Summary: The Rise of Blockchain and Web3 on Telegram
Telegram, a messaging app with nearly 900 million monthly active users, is set to introduce a mini app store and in-app browser with web3 support by the end of July 2024. The platform has seen a surge in blockchain-related activities, particularly tap-to-earn crypto games like Hamster Kombat. This shift aligns with Telegram’s founder Pavel Durov’s vision of bringing blockchain technology to the masses. The popularity of blockchain games on Telegram has led to significant growth in the TON blockchain ecosystem, with a TVL of over $760 million. Telegram’s upcoming security measures aim to combat scams and enhance user trust in the platform’s burgeoning blockchain ecosystem.
Telegram’s Expansion into Blockchain and Web3
- Telegram, a messaging platform with nearly 900 million monthly active users, is set to launch a mini app store and in-app browser with web3 support by the end of July 2024.
- The platform has become a hotspot for tap-to-earn crypto games, with titles like Hamster Kombat attracting millions of users in a short time span.
- Founder Pavel Durov envisions 2024 as a pivotal year for blockchain adoption and sees Telegram as a key player in this transformative process.
Growing Blockchain Ecosystem on Telegram
- Tap-to-earn crypto games on Telegram, such as Notcoin and Yescoin, have gained immense popularity, with Hamster Kombat reaching 239 million users in just 81 days.
- The TON blockchain associated with Telegram has experienced significant growth, with a total value locked (TVL) surpassing $760 million, up from $300 million in May.
- The native token of the TON network, Toncoin, has also witnessed substantial price appreciation, reflecting the growing interest in blockchain activities on Telegram.
Enhancing Platform Security and Trust
- To address the rise in scams within the blockchain gaming space, Telegram is implementing new security measures, including displaying registration information for public accounts and enabling third-party verification through mini apps.
- Organizations will be able to issue labels for channels using their mini apps, creating a decentralized marketplace for third-party validation and enhancing trust within the ecosystem.
Future Prospects and Development Opportunities
- The introduction of the mini app store is expected to catalyze further innovation in blockchain-based applications on Telegram, providing users with seamless access to a variety of crypto projects without the need for additional installations.
- In response to the growing interest in blockchain gaming on the platform, initiatives like the $50 million gaming accelerator program by Notcoin and Helika Gaming aim to support and nurture the burgeoning gaming ecosystem on Telegram.
Hot Take: Embracing the Future of Blockchain on Telegram
As Telegram gears up to launch a mini app store and in-app browser with web3 support, the platform is poised to become a pivotal hub for blockchain innovation and adoption. With a strong emphasis on security, transparency, and user trust, Telegram is setting the stage for a vibrant blockchain ecosystem that empowers both developers and users. The influx of blockchain games and the impressive growth of the TON blockchain underscore Telegram’s commitment to embracing the future of decentralized technologies and revolutionizing the way we interact with digital assets.
By
By
By
By