The price of Toncoin rose by more than 24% on Wednesday, following Telegram's announcement that payments on its advertising platform will be made exclusively with the cryptocurrency.
Telegram Ads, the instant messaging app's advertising platform, will be a space in which channel owners on the instant messaging platform will be able to monetize their content more effectively.
Du Rove, founder, CEO and product manager of Telegram, he highlighted Telegram announced from its official channel that owners of streaming channels on the platform will soon be able to start monetizing their content and receive financial rewards. Starting next month, Telegram will officially launch its Telegram Ads advertising platform, which will be accessible to all advertisers in a hundred countries around the world, Rove said.
Through this platform, advertisers will be able to create their own advertising campaigns to improve their content and attract more users and customers. According to Rove, the best thing about all this is that channel owners and advertisers on the platform will be able to Monetize your content through The Open Network (TON), the layer-1 blockchain developed by the TON Foundation.
Fast and secure payments on Telegram with Toncoin
Rove's post emphasized that payments on the advertising platform will be made exclusively with Toncoin, the native cryptocurrency of The Open Network. In this way, users will be guaranteed that Payments and ad withdrawals are made quickly and safely.
“To ensure fast and secure ad payments and withdrawals, we will exclusively use the TON blockchain.”
In addition to this, the Telegram co-founder highlighted that the income generated by the ads on the platform will be shared with the channel owners, also using the Toncoin cryptocurrency. “This will create a virtuous circle, in which content creators will be able to cash out their Toncoin or reinvest it in promoting and updating their channels,” he indicated.
The Toncoin blockchain, initially developed by Telegram and now by the TON Foundation, has been established as the fastest in the world, after conducting a performance test, which was broadcast live on October 31, and in which the network managed to process 104.715 transactions per second.
The blockchain developers compared the results obtained with the networks of Visa and Mastercard, which operate two of the largest traditional payment systems in the world. This comparison showed that operations on the TON network are 38% faster than on Visa and 95% faster than on Mastercard.
TON up 24% on Wednesday
Toncoin’s price was boosted following Rove’s announcement, rising by over 24%, according to data from CoinMarketCap.
At the time of writing, TON is trading above $2,63, although on Wednesday, the cryptocurrency's price briefly touched $2,92.
Source: CoinMarketCap
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