Telegram provide option for payments in Toncoin

Telegram offers users the option to make payments in Toncoin, a cryptocurrency boosted by Ton blockchain, for buying in-platform advertisements. Out of the total revenue generated, it will be sharing 50% of the amount with the founders of the public channels.

This is the newest user monetization initiative by the messaging application. The allocation of 50% received from payments against the advertisements flashed in public Telegram channels to their founders is an added facility. 

As per Telegram, users can further their channels via an insignificant amount of Toncoins. They will also have the right to select the channels of their choice for positioning their Ton-boosted advertisements.

Over and above that, the channel owners will be provided the option of taking out their rewards sans the requirement of any fees. This facility will be made available in the upcoming weeks on Telegram’s Fragment exchange, as per what was divulged by the company.

According to a statement issued by Telegram, they honed in on the Ton blockchain since it comes with less fees, accelerated transactions and keeps track of the number of transactions it can process over one second. Ton could have 100,000 transactions in a second as per a November 2023 test.

The CEO of Telegram, Pavel Durov, forwarded the information onto his channel in the previous month. Telegram channels rake in more than 1 trillion views, out of which only 10% of the channels have received monetization via Telegram advertisements till now, as per the information divulged by the CEO.

Durov added that this will create a noble cycle, providing content builders the option of cashing out their Toncoins and reinvesting them for furthering and scaling their channels if they so choose.

Telegram advertisements are unique since they are visible only in big public channels and not in chats, chat lists or any other interface. They do not depend on user data, except the channel where they are viewable, making it advantageous for channel owners.

The price of Toncoin increased to 2.32% within the last twenty-four hours itself, reaching the figure of $5.24.