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Telegram founder Pavel Durov publicly voiced his support for the Toncoin developers.
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He said he was proud that “the technology we created is alive and developing.” Durov stressed that Toncoin does not depend on the Telegram team, and wished the developers success:
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“With the right go-to-market strategy, they have everything they need to build something grand.”
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In response to Durov’s statement, TONCOIN’s price began to rise rapidly.
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In May 2020, Pavel Durov announced the closure of the Telegram Open Network (TON) project due to a legal dispute with the U.S. Securities and Exchange Commission and a ban on token distribution.
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After the TON shutdown, several independent teams continued work on the blockchain based on the project’s code. Among them are Free TON (renamed to Everscale), the Chinese project from TON Community (which is not developing at present) and NewTON.
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The latter launched the test network NewTON Blockchain in May 2020. In August 2021, the TON team transferred the ton.org domain and the project’s GitHub repository to NewTON, which subsequently renamed itself The Open Network. It is this project that is developing Toncoin.
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ForkLog sought comment from The Open Network representatives.
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