Telegram Brings New Digital Currency ‘Stars’ Based on Ton Blockchain
Telegram, the popular messaging platform, has launched its new in-app currency, ‘Stars’ to enable seamless digital payments within its ecosystem.
This innovation is built on the TON (Telegram Open Network) blockchain, leveraging the success of TON Coin, which recently hit an all-time high price, from $2.00 to $7.50 within a 5-month timeframe.
Stars can be used to purchase digital goods and services, such as e-books, online courses, and in-game items, directly from Telegram bots.
Key Features
- Integration with Ton Blockchain: Stars are built on the Ton Blockchain, ensuring secure and decentralized transactions.
- In-App Purchases: Users can buy Stars through Apple, Google, or PremiumBot, and use them to make purchases within the Telegram ecosystem.
- Developer Benefits: Developers can convert their Stars earnings into Toncoins via Fragment, offering them greater liquidity and engagement.
- User Experience: Stars comply with Apple and Google policies, ensuring a seamless and secure purchasing experience for users.
Why Stars?
Telegram’s ‘Stars’ is designed to facilitate purchases within the app, allowing users to Buy Digital Products and services seamlessly. This initiative leverages the Ton Blockchain to ensure security and efficiency, aligning with Telegram’s vision of integrating blockchain technology into mainstream applications.
The launch of Stars comes on the heels of the Toncoin reaching its all-time high, reflecting growing confidence in the Ton Blockchain. By integrating Stars, Telegram aims to create a powerful digital payment system, encouraging the adoption of blockchain-based transactions.
With Toncoin hitting ATH $7.76 recently, there’s a bullish sentiment around the Ton Blockchain. This positive market sentiment is likely to boost the adoption of Stars, fostering a new wave of digital economy within Telegram.
Pavel Durov’s Observation
On Thursday, June 6th, Telegram’s CEO Pavel Durov unveiled the concept for a new in-app currency called ‘Stars.’ This currency aims to enable the purchase of digital goods and services within Telegram mini apps, operating within a Crypto-Backed Ecosystem.
“If developers reinvest Stars in promoting their app, the overall commission will be nearly 0%. As a result, launching apps on Telegram makes more economic sense than launching traditional mobile apps.”
– Pavel Durov, CEO of Telegram
Market Effects & Future Opportunities
The latest update expands Telegram’s Bot Platform to include support for payments for digital goods and services. This enhancement boosts the ecosystem for its over 400 Million Monthly Users who interact with bots and mini-apps on the platform.
The launch of ‘Stars’ is expected to drive significant trading volume and interest in TON Coin. The bullish sentiment around TON, supported by technical indicators and a high Fear & Greed Index score, suggests a promising future for both TON Coin and ‘Stars.’ Increased trading activity and whale interest further indicate strong market confidence.
The introduction of ‘Stars’ is seen as a strategic move to expand its digital economy, catering to over 900 million Telegram users globally. This new currency is expected to open up new business opportunities for developers, allowing them to monetize their digital content more effectively.
Author: Mr.OxBull
Article Published: June 07, 2024
