While developing a new platform, Durov had a brilliant idea that Telegram can also be used as a platform for ICO. Thus, he invented his own cryptocurrency – Gram. A new project TON is a blockchain project. TON is the perfect basis for performing smart contracts and selling contract developing services. Any smart contract is the full-cycle support for commercial transactions in the crypto business field. Such a smart contract monitors compliance with all the contract conditions. Here, blockchain technology is required, since it is that very technology that provides a contract with the total protection from any external interference. At the same time, the technology contains a Transaction Block that includes all transactions within a certain contract.Smart contract
At present, TON blockchain technologies among other things include TON Virtual Machine (TVM) – a smart contract mechanism that has already been developed and tested. Among its advantages for performing any transactions is the total automation. Advantages:
- Trustworthiness of a business solution. Computers never lie.
- No costs and other expenses for performing and processing a transaction.·
- Data storage and enlargement in information blocks.
- From cover to cover transaction security.
- Reliability. The smart contract automation eliminates the risk of a counterparty bankruptcy.
According to experts, development of smart contracts and other ICO tools in 2019 is very likely to become the most important realization of the TON-implemented blockchain technology.