Crypto Funds Now Enabled On Telegram Through TON Blockchain – TheNewsCrypto

On Tuesday, Telegram introduced its collaboration with the TON foundation to allow crypto payments on their app. Now 550 million telegram customers can send and obtain Toncoins (TON) to their contacts. They can also buy bitcoin (BTC) through « @wallet » bot. The muse reported that it has now raised more than 572 million Toncoins, almost $1 billion, in its new reserve.

Fungibility is a time period from economics describing the interchangeability of merchandise/ items. As an illustration, an item such as a greenback bill is fungible when it’s interchangeable with another dollar invoice. Contrastingly, non-fungible means the item is unique or distinguishable. For example, if you take a dollar bill and have it signed by a well-known artist, it is going to grow to be distinctive.

The validator said that he used a 12-core machine (24 threads) with 128 GB of reminiscence and SSD disks to take part in the sport. Also experimented with a 32-core machine and 512 GB of reminiscence, however this didn’t result in a major enchancment in the results. Renting a server cost a mean of one hundred euros per thirty days, and on the time of the experiments up to 300 euros. The time spent is from 8 to forty hours per week. In his opinion, quite a bit was determined by the location of the server and the analysis of rivals – the closer the server is to the community core, the better the results. About the method itself, the validator responds as follows:

In simple phrases, there’s a computational puzzle in the PoW Giver contract at any given time. For resolving it you may get a hard and fast quantity of TON coins. Then a new problem is generated. The only method to resolve the challenge is to do the math work with a miner, which requires important computing sources.

A big benefit of Bitcoin is its lack of transaction fees. Because there are no nationwide or worldwide rules for Bitcoin, you possibly can transfer the digital currency into or out of any country with out the steep wire charges that banks and providers like Western Union charge. And because the system has no governing authority, your account has no limits and can never be frozen.

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