“Telegram Stars” is the new digital payment function that the messaging software Telegram has introduced. It lets users buy things inside the app. The ‘Stars’ work with any mobile operating system.
In a Thursday update with the Stars, the company’s CEO Pavel Durov said that tiny applications may take money for digital services. The Open Network’s cryptocurrency, Toncoin (TON), is available for app developers to trade on Fragment in return for Stars.
A 10% increase on Wednesday propelled TON into the top ten cryptocurrencies by market valuation, marking a notable gain for the currency.
According to what Durov mentioned, “Mini app makers may withdraw their Stars via Fragment utilizing TON.”. “Stars can also help them market their applications on Telegram, and they can do so on much better terms!”
Reason for the change is the daily addition of millions of users to Telegram’s micro applications, which have recently seen a boom. Recently, Hamster Kombat—a tiny app mostly available on Telegram—has become rather popular. By completing objectives and purchasing “upgrade cards,” users of this simulator game may raise their exchange revenue.
Hamster Kombat became the most popular Telegram channel last week, with millions of members. According to Durov, the messaging platform is now the “primary destination” for app launches, thanks to the current small app boom.
“In the annals of social media, stars and commercial subsidies elevate this to an unparalleled degree.” Moreover, according to Durov, Apple and Google would get a 30% profit on Stars sold by its consumers.
He did mention that the chat software “will subsidize adverts bought with Telegram Stars.” Sigh. However, there will be no compensation for app creators who reinvest Stars to advertise their product.
“Therefore, it is more financially prudent to release applications on Telegram rather than more conventional mobile app stores.”
The stablecoin issuer and Telegram collaborated in April to establish Tether (USDT) on the TON network. More cryptocurrency acceptance via Telegram was the goal of the partnership.
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