Telegram Takes Control of TON Blockchain, Drives Surge in Toncoin Price

Telegram, the messaging giant with over 900 million users, has officially taken control of the TON blockchain. This development marks a significant shift in the network's governance structure, with Telegram replacing the TON Foundation as its main operator.

The move was announced on May 4, and the market responded quickly, with Toncoin experiencing a 36% price surge within 24 hours. The cryptocurrency reached $1.80, its highest level in four months.

As the largest validator on the network, Telegram gains direct influence over block production and network governance. This has led to significant changes, including reduced transaction fees. According to Telegram, transaction fees have been slashed to approximately 0.00039 TON, which is about six times lower than previous levels.

This reduction in fees is expected to make micro-transactions more viable on the TON blockchain. However, some experts may be concerned about the concentration of power with a single entity, as Telegram becomes the largest validator and effectively controls the network.