On June 20, a lot of information appeared about Libra, the cryptocurrency project of Mark Zuckerberg and Facebook. Moreover, let’s not forget that there is Pavel Durov’s TON crypto project at the beta testing stage. Interesting, but it seems that the competition between former social network developers continues…
Cryptocurrency race: Libra vs. TON
A few months ago, the public testing of Pavel Durov’s TON (Telegram Open Network) cryptocurrency platform began. At the same time, Mark Zuckerberg started working on the Libra cryptocurrency payment system, which should come out by early 2020.
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Carefully looking at this situation, one can clearly see that the competition between Zuckerberg and Durov (which began 13 years ago) did not disappear. It was only heating up. At the same time, the "handwriting" of both creators is evident.
For example, Libra cryptocurrency platform, according to its press release, will be decentralized only in theory. In practice, it is an asset controlled by the states and the Facebook monopoly. In turn, the main concept of the Telegram Open Network is high anonymity, scalability, and wide platform functionality.
Another difference is the target audience. Facebook’s cryptocurrency is intended to become a global financial instrument and actively uses advertising. TON is exactly the opposite. The Telegram Open Network cryptocurrency platform is a more closed environment with high prices (if you recall the past of ICO) and extreme secrecy of development.
The public is going to find out which option is more effective only after the launch of the projects, which, by the way, is happening soon. Zuckerberg's cryptocurrency should appear no later than in the second quarter of 2020. Durov’s project will start on October 31 of this year.
The race of new cryptocurrency projects from Durov and Zuckerberg. Let us remind you that earlier it was reported that at the early stages of investing, Zuckerberg attracted nearly $1 billion for its stable cryptocurrency. Fake tokens from Durov were going to be sold on one of the little-known exchanges.
Editor: Pereyidenko Ihor