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The TON blockchain has had a year of great success. It owes much to the extraordinary success of clicker games like Hamster Kombat and a strong bullish market.
The TON blockchain has had a stellar year, thanks in no small part to the clicker games like Hamster Kombat and a bullish crypto market. Its native token, Toncoin, has surged over 100% since January, making it one of the top 10 cryptocurrencies by market capitalization, outpacing even Bitcoin and Ether.
But is the TON blockchain in jeopardy?
Well, TON is still largely intertwined with the fate of Telegram. Last week, cryptocurrency exchange Bitget announced that it had participated in a $30 million strategic investment in TON, which will see it play a role in the network’s governance.
So far, so good. But Bitget also released the results of an in-depth study that it carried out, which竟揭示了一些关键问题 that could spell trouble for TON down the line.
The report paints a picture of a network that is struggling to keep up with demand, despite being one of the fastest growing of 2024. It highlights a lack of DeFi infrastructure and a small developer community.
Telegram and TON鏈接
The bigger issue seems to be the close ties between TON and Telegram messenger, which have come under increased scrutiny following the sensational arrest of its founder Pavel Durov. The incident also saw Durov renege on one of the platform’s key tenets — the absolute guarantee of user anonymity.
These legal troubles could put TON at risk in the long term, according to Bitget, presenting “major challenges” to its efforts to expand and achieve global adoption, the report adds:
“As TON’s development is tied to the traffic generated by Telegram, the deep connection between TON and Telegram’s wallet and user base creates a significant dependency on the messaging platform. In turn, the regulatory risks associated with Telegram hang over the TON blockchain like a ‘Sword of Damocles.’"
As it stands, the blockchain is facing some serious regulatory challenges. Just this week, the U.K. announced the suspension of the Wallet app pending a decision from the Financial Conduct Authority on the matter. The application is what allows users to send and receive cryptocurrencies like Toncoin directly within Telegram.
Following news of Durov’s arrest, TON saw its value take a sharp downturn. According to Bitget, the blockchain should completely sever its ties with Telegram and put the messaging app in its past once and for all.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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