Pavel Durov, the founder of Telegram, has proposed to use smart contracts similar to NFT, so that popular and popular usernames of Telegram can be auctioned and by using blockchain features, their purchase and sale can be done in a secure market.
According to Mihan Blockchain and quoted by Cointelegraph, Pavel Durov, the founder of Telegram, has put forward the idea of a market in his personal channel in Telegram, which can be “Smart contracts similar to NFTs» Use very popular usernames for auction. He wrote:
Imagine how successful Telegram with its 700 million users can be in auctioning group names and channel links.
Where did the idea of username market in Telegram come from?
Durov made this proposal after the successful auction of the domain names of the TON network (layer 1 blockchain originally designed by the Telegram team). The TON Blockchain Project launched the TON DNS service, which allows users to assign human-readable names to cryptocurrency wallets, smart contracts, and websites. In this respect, it is very similar to Ethereum’s ENS service.
The first auctions on TON DNS started on July 30 (8 August) and like the Ethereum Name Service (ENS) “.eth” domains, “.ton” domains allow users in a simple way without having to type a long string of letters and numbers from their wallet address to access decentralized applications.
Durov suggested that Telegram could use similar technology to launch a new marketplace that could be used to buy and sell “Catchy t.me addresses like @storm or @royal and four-letter usernames” to be used. He said:
This creates a new platform where username holders can transfer their username to interested parties by securing ownership on the blockchain (via NFT-like smart contracts) in protected and secure transactions.
He added that other elements of the Telegram ecosystem, including channels, stickers or emojis, can also become part of this market later.
Telegram uses smart contracts
The TON network uses the FunC programming language for the TON virtual machine and for running specific smart contracts on the blockchain. If Telegram is to launch NFTs, it will most likely do so based on this standard.
Our team can write impenetrable smart contracts for TON (because we invented its smart contract language). So we tend to try TON as the underlying blockchain for our future market.
The TON network uses a Proof of Stake (PoS) consensus mechanism and supports various features such as staking, NFT, and decentralized applications. The main asset Toncoin (TON) has gained 14.7% over the past 24 hours to $1.33 at the time of writing.
- What technology does Telegram use to auction usernames?
Telegram plans to auction popular usernames using blockchain technology and smart contracts similar to NFT.