames, groups, and channel connections.
- He also suggested Telegram’s potential decision to include channels, stickers, or emojis in the auction.
- Users who want to use the messaging app’s encrypted capabilities constantly choose Telegram, which has more than 700 million users.
The Use of Smart Contracts on Telegram
The millionaire inventor of the encrypted messaging platform Telegram, Pavel Durov, has floated the idea of holding an NFT auction for well-known usernames. Durov made his remarks in a message to his private Telegram channel called ‘Durov’s Channel,’ according to many sources. The messaging app’s creator proposed leveraging NFT-like smart contracts to build an auction mechanism that would let users compete for exclusive usernames, groups, and channel connections.
In accordance with the suggested plan, Telegram would sell off exclusive usernames, groups, and channel connections. Durov suggested the use of smart contracts to carry out the service. Ownership would be safeguarded on the blockchain via NFT-like smart contracts, opening up a new marketplace where username holders could transfer them to interested parties in protected trades.
The Open Network
He also alluded to Telegram’s potential decision to include channels, stickers, or emojis in the auction. Durov made his remarks after The Open Network (TON) successfully launched its domain name auctions at the end of July. The layer-1 blockchain known as TON was created and introduced by Telegram. Users can participate in the auction and place bids on domain names using the ‘.ton’ access address, which works similarly to the Ethereum Name Service (ENS).
Users who want to use the messaging app’s encrypted capabilities frequently choose Telegram, which has more than 700 million users.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
