Telegram is launching its cryptocurrency ‘Gram’ in October, as per The New York Times report. The encrypted messaging service wants that its cryptocurrency operates as an online currency, allowing people to transfer money globally. It will function in a similar manner as the newly revealed, Facebook cryptocurrency Libra.
It will be released by the end of October. Telegram is planning to provide digital wallets to millions of its users.
Telegram did not comment on this. Quite unlike Facebook, Telegram has been quietly working on its cryptocurrency. Not much is known about it. According to the reports, the work on it started back in 2017. The company raised $1.7 billion from the investors for initial coin offering.
Must read: Telegram hit by a severe Cyber Attack in China
Similar to Bitcoin, the Gram will be decentralized. It will not be controlled by Telegram. This can help it avoid a few of the government regulations. Facebook, however, went through intensified scrutiny of Libra since its announcement in June.
The advantage that big names like Telegram, Facebook has over other companies when launching their cryptocurrency is that they already have huge number of followers. So they will get a jumpstart when they officially launch their cryptocurrencies.
Research Snipers is currently covering all technology news including Google, Apple, Android, Xiaomi, Huawei, Samsung News, and More. Research Snipers has decade of experience in breaking technology news, covering latest trends in tech news, and recent developments.
After years, the official system requirements for Minecraft are noticeably increasing. According to the developers,…
Manufacturer Qualcomm is planning significant price increases for its Snapdragon chips. From September onwards, costs…
Valve has significantly increased the prices for the Steam Deck. Since then, sales of handheld…
A logo is often the first impression people have of a brand. Whether you're launching…
In a world that's moving faster than most of us can keep up with, e-wallets…
Fluctuating rates, overloaded servers and frozen updates often plague Xbox users. Microsoft is now intervening…