Pavel Durov to Develop Decentralized Cryptocurrency Tools

Pavel Durov, the founder of Telegram, has announced plans to create a set of decentralized tools for secure cryptocurrency trading and storage. He intends to leverage his experience with the Fragment platform to achieve this goal.

“The blockchain industry was built on the promise of decentralization, but in the end, it became concentrated in the hands of a few people who started abusing their power,” Durov stated.

Fragment Platform and Its Success

At the end of October, Telegram launched Fragment, a platform for selling Telegram usernames using Toncoin (TON) tokens. Durov described Fragment as a fully decentralized auction platform based on the Open Network (TON). In less than a month, usernames worth $50 million were sold on the platform.

Future Plans: Decentralized Exchanges and Wallets

Pavel Durov revealed that Telegram is working on a suite of decentralized tools, including non-custodial wallets and decentralized exchanges, to enable millions of people to trade and store cryptocurrencies securely. He assured that with technologies like TON reaching their potential, “the blockchain industry can fulfill its core mission—returning power to the people.”

Source

Onion Market — a free peer-to-peer exchange on Telegram. We offer XMR, BTC, and USDT.TRC20.