Recently one can see a new trend among the investors and that is to make investments in different Blockchain projects. Early this year, the investors laid their hands on one of the top messaging operator – The Telegram. It eventually raised more than a billion dollars, in a bid to start its very own Blockchain. Very recently, the company has released a status update on the development of TON (Telegram Open Network). Though the matter was reported by a section of Russian Media, the circular was never published. There are many aspects of the project, which are around 90 percent complete.
Investment In Blockchain Projects – A lucrative business
Though the Blockchain project is overall 70 percent complete, it is impossible to predict now, as to how well it will work, when it goes live. One thing is certain, that TON will host many other cryptocurrency applications on its network. TON Virtual machine, which is an essential component needed for execution of smart contracts is supposed to be fully tested. However, the software development for block generation and validation is still much farther away. The validator software is just 10 percent complete. However, it must be born in mind that, that a big difference exists between what is there on paper and the actual world, the block crypto reported.
Blockchain projects are used for different purposes. Recently, in South Korea, Blockchain technology is being used to track beef. Blockchain has found importance with the South Korean government. The Government has earmarked a huge amount in the budget of 2019, in eight critical sectors that include Blockchain, Big Data and Artificial Intelligence. The technology is seen as having the potential to transform the world. Blockchain technology is even used in the country to pay out insurance claims. Blockchain technology now features in the syllabus of recently introduced courses in South Korea, according to a report by CCN.
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