The CEO of Telegram took to his Telegram and published a post regarding their intentions.
Hinting at the recent collapse of a prominent crypto exchange, the founder and CEO of Telegram, Pavel Durov, announced their intentions to build a set of decentralized tools, including a decentralized exchange (DEX) and non-custodial wallets. Urging upon the need to decentralize due to the recent incidents, Durov further stressed the importance of users not relying on any single intermediary.
“We, developers, should steer the blockchain industry away from centralization by building fast and easy-to-use decentralized applications for the masses. Such projects are finally feasible today” stated Durov. He further explained in detail about the decentralized auction platform, Fragment. Durov said that the platform is based on the The Open Network (TON), which is much more efficient and faster than legacy platforms such as Ethereum. Built in only five weeks with five people, as claimed by Durov, Fragment had supposedly sold more than $50 million of usernames already.
His post also announced Telegram’s plans to build decentralized applications to help the world move away from excessive centralization. Pavel Durov concluded by mentioning a decisive goal for the blockchain industry, to empower people and give them their power and autonomy back through technologies like TON.