Durov has difficulties with a blockchain project

The TON (Telegram open network) blockchain platform is not yet ready for work, and one month remains before its launch. Durov’s team promises $ 400 thousand to a developer who will help create smart contracts for TON.

Work on the project is still far from complete, according to developers who have been testing a new product from the Durov’s team since early September.

If Telegram cannot launch a working blockchain network by October 31, 2019, Pavel and Nikolai Durov will have to return $ 1.7 billion to investors. This week, Telegram announced an open competition for developers of smart contracts.

Smart contracts or digital contracts on the blockchain should provide different practical functions of the new platform. Deadline of the competition is October 16, the winner will receive from 200 to 400 thousand dollars.

Investors who invested in TON are not aware of the details of the project and some of them already express dissatisfaction with the Durovs work style. Earlier, the creators of TON convinced investors that their network would process transactions much faster than the most common Bitcoin and Ethereum blockchains.

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The Gram cryptocurrency is created based on the TON blockchain platform. It should become a modern way of sending money to anywhere in the world and according to the creators, will be able to compete in speed with Visa and Mastercard payment systems.

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