Cryptocurrency analyst. Founder and editor at btcpeers.com
The team at Telegram promised investors that they would post part of the code for the future TON blockchain (specifically, the node code and network validation module) by September 1.
The 1st of September is long gone, and we have yet to see any updates.
On that date, only small updates to the code of the so-called TON light client were published, which was itself posted at the end of last spring. There was nothing of any real interest in these updates.
On the one hand, this means that work is ongoing and the team is periodically publishing certain actual updates to those components of the blockchain that they have already shown to the public.
On the other hand, we once again see a breakdown in terms of date commitments that the Telegram team first sets for its investors, and then violates them before setting new ones. And this cycle can repeat itself 3-4 times.
According to their agreement with investors, the deadline for the blockchain launch is 31 October of this year; otherwise, they will have to return the money to them. And so, that leaves less than 2 months to go. The situation is already becoming critical.
What's important to understand is, that by September 1, the developers promised to publish the node code. This is an important step in the launch of any blockchain. After this code is made available to the public, third-party developers have the opportunity to run it on their own servers and deploy a test blockchain network that they plan to launch (in our case, this is TON). This test network is called a testnet.
Thanks to the launch of the testnet, it's possible to collect bugs and errors that were not identified by the developers at the creation stage, and make corrections. After this, they then usually launch a real blockchain - the so-called minenet.
On average, the time from the launch phase of the testnet to the minenet is 2-3 months. Considering that there are less than 2 months left before the launch deadline of the TON minenet, and there is still no testnet, we can question the reality of making the launch plan date of 31 October.
In this case, how Pavel Durov will resolve the issue with investors is still not completely clear. Add to that the silence of the Telegram creator with regard to TON does not create a feeling of optimism. The situation is definitely becoming increasingly tense.