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Minter, a blockchain network originating from the largest Russian-speaking crypto Telegram community DeCenter, has announced its integration with Telegram Open Network (TON), the project founded by Pavel Durov, the creator of the messenger app Telegram.
The Minter blockchain would allow you to create your own coin and transfer it or exchange it for all of the other coins issued in the network—as well as Bitcoin, Ether, and even USD. All transactions are processed every five seconds, eliminating all the waiting time for your transaction to be confirmed.
Minter Integrates with TON
Participants of the Early Access Campaign run by Minter, the first blockchain project to ever integrate with the TON network, can already pass the KYC procedure via Telegram Passport.
Telegram Passport is aimed at providing user identity verification. Minter became the first blockchain project to fully incorporate the service for identifying its investors—a fact Telegram highlighted on its official blog. Thanks to Telegram Passport, completion of the KYC procedure takes only a few minutes. And that’s just the beginning.
In the course of integration, Minter will enable its users to transfer any coin issued in the network to the TON blockchain. Besides, the coin transfer feature will let Minter use smart contracts of the TON.
The TON Payments service will allow users to send and receive micropayments in Minter-based coins using the Lightning Network. It will be very useful for services that have to often transact in small amounts (for instance, an ad service charging for each view).
Minter will also become the world’s first-ever project to reach the exchangeability of its native digital coin and TON’s base coin, GRAM. Thanks to the instant and absolute liquidity, the same opportunity will be available for all of the other coins launched on Minter.
The Minter Network
Back in January this year, Minter successfully deployed their testnet. The Minter blockchain would allow you to create your own custom coin and set its price. Minter has already developed their console, a Telegram bot wallet, and iOS/Android wallets, allowing their users to send coins from any device.
Users then have the power to transfer it or exchange it for all of the other coins issued on the network. All coins can be traded for one another and also for Bitcoin and Ether—near instantly. In 2019, Minter users will also be able to exchange their coins to USD and GRAM (once the integration with TON is completed).
Transactions on the Minter network are processed every five seconds, removing all need to wait, while the DPoS consensus algorithm ensures high reliability. This means that both validators and delegators will profit from maintaining the network.
One of the biggest issues of blockchains is that the transactions often cost users a lot of money. Transactions on the Minter blockchain cost less than $0.01, which might just be the push that cryptocurrencies need to embrace mass adoption.
There would also be an extensive choice of applications powered by the Minter blockchain, ranging from wallets and the console to full-fledged cryptocurrency exchanges and other exchange services.
After the official launch, Minter plans to hold the largest airdrop in Telegram’s history—in total, users will receive almost 1,000 BTC worth of BIP and other Minter-issued coins. The opportunity to participate and get bonuses is available only to users who sign up before October 31, 2018.