Telegram: ICO - what's behind it?

It was probably the biggest crypto news at the beginning of 2018: Telegram, WhatsApp's biggest competitor, planned to develop its own cryptocurrency. However, this has already been abandoned.

A cryptocurrency of its own is expected to make Telegram not only the number one messenger.

Telegram: ICO was planned in record amounts

Telegram announced at the beginning of 2018 that it would launch its own cryptocurrency. Since then, few facts were known about this plan.

• The currency was to be called "Gram."
• The plan was to raise around $500 million with ICO. This would make the Telegram ICO by far the largest ICO ever.
• The ICO was originally to take place in two phases: First, the large investors should get their turn, receiving the best prices. After that, normal investors should also strike.
• The ambitions of the Telegram cryptocurrency were quite large. Thus, the network was to become a platform, similar to Ethereum, and enable numerous other applications.
• After various initial problems and hearings, however, Telegram has ultimately abandoned the cryptocurrency and the associated blockchain platform.

It is clear that the ICO of Telegram has caused a stir - simply because of the notoriety of Telegram. The high market capitalization from the beginning was perceived as a disadvantage from the investors' point of view, and as it turned out later, this was justified. The biggest expectation of investors was the linking of cryptocurrency with Messenger.