There are over 2,000 cryptocurrency tokens in the world. Many of these tokens are quite similar, with the exception of Bitcoin and Ethereum, which are pioneers and thus leaders in the cryptocurrency space. However, the Gram token, which is scheduled to launch in 2019, promises to make a significant difference and thus disrupt and revolutionize the world of cryptocurrencies.
What Is The Gram Token?
The Gram token is the official currency of Telegram’s own cryptocurrency platform – the Telegram Open Network (TON). The platform’s total coin supply is 5 billion Grams. At the start of 2018, TON managed to attract funds from nearly 180 investors and sell nearly half of all tokens. Telegram has committed to converting these tokens 1:1 into Gram tokens after the TON Blockchain is deployed.
At the first stage of the ICO, the price of the tokens was $0.38, which rose at the second stage to $1.33. Some analysts predict that the cost of the Gram will reach $19 per token by the end of 2019. The distribution of the token supply is as follows:
- 52% – retained by the company reserve.
- 44% – sold to investors in private sales. Those investors will have to hold on to their coins during an 18 months lock-up period.
- 4% – reserved for the development team.
Gram Token Benefits
The main advantage of Gram over other cryptocurrencies is its user-friendliness. As the Telegram Open Network platform is integrated with the Telegram messenger app, the interface of its wallet will be familiar and intuitive. Therefore, the currency will be easy to use even for the beginners. As claimed by the TON founders, the Gram is going to become the first mainstream cryptocurrency.
Telegram’s ecosystem, which already exists and has proven its reliability, will offer simple ways of buying the native tokens as well as provide a wide range of services to spend them on. In the future, by using their verified IDs together with bots that accept credit cards, Telegram users will be able to buy and exchange cryptocurrencies in a legal and seamless way.
Gram Token Usage
In addition to being the main means of payment on the Telegram Open Network, its native currency can be used in one of the following ways:
- To vote for various changes in the parameters of the protocol.
- As a commission for processing of the transactions and smart contracts.
- To generate new blocks and coins as well as validate the transactions.
- To pay for the registration of the blockchain based domain names (TON DNS) and hosting of the Telegram Open Network websites (TON WWW).
- To pay for the IP address and identity anonymization as well as bypassing the censorship of local Internet service providers (TON Proxy).
- To pay for the third-party services within the decentralized apps built on the platform (TON Services).
- To pay for the storage of the data in a decentralized way (TON Storage).
To sum up, Gram seems to be a very promising token. We will have a chance to see its power after the final release of the TON platform.