HomeНовости и политикаRelated VideosMore From: The Cryptoverse

Telegram ICO Investigation Part 2 - The Draft Whitepaper

271 ratings | 7107 views
Subscribe to my DTube channel at: https://d.tube/#!/c/marketingmonk Click on a video and then click 'subscribe'. Today’s episode is brought you to by… Roboform, my favourite password manager app. https://www.roboform.com/?affid=c5489 Today I would like to continue where I left off yesterday by going even deeper into my investigation into the rumoured Telegram ICO and blockchain based apps platform. I’m glad I did this in 2 parts because I’ve now had 24 hours to reflect on what I talked about yesterday, which has given rise to a few insights. The first is that I do not think these materials have been leaked by accident. The marketer in me is beginning to think this is actually just part of a very clever product launch strategy. By seeding the market with small pieces of ‘leaked’ information, people like me jump on it and basically starting promoting their ICO for free. Other media outlets do the same and the news goes viral without Telegram having to spend a penny on advertising. This isn’t fact, its just what I have started to think based on what I see and my own experience doing marketing campaigns that have similar characteristics. Second, I still have heard no official word from Telegram as to whether they confirm or deny any of this. I suspect if they were not doing anything like an ICO, a cryptocurrency or a blockchain they would come out with a strong denial, but they haven’t. https://twitter.com/telegram Their last tweet for example was from the 30th of December and was an announcement about a new version of the messenger app. And there is nothing on their blog: https://telegram.org/blog The main promise I made to you yesterday was that I would analyse the draft whitepaper, which is officially called the Primer document. So here we go. https://icorating.com/upload/whitepaper/gNQ7e9z3lCGi519Wz8mmC0Kg8aA0goeZKAQ802vo.pdf You get a pretty good overview of the project just from the table of contents. The foundation of the project is the Telegram Open Network and the techniques they plan to use for massive scalability. That then enables all the features of the TON platform such as: TON Storage TON Proxy TON Services TON DNS And of course TON Payments Then they have a section on integrating the Telegram messenger app as the way to interact with the network. The paper does specifically say that it will launch in 2018 so that’s something specific. However when you have a look at the roadmap, the full released isn’t dated until the 4th quarter. And speaking of dates, while TON stands for Telegram Open Network today, it says this will change in 2021 to The Open Network. This primer also makes references to the technical whitepaper, which I have not yet managed to get a hold of. The paper sets the scene by using Bitcoin and Ethereum has the best examples of cryptos to date but that they are still falling far short of something the average person can use day to day, which is what their token is going to be. They highlight the fact that the TON wallet, which will be integrated right into the Telegram messenger app, will quickly become the worlds most adopted cryptocurrency wallet. One question I have is how they are going to handle people’s private keys. How are they going to keep it super user friendly while also making users back up their wallet? We shall have to see. They say that 500,000 new people download Telegram each day. That’s quite normal for a messenger app, but half a million downloads per day for a cryptocurrency wallet is huge. In this section about the TON blockchain, they start to describe what they refer to as their 2 dimensional blockchain architecture. It says the network will have a master chain and then up to 292 accompanying blockchains in what they term an ‘Infinite Sharing Paradigm’. Or as they refer to it in the promo video ‘every block can become its own blockchain’. But again they refer you to the technical whitepaper for more detail on how this works. Anyway assuming all the fancy infrastructure provides the massive scaling that they claim, then comes the services the network can provide such as… TON Storage, which is a decentralised file storage system similar to the ones we have seen in the blockchain space so far. TON Proxy, which would enable privacy services like a VPN or anonymous browsing like TOR. TON Services, which is where you’d access all the various decentralised apps or even a decentralised world wide web. And then there is TON DNS, a decentralised naming system so we’d be able to give human readable names to everything rather than cryptographic addresses. And finally TON Payments, which will enable micropayments and achieve that day to day usage we mentioned earlier. You know, Telegram may be targeting the mainstream with this, but we all know that Telegram is the chat platform of choice for cryptocurrency projects.
Html code for embedding videos on your blog
Text Comments (37)
Kumar Abhishek (1 year ago)
Amazing, your video was super helpful!! I have been doing a lot of research and am super interested in SciDex.
Jose Antonio Lanz (1 year ago)
Gal Gueta (1 year ago)
THIS IS A SCAM, watch out people don't invest.
Federico Tegano (1 year ago)
Telegram is giving the Tokens of this ICO for free before the official launch. Just click on the following link and follow the instructions http://t.me/hodl2bot?start=FEDERI8E Once inside the group, request your tokens by writing / claim Also give everyone their own referral link to let all your friends turn
C White (1 year ago)
Someone explain this to me please? What exactly gives the tokens value? This doesn't just apply to this Telegram ICO. The coins aren't shares of stock in a company and most of the technology in this space is "open sourced" where anyone can take the code and copy it. I understand that the token is used inside the block-chain in order to perform the micro-transactions needed to do the work . But what actually gives a TON, XRP, etc. value other than the perception of value by traders? Ripple, for example, is used in their money transfer system. It's amazing technology but why is the XRP token needed in that transaction? Couldn't you just replace it with a digitized fiat currency and it will work just fine? XRP is essentially a "beta currency" to be replaced by the USD, Yen, etc. Again, no stock . No patents. No barriers to entry. No value? A coin attached to an actual business that gives back profits in the form of "dividends" to coin holders would give it some baseline value, but the TON transactions will be essentially nearly free. So how does the system make any money for "coin holders". See what I mean?
YC (1 year ago)
>most of the technology in this space is "open sourced" where anyone can take the code and copy it You can copy the tech but you can't copy the blockchain. So a particular token/coin will operated within its ledger. >But what actually gives a TON, XRP, etc. value other than the perception of value by traders What was the value of google when investors poured money into it? They did not have a way to monetize. They believed in the the tech. A powerful search engine that could get you what you wanted Same thing with cryptos. A DECENTRALIZED way for processing transactions (money, contracts, services etc). Whenever i explain this to people, they never seem impressed. It is a BIG DEAL. think about the consequences for a moment and why people VALUE this tech before all these speculative investors came in. >XRP token needed in that transaction A lot of people who are into the ideals of crypto-technology don't actually like XRP. Just FYI, its not ideal to have a coin that is controlled by the banks. >Couldn't you just replace it with a digitized fiat currency and it will work just fine Oh you mean a currency that is still being influenced by the Central Bank? where a central authority can dictate the interest rates and plunge the country into more debt to fund the federal government? >TON transactions will be essentially nearly free so not free. you know there are transaction fees right?
alfresco rhythm (1 year ago)
Thanks for taking the time to have a deeper look.
R. VDB (1 year ago)
I would never invest in an ICO that will start with a $1.2 billion market cap. Who will benefit from that in the future?
Sah Kav (1 year ago)
The purpose of TX fees is not just to pay miners, it is also to stop spam attacks. Would be interesting to see if they use the same PoW mechanism as RaiBlocks if they choose to go down the 0 TX fee route.
George's Channel (1 year ago)
Do think the US citizens will be allowed to participate?
bozhead00 (1 year ago)
Telegram is like one long text message, and a total headache. Discord is so much better.
Eugene Bikulov (1 year ago)
TON's whitepaper sounds like someone's joke and makes very little sense tbh
Scott Diamond (1 year ago)
Samatha Rechtlo (1 year ago)
I safe all my ETH for the CELL ICO which stars in a couple days. Just read the white paper
Martin (1 year ago)
Could they be planning an Eos fork? Timeline and functionality matches pretty well...
Anders Björkman (1 year ago)
Man, I love your digging into projects and also reporting on it afterwards :)
Gary Winehouse (1 year ago)
When and where can we buy this?!
Steve Gee (1 year ago)
..but first, a word from our sponsor, RoboCop (or whatever). Argh! Like your content, but hate it when people drop their pants for some coin.
Romain Mornfall (1 year ago)
awesome vid, as per usual ! keep it up !
Harald O. (1 year ago)
The only concern I do have is where they will get all the developers from to do all that work. They need dozens or even hundred(s) of excellent programmers to get all that stuff done
Harald O. (1 year ago)
Fantastic video, when this all will come true what Telegram describes in Primer, most other cryptocurrencies are useless!
Jay Dee (1 year ago)
You didn’t cover the most important factor - how will they monetize this ??
Armando Garza (1 year ago)
More often now i see ICOs have behind the scenes presale for "special investors" reminds of IPO for the stock market.. Major head start for sure 🤔🏋😎
K P (1 year ago)
I actually like their direction
Roberto Stelle (1 year ago)
Thank you from Italy for the nice new video.
Mainline2U (1 year ago)
Good info Chris! Thank you. Good & reasonable points on overall viability.Any doubts aside, Telegram is a far better messenger that any standard text msg app, which gives much credibility.Learned about it from you! Thank you!
Thanks for the video with lots of content that we should keep our eyes in it.
Lorenzo Zjalarre (1 year ago)
Sounds alot like Pillar. We'll see who wins. There are many wallets out there competing for this space.
If only I'd mined or bought Bitcoin years ago. However many computers, hard drives, USB sticks, paper wallets etc etc I had thrown away, had broken down irreparably, I would still have access to my bitcoin now, thanks to Roboform, which I have been using for donkeys' years.
S S (1 year ago)
why do you use sponsors to publish youtube videos?
celestia1 (1 year ago)
I guess its to compensate for the time that he puts in.
Mainline2U (1 year ago)
Why not? Helps support all the work that goes into a channel. He wouldn't promote anything he didn't believe in.
S S (1 year ago)
Andrei Barbu it's a simple question, no need to get defensive and take it personally unless of course you know the cryptoverse personally? If not the cryptoverse can answer himself. and i just assumed his cryptofolio had enough in there to feed him.Guess that's why I should never assume!
Andrei Barbu (1 year ago)
Scott Seybold because he needs money to feed himself
Panda FPV (1 year ago)
Woot woot! Congrats on the Documentary cameo.
John Stanley (1 year ago)
I hope telegram does an ICO, sounds like easy money.
The Cryptoverse (1 year ago)
Stop searching and start learning by taking my structured cryptocurrency courses at: https://goo.gl/zXwKrV

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.