Telegram is rapidly growing its user base, aiming to reach 1 billion active users this year. With 950 million active users already, the messaging app has seen significant adoption and shows no signs of slowing down. This expansion is accompanied by the company’s plans to launch an app store and an in-app browser that supports web3 pages.
The push towards web3 technology is an interesting development for Telegram. While the company has been supportive of cryptocurrency and blockchain initiatives for some time, its own efforts in this space have faced setbacks. After a failed initial coin offering in 2018, Telegram’s progress in entering the cryptocurrency world slowed down. However, in December 2022, the company started auctioning usernames on the TON blockchain, signaling a renewed interest.
Telegram has since focused on enabling developers to build mini-apps and games that utilize cryptocurrency for transactions. Additionally, the company has introduced a revenue-sharing model with channel owners, distributing toncoin as a token on the TON blockchain. This move not only incentivizes content creators but also creates opportunities for cryptocurrency trading within the platform.
Despite these positive developments, Telegram has faced challenges with scams and fraudulent activities. Since November 2023, scammers have targeted users to steal toncoins. To address this issue, Telegram’s founder Pavel Durov announced measures to mitigate such scams. The company plans to display the month of registration and principal country for public accounts, similar to Instagram. Furthermore, Telegram will allow organizations to use their mini-apps to issue labels for channels, creating a decentralized marketplace for third-party verification.
Overall, Telegram’s growth and expansion into web3 technology highlight its commitment to innovation and its desire to provide users with a secure and decentralized messaging experience. As the company continues to enhance its features and address security concerns, it is well-positioned to reach its goal of 1 billion users and become profitable in the near future.
