Telegram Creator Pavel Durov Says His Blockchain Is 'Years Ahead Of Everything Else'

Pavel Durov, who created major messaging application Telegram and Russian social network V, claims the technology derived from his Telegram Open Network cryptocurrency project is "still years ahead of everything else in the blockchain realm."

What Happened: In a Thursday post, Durov said he's glad that his crypto project Toncoin TONCOIN/USD continued after Telegram was forced to abandon it by the U.S. Securities and Exchange Commission. Durov wrote he is "proud that the technology we created is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain realm."

Telegram was forced to shut down by the SEC in May 2020 claiming the tokens of the project would conflict with the securities regulation. At the time Durov wrote the system "was designed to share the principles of decentralization pioneered by Bitcoin and Ethereum, but to be vastly superior to them in speed and scalability."

Durov explained that, unlike the original Telegram Open Network, Toncoin is completely independent of Telegram but he wishes the project succeeds and believes that "coupled with the right go-to-market strategy, they have all they need to build something epic."

Photo by Dima Solomin on Unsplash