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Steve Yun: Telegram’s Decision to Prioritize TON Over Other Blockchains Was the Right Move

Steve Yun Supports Telegram’s Exclusive Adoption of TON Blockchain Telegram’s decision to prioritize The Open Network (TON) as its sole blockchain for Web3 services was the right move , according to TON Foundation President Steve Yun . Speaking to Cointelegraph , Yun emphasized that this choice was not a limitation but a necessity , given TON’s ability to handle Telegram’s massive user base of 950 million . In January 2024 , Telegram announced that TON would be the exclusive network for its Mini Apps , sparking mixed reactions from the crypto community. However, Yun defended the move, arguing that blockchains without sharding lack the scalability for mass adoption and that alternative solutions often compromise security . Why Did Telegram Choose TON as Its Exclusive Blockchain? 1. Security & Scalability for 950 Million Users TON uses sharding , allowing it to handle Telegram’s large-scale transactions efficiently. Other blockchains may struggle with congestion and higher transaction costs . 2. Mass Adoption Requires High-Performance Blockchain Infrastructure Telegram aims to make Web3 services user-friendly . TON’s architecture ensures faster transaction speeds and lower fees . 3. Telegram’s Long-Term Vision for Blockchain Integration Originally developed by Telegram , TON aligns with its Web3 strategy . TON-based Mini Apps will offer decentralized services to millions of Telegram users. Will Telegram’s TON Exclusivity Impact the Broader Crypto Ecosystem? Bullish for TON: Telegram’s endorsement boosts TON’s credibility and adoption . More developers may build on TON , leading to a stronger ecosystem . Increased use cases for TON-based payments, gaming, and social apps . Concerns & Criticism: Some developers worry about Telegram limiting blockchain choices . Other Layer 1 blockchains could lose potential integration opportunities. Regulatory scrutiny may increase as TON’s influence grows. Despite making TON the default blockchain for Mini Apps , Telegram bots will continue to support multiple blockchains , ensuring some level of interoperability. Conclusion Steve Yun’s defense of Telegram’s exclusive TON adoption highlights its strategic importance for scalability, security, and mass adoption . While the move has sparked debate , it positions TON as a major player in the Web3 ecosystem , potentially accelerating crypto adoption among Telegram’s 950 million users . As TON’s integration deepens, its long-term success will depend on user adoption, developer support, and regulatory clarity . To learn more about the latest innovations shaping the crypto industry, explore our article on key blockchain developments and their impact on global adoption. Crypto Potato

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Crypto.com Plans CRO Spot ETF Launch and New Financial Products in 2025

The post Crypto.com Plans CRO Spot ETF Launch and New Financial Products in 2025 appeared first on Coinpedia Fintech News Crypto.com is making big moves to bridge the gap between traditional finance and the cryptocurrency world. The company plans to introduce a range of new services in 2025, signaling its ambition to become a major player in both crypto and traditional finance. Among the new offerings are the launch of a Cronos (CRO) spot ETF, the release of its own stablecoin in the third quarter, and the addition of stock, options, and ETF trading in the first quarter. These developments are set to reshape the financial landscape for users seeking a more integrated approach to managing their money. Already known for its crypto exchange, Visa card, and mobile app, Crypto.com is now expanding its offerings to include banking services, allowing users to open multi-currency personal accounts and cash savings accounts. This move challenges traditional banks by providing an alternative way to manage finances. The company is also making strides in Europe, with a European headquarters established in Dublin and licenses obtained in Italy and Greece for virtual asset services. As the company enters new markets, it is well-positioned to become a comprehensive financial platform, offering both traditional and crypto asset trading. Crypto.com’s technological advancements are also noteworthy, including the development of Cronos zkEVM, a scaling solution that promises faster and cheaper transactions. With its innovative approach and growing product lineup, Crypto.com is setting the stage for growth, potentially boosting the value of CRO, its native token, in the near future. Crypto Potato