Author: Joyce, BlockBeats

Editor: Jack, BlockBeats

On September 13th, the TON Foundation announced that it will launch TON Space, a self-managed digital wallet based on Telegram, globally in November. However, the service will not be available in the United States and some other countries.

After the Telegram Bot craze this year, Telegram has been seen as a testing ground for the promotion of Web3. A month ago, Pavel Durov, founder and CEO of Telegram, stated in the Telegram 10th anniversary letter that "Telegram's next step is to go beyond information transmission and lead the innovation of social media. Although the past 10 years have been exciting, the next 10 years will be when Telegram truly unleashes its potential."

Related reading: "Social and Crypto, Telegram's Next Decade".

Recently at the TOKEN2049 conference, Steve Yun from the TON Foundation and John Hyman from Telegram announced the seamless integration of Wallet into Telegram, allowing direct access to Wallet from the Telegram menu.

The encrypted wallet TON Space, which is built into Wallet and seamlessly integrated with Telegram, has been referred to by the TON team as "a huge milestone for the entire TON ecosystem". Telegram will only integrate with TON, and its 800 million users will become potential users of TON Space.

TON Space Interaction

Currently, Telegram users can access TON Space through the Wallet in the settings interface.

According to the team, all users of TON Space can seamlessly connect their Telegram accounts to various TON-based Web3 applications. TON Space will act as a blockchain account, fully supporting the TON ecosystem, including Toncoin, Jettons, and Collectibles. Currently, users can directly connect to TON Space from TON-based dApps.

By default, all users will enable TON Space. Users can set up a new TON wallet or import an existing account from Tonkeeper, Tonhub, or any other non-custodial wallet. TON Space also provides account recovery options for users, allowing them to regain access to TON Space using their email and Telegram accounts.

According to the team, the TON Space official version is expected to launch in November in countries other than the United States, and will support staking and exchange in applications within the TON ecosystem. In the future, there are plans to support multiple addresses integrated into TON Space for users to manage multiple accounts simultaneously. Additionally, TON is exploring the direct transfer of collectibles to contacts via Telegram usernames to provide a user-friendly and seamless experience.

TON Space account provides self-hosting service, and third parties cannot access users' assets, which can ensure a certain level of security. TON Space is built into the Wallet after it goes online, and the built-in non-custodial wallet does not require the introduction of third-party payment settlement platforms. This not only avoids the risk of jumping to other platforms for transactions, but also enhances the encrypted financial attributes of the Telegram platform itself.

Telegram's New Encryption Strategy

In the official team's introduction to TON Space, it is stated that "existing over 2.5 million wallet users can safely manage and store their digital assets in Telegram." The TON Foundation expects to have 30% of Telegram's active users join TON by 2028, with a projected 500 million people conducting cryptocurrency transactions on Telegram at that time.

Twitter user jeyy.ton (@0xRunchen) said, "The launch of TONSpace will overturn everyone's understanding of public chains. This will be the first true massive adoption on the blockchain, an entry point for over 1 billion users integrated into high-frequency applications."

This strong confidence is not difficult to understand. Halil Mirakhmed, the Chief Operating Officer of Wallet, the team behind TON Space, said when talking about Signal, a competing encrypted chat application that also has a cryptocurrency payment solution, "Signal does not have a platform or community for social interaction and discussion of cryptocurrencies in its application. Because it is end-to-end, there is no ability to create a community."

Active Web3 users on Telegram have gradually experienced the complete Web3 ecosystem on Telegram, from communicating through Telegram communities, to purchasing and trading tokens through TG Bots, to participating in projects built on TON using TON Space. This showcases the potential of mobile Web3 and suggests that Telegram, with its 800 million active users, has unique advantages in the expected Web3 mass adoption. With active crypto communities, popular TG Bots, and seamless integration with wallet accounts on TON Space, Telegram has the potential to become the WeChat of the Web3 field.

Related reading: "Exploring whether Ton can make Telegram the WeChat of the Web3 field through TG Bot".

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