Telegram, a messaging app, revealed on Sunday that users may use Toncoin, the native cryptocurrency of the TON blockchain, to buy in-app advertisements.
As part of its aim to monetize its users, Telegram has released an upgrade. This will cause the app to start paying out half of the money from ads seen on public channels to the people who own those channels.
The qualities of TON, such as its record capacity for transactions per second, processing speeds, and minimum transaction costs, led Telegram to choose it.
One community-driven option for enabling fast transactions and supporting decentralized apps (dApps) is the TON (Open Network) blockchain. Its sharding feature allows for millions of transactions per second and is based on the Proof-of-Stake (PoS) consensus method.
Sharding is a technique that maximizes network speed and minimizes transaction delays by dividing data storage and processing chores across smaller groups of validators.
According to blockchain security company Certik, the TON blockchain processed an impressive 104,715 transactions per second in October 2023, making it the fastest network in the world. This network outperformed well-established payment systems such as Solana, Polygon, Visa, and Mastercard.
The CEO of Telegram, Pavel Durov, dropped hints in February about the debut of the Telegram Ad Platform, which would target marketers in almost 100 countries. Noting that Telegram’s broadcast channels get 1 trillion monthly views, he emphasized the platform’s potential.
The goal of the new Telegram Ads platform is to increase revenue from its current meager 10%, despite this reach.
More efficient content monetization is now within the reach of channel owners, according to the most recent announcement. It also puts Telegram in the same league as other social media behemoths that provide user-shared income models, such as YouTube and X.
Users may now begin advertising bots and channels on the popular chat network for as little as “a couple of Toncoins.”
The fact that advertisers may choose which channels their commercials will run on means that they have complete control over the placement of their ads.
Telegram gives channel owners a lot of perks to encourage them to create content and use the network. So, first, they may get their hands on the money from the ads without paying anything. Second, they may choose to put their revenues back into the Telegram ecosystem in a variety of ways, such as by buying more unique usernames, advertising, or organizing giveaways of premium content.
Monday saw the latest price of Toncoin at about $5.24, reflecting a 123% increase in the preceding 30 days.
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