
David
@dburgos777
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In a nutshell: The drop in TON, since last year's hype, is due to the foundation's inefficiency.
TON, the blockchain linked to Telegram, boomed with Mini Apps and "tap-to-earn" games. But since last year's peak, Toncoin has dropped 70 percent, from $25 billion to $7.3 billion.
Steve Yun, former head of the TON Foundation, blames Pavel Durov's arrest and a hype bubble that only lasted long enough for a selfie.
Although the ecosystem is still alive, not everything is rosy: the foundation is accused of nepotism, promoting apps like Blum while ignoring community-driven ones like Aqua Protocol or PocketFi.
Yun has admitted the problem and says democratizing the Telegram Wallet is key. TOP (The Open Platform) is developing it and promises more equality... in theory.
TON aims to take off again by betting on P2P payments, new programming languages (Tolk and Tact), and expansion in the US with Manuel Stotz at the helm. 0 reply
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