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TON Foundation X AMA Session With BeInCrypto

15 mins
Updated by Maria Petrova
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In an exclusive AMA session with BeInCrypto, we had the pleasure of hosting Ryan Dennis, the Director of Brand at the TON Foundation, for a deep dive into the fascinating world of Web3 and its integration within Telegram.

The discussion went into fascinating topics like TON‘s worldwide goal of using Telegram’s large user base to make cryptocurrency accessible to everyone, the revolutionary Wallet in Telegram feature, and the immense potential of TON’s blockchain technology.

Interview with Ryan Dennis from the TON Foundation

BIC: We’re getting ready for our AMA session with TON Foundation!

Today we welcome the Director of Brand in the Ton Foundation – Ryan Dennis 🙌 

I’ll have some questions for Ryan. After that, he will answer 5 questions from our members previously chosen. 

Ok, Ryan, let’s start with this point: We’re chatting on Telegram right now. And your entire Web3 ecosystem has been built within the messenger app. That means that we, BeInCrypto, are actually on your territory… Does it maybe even mean that we are your guests and not vice versa? 😂 Strange feeling. Anyway, I’d like to start by asking you to tell us some general info about your collaboration with Telegram & the growth of your ecosystem.

Ryan: Hi everyone, thank you for having me. A milestone for my career to be here with you today.  

We are integrated with Telegram, providing the blockchain infrastructure to bridge the gap between Web2 and Web3 and make digital ownership accessible to over 800 million users.  

Our approach involves creating and incubating easy-to-use Web3 solutions on Telegram’s Mini App platform. Notably the Wallet in Telegram, which is now rolling out in Telegram’s native settings menu globally for almost all Telegram users. Think about that…that’s a lot of blockchain wallets.  

My personal opinion is that this integration with Telegram makes crypto as easy as texting and TON unique in the blockchain space.

BIC: What is your global mission as a web3 project?

Ryan: Put simply: crypto in every pocket. TON blockchain is one of the world’s most scalable blockchains, which means that it’s uniquely positioned to accelerate the technology’s adoption. TON Foundation is one of the many companies supporting the growth of TON and TON-based protocols. That’s why our mission is to put cryptocurrency in every pocket by building a Web3 ecosystem within Telegram.  

We want to make the complexity of Web3 simple and introduce Telegram’s user base of 800 million users to the genuine ownership that comes with digital assets. This is about accessibility. Blockchain is for everyone, everywhere, not only for the technical geniuses.  

We are here to make blockchain usable for the average person. Our synergy with Telegram and scalable architecture means that we’re really the only blockchain that can achieve this.

BIC: And what methods are you willing to use to reach this goal?

Ryan: The shortest answer here is what you’re staring at right now: Telegram.  

We have the technology, projects, and Telegram as our platform and launchpad.  We just need to keep doing what we’re already doing. If you need a proof-of-concept for this, check out the Web3 mini-apps in Telegram that have already been established through the success of Notcoin, a highly successful Web3 game that attracted 20 million users in just 26 days. I mean, that’s a lot of users.  

And we can accomplish this because our technical foundation is robust. Certik verified TON as having world-leading transaction speed, made possible by its next-generation scalable architecture. 100,000 transactions per second. And if we are going to be realistic about reaching this goal, TON blockchain’s transaction fees are extremely low. This is what you need to serve hundreds of millions of people with a well-developed ecosystem growing across all aspects of Web3- from DeFi to GameFi to NFTs.

BIC: Ryan, tell us about TON recent projects released on the basis of Telegram.

Ryan: My favorite thing in the world right now, after my wife and children, of course, might just be clicking a stupid little button over and over again. If you haven’t heard, Notcoin, the super viral clicker coin-mining game, operates as a Telegram Mini App. Last time I checked, 4.1 million players joined within a week of its official launch and it currently has 25 million users. This makes it one of the most popular, if not the most popular, Web3 games in history and the world right now.  

More than anything, its success serves as a very obvious proof-of-concept for TON’s approach to mass adoption, I’m talking about simplicity, accessibility, and community engagement as key factors in digital product success. Also, I am obsessed with marketing and public relations, but it wasn’t even necessary here. Notcoin’s growth occurred organically, without advertising, relying solely on Telegram user engagement and ease of access. Word-of-mouth is still alive, everyone.

Notcoin’s popularity is lighthearted, but what is serious is its impact. It serves as a gateway to TON’s Ecosystem within Telegram. I’m not being hyperbolic when I say Notcoin is likely to become the biggest Web2-to-Web3 onboarding event in crypto history once the hotly anticipated token distribution takes place. Stay tuned.

BIC: I want to be honest… I became obsessed with this game 😂

Ryan: It would be weird if you weren’t obsessed, my friend. It’s too easy!

BIC: I tried it after exploring Telegram wallet — one of the most interesting TON-based features in Telegram is the crypto @Wallet. It’s a perfect onboarding tool for users to learn about crypto in a platform they’re familiar with. What are most people using @wallet for and why might those who are not very familiar with crypto start using @wallet?

Ryan: The first reason you should start using @Wallet is because it is the only wallet in crypto that is as easy as texting. The primary use case for Wallet, between their over 7 million users, is peer-to-peer payments.  

Go ahead in your telegram search bar and type @Wallet  

That’s how easy it is. compare that to other web3 wallets and tell me which is better suited for the future of our industry. Users can purchase crypto, store it in @Wallet, and then send it to family and friends worldwide, free of charge.  

Let’s admit it: Crypto has been super difficult to use, from day one. But not anymore. A lot of people are aware of crypto, yet their experience with trying crypto was unsuccessful because of its complexity. @Wallet can help them get their first assets in the most straightforward way – as quickly as texting their friends.  

The system behind @Wallet is incredibly user-friendly, facilitating seamless transactions across borders on a secure platform like Telegram, which is particularly beneficial in regions susceptible to inflation risks or lacking access to conventional banking services.  

We have noticed some traders are drawn to Wallet for arbitrage opportunities within the P2P market. However you want to use it, @Wallet serves as a gateway to other TON dApps within the ecosystem, eliminating the need for additional authentication services. Everything @Wallet can do is conveniently accessible via Telegram – and our mission is to give this power to 500 million people by 2028.

BIC: And what’s the difference between Wallet and TON Space?

Ryan: Wallet is a Telegram-native custodial service, allowing users to store cryptocurrencies like Toncoin.  

For those who don’t know, a custodial wallet functions similarly to a bank, with a third party managing the user’s funds. Users can deposit and withdraw assets without dealing with complex crypto elements like seed phrases. Yet, @Wallet simplifies crypto usage, providing a fully-fledged P2P platform and robust user support.  

Meanwhile, TON Space is a non-custodial service. With a non-custodial wallet, users can directly manage their own assets. TON Space grants users complete control over their Toncoin, collectibles, and jettons.  

TON Space users manage and own their assets directly within Telegram based on what you could call ‘Web3’s original principles,’ but with added features. Instead of solely relying on seed phrase backups, services like email backups ensure that we remain aligned with these ideals while prioritizing accessibility.

BIC: I’ve got one tricky question for you…

Telegram has an audience of 800 million around the world. And if anybody wants to create an app within Telegram, it will be built on TON. It looks like your collaboration with Telegram is an attempt to create a super app like WeChat. But it is known that the Chinese government has full access to the users’ information (due to their regulations). The technical requirement for the projects to work only based on TON may seem like your attempt to build a ‘monopoly.’ 

So I’ve got the next question: How can TON and Telegram guarantee user data privacy?

Ryan: That is such a good question and it’s fair to ask. As part of TON Foundation, I can’t speak specifically about Telegram, we are just partners and not the same company. 

Nonetheless, anyone familiar with the history of Telegram knows that it has always stood for data privacy, even when under intense scrutiny. Importantly, as TON is a blockchain, projects built on TON will be able to take advantage of the security benefits and transparency that the technology brings.

BIC: Ok, so if my phone number expires or my SIM card is stolen, will I permanently lose access to my Telegram wallet and TONs? 🤔

Ryan: This is where the importance of Fragment comes in. Fragment is Telegram’s new platform where you can purchase Telegram usernames, phone numbers, and profiles as TON-based NFTs using Toncoin. 

So no worries. These accounts are not linked to any SIM card. This ensures constant access to Telegram and TON independently from your SIM card status. Additionally, Telegram-based products like Wallet or TON Space provide options such as email backups. These backups enable you to restore your wallet account in case of any issues with your SIM card or Telegram account.

BIC: Can you delve deeper into the technical architecture of the TON blockchain? What are its unique features, and how do they compare to other blockchains?

Ryan: Okay, you want to get technical! 

I’ve worked with several industry-leading layer-1s in my career, but without a doubt, there is no comparison: TON’s architecture is next-generation. It has a unique dynamic sharding system that enables it to process millions of transactions per second, easily outpacing Ethereum and Solana. No shots fired — I respect both of their innovations, like fine art and great music.  

But TON isn’t just about volume or hype. Certik audited a live stream of TON’s speed test, and now we are officially the fastest blockchain in the world, processing 104,715 transactions per second – which is not only more than every other blockchain but more than both Visa and Mastercard combined. take a look for yourself: https://ton.org/analysis

BIC: Do you plan to expand the utilization of TON further and make it capable of running apps outside the Telegram ecosystem?

Ryan: Sure, TON was initially and is still envisioned as a blockchain of blockchains designed to serve as the foundational layer for a new, decentralized internet. Instead of trying to attract users with gimmicks and publicity stunts, TON strategically collaborated with Telegram, a platform already used by most crypto-conscious users.  

No blockchain has reached mass adoption yet, so we refuse to follow in their footsteps. We’ve been on a different dimension no one can compete with.

BIC: 🔥🔥🔥

Ryan:  By leveraging Telegram’s massive user base, projects based on TON can easily get seen by an audience of crypto-natives and the mainstream.

BIC: How is TON Foundation approaching regulatory compliance in different jurisdictions?

Ryan: We’re just a small part of The Open Network. True to the soul and spirit of TON is our core value of openness. So, we prioritize open communication about our operations and relationships, which is why you hear me clarifying that while we collaborate with Telegram, TON is a separate entity.  

The majority of TON-based protocols geofence (or geographically prevent) access to their products to ensure compliance with regulations worldwide. For instance, @Wallet isn’t being rolled out in the Telegram settings menu for U.S. users. As someone who was born in New York City, I do love the United States of America, yet geofencing the US isn’t a significant loss, considering that our primary audience mirrors that of Telegram’s user base, which predominantly resides outside the US.

BIC: And what are your strategies for driving mainstream adoption of TON and its ecosystem?

Ryan: Our plan is simple. Literally. Our strategy is to stay focused on simplicity, simplicity, and simplicity.  

Consider the challenges of making Tronlink or Metamask wallets for new users. For them, it’s like doing your taxes while experiencing a migraine, time-consuming and painful. Our approach with Telegram Mini Apps is a complete game changer. We talk about this daily. Everything we do needs to be made simple and accessible for an active and engaged audience. Our vision of using Telegram Mini Apps to build a Web3 ecosystem in Telegram is a recipe for success.

BIC: Ok, now let’s talk about your future projects planned for the 2024 😏

Ryan: Future projects are for the future, and I don’t want to cheat and reveal too much! However, because I like you, I’ll give you an idea. I personally believe 2024 will be our break-out year.  

We’re going to be making some big plays and disrupting some big players as we look to deepen our integration with Telegram and make the experience of Telegram-based Web3 even more intuitive – we can’t share many of the specifics at this point, but stay tuned because new things are happening every day.  

For example, just today, Telegram founder Pavel Durov said that Telegram will share ad revenue with users starting in March. Channel owners will receive 50% of ad revenue, with payments settled on the TON blockchain.  This is really happening. We really do this. And we’re doing it all for the better of humanity and the future of blockchain.

BIC: Cool! Ryan, it’s time for the questions from our Community 😎 

Interesting question from @BonitaLozano:

Can you elaborate on the selection process and criteria for the 12 projects admitted to the TON Acceleration Program in Asia, and what specific areas of focus will the 10-week curriculum cover for these projects?

Ryan: Ah! Great question, @bonitalozano! and congrats on having your question selected!  

TON Foundation’s accelerator team is optimistic. optimistic about the incredible mini-apps. also about the games that are innovating on Telegram’s newest and most critical features.  

The selection process was very stringent and challenging for everyone involved yet we ultimately supported developers who are taking advantage of all emerging tech from blockchain to AI. Empowering their ideas into products integrated with Web3 will result in features that will truly serve human society at large.  

The TON Acceleration Program in Asia selects projects based on several key areas, focusing on early-stage projects within DeFi, Social, Games, and Marketplace segments, such as e-commerce platforms.  

Also essential to our selection are proven team experience, the readiness of the product (requiring at least an MVP operational on TON) , a clear value proposition, and a deep understanding and alignment with the TON ecosystem. Over our 10-week curriculum, we delve deeply into areas crucial for early-stage project success.  

The program culminates in preparation for Demo Day, offering projects a platform to showcase their progress, first at TON Bootcamp & Future3 Ecosystem in Singapore on March 13th  with Du Yu, GM of Wanxiang Blockchain, followed by another Demo Day in Hong Kong during the Future3 Festival.  

As you can tell, I’m excited. We’ve worked really hard on this because early-stage products become the corporations that may save us in the future.

BIC: @AikoLovely5 asks:

Regarding the Notcoin game, what are the goals this year to ensure that millions of users who have joined continue to do so? Do you have plans to create some interoperability with other blockchains to attract even more users? Did you expect so much success in such a short time?

Ryan: I could talk about Notcoin all day @aikolovely5! Thanks for the question and congrats on having your question picked!!  

Well, the first thing to say is that the Notcoin team has always said the project is probably nothing. I’m sure there is a plan of some sort, but I can’t speak to the plans of the Open Builders team. 

Having said that, I am confident that the success of this Notcoin will lead to one of the biggest events in crypto history. When the token mint occurs, I expect it’s going to be a huge deal. We might be looking at the start of an entirely new approach to launching products on the blockchain.  

With regards to expected success, well, at TON, we’ve always recognized something special in these Telegram Mini Apps. While not everyone might have predicted Notcoin hitting over 25 million, we all had a sense that it was only a matter of time before one of these TON-Telegram projects made a big impact like this. It’s not a coincidence.

BIC: The 3d one – @hauzf:

What sets TON apart from other blockchains, and how does it stand out in terms of functionality and user experience? Could you provide insights into TON’s unique attributes compared to other blockchain platforms?

Ryan: Congratulations on having your questions picked!! Thanks so much for the great question. It’s a good one  

We’ve touched on this topic before, but I want to stress how TON stands out from other blockchains because of our partnership with Telegram — it really, really sets us apart from all other blockchains in a meaningful way today and in the future.  

No other blockchain has a collaboration with giants like Meta, Apple, or Google to this degree — TON is in a league of its own here. Telegram is twice the size of Twitter/X. 

I’ll skip the technical jargon, but it’s key to mention that TON’s infrastructure is robust enough for the mass adoption of blockchain technology. Faster than fast blockchains, more affordable, and with Telegram, now the most accessible.  

And TON is bringing all the innovations of Web3, which I’m sure all of you listening here today are already incredibly familiar with, to Web2 users in a genuinely accessible way for the first time.  

While we can boast about being the fastest chain with low transaction costs all day long — our defining feature is our focus on a truly intuitive and accessible user experience. With TON in Telegram, crypto is easier than texting, and a lot more fun!

BIC: @hana12875:

TON has the potential to redefine payment infrastructure. Could you discuss how TON’s speed and scalability can streamline financial transactions, reduce costs, and promote financial inclusivity, particularly in remittances and e-commerce?

Ryan: Thanks for the question, @hana12875 and congrats!!! 

In 2024, blockchain payments need to be fast and scalable in order to provide value for any financial environment. I talked about this a bit earlier, yet happy to reinterpret this. TON blockchain can be dynamically sharded based on the network’s load. If the number of transactions becomes too high, it splits in half into two “shardchains.”  

If one of the halves becomes overloaded later, it is also split in half, and so on. This is how we broke the transaction speed record for blockchains at over 100,000 transactions per second, validated by a third-party analysis firm named CertiK. 

Wallet in Telegram is currently TON’s leading product in this sphere. As I already mentioned, many users widely use it for peer-to-peer transactions and remittances.  

It offers free transfers between Telegram contacts and a self-custodial option through TON Space, along with robust on- and off-ramp systems. We have all the infrastructure there, waiting and ready for Telegram’s over 800 million users.  

BTW, TON is also expanding beyond user-to-user transactions. We’re actively developing e-commerce capabilities. The Wallet Pay program, for example, enables vendors to sell goods for crypto directly within Telegram, a segment that’s becoming increasingly popular in TON.

BIC: @Engm4 asks:

The TON Society sounds like a vibrant community of passionate people. What are some of the long-term goals that the TON Society is working towards? And how can someone like me, who’s interested in getting involved, get started and contribute to the community?

Ryan: @engm4, excellent question, my friend!  

TON Society is TON’s very own on-chain social network that brings together TON enthusiasts from all over the ecosystem.  

You could say TON Society also acts as an infrastructure for The Open League, our new initiative designed to reward the community for using the best TON projects. It’s really easy to go to the TON Society website and create your profile, and TS is also constantly organizing in-person meetings worldwide in specific regions.  

Here it is btw: https://society.ton.org/  

TS is open to everyone passionate about crypto, regardless of skill level. It unlocks exclusive access, opportunities, and benefits within TON. There are lots of different society chats for dedicated countries and languages. Name a region, we’re probably there or need you to build it with us. These regional hubs are independent teams aimed at deepening partnerships and supporting local enthusiasts. 

The ultimate long-term goals for TON Society is to provide everyone with decentralized digital identities and act as TON’s mass social infrastructure as a DAO.  

More on that to come…

BIC: Great! Thank you very much for having time today!

Ryan: It’s been my pleasure! I love BeInCrypto sincerely and have been a fan of yours for years.  What an amazing community you have here.

Final thoughts: TON’s impact in Web3

Wrapping up our conversation with Ryan Dennis from the TON Foundation, it’s evident that TON is a forward-thinking organization with big plans to change the way we deal with digital assets.

With the help of Telegram, TON is lowering the threshold for Web3 adoption, which means that users will have an easier, more accessible, and, most importantly, fun time using the blockchain.

Projects like the Notcoin game and the Telegram Wallet have gone viral, highlighting TON’s innovative approach to accessibility, ease of use, and community involvement.

It is evident that TON’s journey is one to be closely watched as we anticipate the thrilling developments Ryan hinted at for 2024. The future of digital ownership and financial transactions is in capable hands, and their commitment to making crypto as easy as texting could be the catalyst for blockchain’s leap into mainstream acceptance.

Top crypto projects in the US | April 2024

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