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Telegram proposes a new username system based on NFT for its 700,000,000 Users

Telegram proposes a new username system based on NFT for its 700,000,000 Users

In order to protect Telegram members from getting hacked, the founder and CEO are proposing a decentralized marketplace for usernames and handles.

Pavel Durov, the creator of Telegram, mentioned a giveaway for a blockchain-based domain and wallet name auction where the creator has successfully generated interest in people.

The Telegram CEO said that due to its large user base, Telegram has an edge over its competitors in long-term success for a marketplace for highly sought-after usernames and addresses.

One of the main goals behind Telegram Open Network is to provide new, unique addresses on a market, which will come in handy for those who need a catchy username or want to use one for their business or idea.

TON, founded by Pavel Durov and Nikolai Durov, was developed to be a scalable and customizable blockchain solution. TON is now being developed by the TON Foundation, a community of developers that are open-source.

The envisioned platform for auctioning Telegram usernames and addresses would tokenize digital assets so that they may be easily traded. This bears a similarity to how non-fungible tokens work.

With a new platform, Telegram could have users transfer their username ownership to interested parties in safe, smart-contract agreements. The new platform can also let other elements like channels and stickers be traded on the market.

Telegram’s blockchain, The Open Network, is the best-suited solution to host the proposed Telegram marketplace for key performance metrics.

The team at TON can host the scalability and speed needed to create a successful, decentralized marketplace. As they were the inventors of the underlying blockchain language in TON, it is likely we will use this technology in our future marketplace.

“Telegram might be the one to bring Web 3.0 use cases to the masses in the coming weeks” concluded Durov.

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