The founder of Telegram, Pavel Durov, announced the launch of "the largest non-custodial cryptocurrency wallet deployment in human history," scheduled for this summer. This event promises to be a significant step in the development of cryptocurrencies and blockchain technologies.
What is a Non-Custodial Cryptocurrency Wallet?
It should be noted that access to a non-custodial wallet will be exclusively held by its owner. This means that all responsibility for the safety of funds lies with them, as all keys will be under their control. This approach gives users complete control over their finances but also requires them to be particularly vigilant and careful about the security of their keys.
Advantages of the New Cryptocurrency Wallet
Durov stated that the new cryptocurrency wallet, named Gram, will be integrated into every Telegram application. This means that over one billion users of the messenger will be able to make instant cryptocurrency transactions without any fees. Such functionality could significantly simplify the process of using cryptocurrencies and attract new users looking to enter the world of digital assets.
The Gram Token and Its Market Impact
According to reports, the Toncoin (TON) token has been renamed to Gram (GRAM). Following the announcement of the cryptocurrency wallet launch, the price of Gram on trading platforms increased by nearly 30%, as reported by "Kommersant." This indicates a high level of interest from investors and users in the new product from Telegram.
Comparison with Existing Solutions
Currently, Telegram already has a cryptocurrency wallet called Wallet; however, it is a third-party project and is not associated with the messenger's development team. Durov did not specify how the emergence of the proprietary wallet would affect the Wallet, but it can be assumed that integrating the new solution into the messenger will create a more convenient and secure experience for users.
Legislative Changes
On July 21, the State Duma of the Russian Federation passed the law "On Digital Currencies and Digital Rights" in the second and third readings. This law creates a legal framework for the legal use of cryptocurrencies both in Russia and in international trade. It is expected to come into force on September 1, which could further stimulate the market and promote the popularity of cryptocurrencies among users.
Conclusion
The launch of the non-custodial cryptocurrency wallet Gram in Telegram opens new horizons for cryptocurrency users. Integration into the messenger, absence of fees, and a high degree of control over their funds make this product attractive to a wide audience. Considering the upcoming changes in legislation, it can be expected that interest in cryptocurrencies will only grow, creating new opportunities for investing and using digital assets.