TON Developers Seek to Launch Network Despite Court Ruling

TON Developers Seek to Launch Network Despite Court Ruling

Developers of TON Labs seek to launch the Telegram Open Network (TON) despite a U.S. court ruling, Cointelegraph website reported.

For his part, Fedor Skuratov, spokesperson of TON Labs, said:

“The community was ready for this (or another) scenario. We have several options, including the launch of TON by TCF [TON Community Foundation]. I will say more, no one (no one) can prevent the launch of TON by any other entity, person or community, cause TON is a decentralized open-source solution.”

“Already, there are two different test networks, and within the community, there is at least one group planning to launch,” he added.

By forking the mainnet of TON, TCF believes that it can circumvent the decisions of SEC and U.S. court. Thus, it would legitimately separate the blockchain from the original project. If this happens, the original investors may have to settle the assets distributed on this forked network:

“The issue of what will be recognized as the core network (Mainnet) is a matter of community recognition exclusively. We are considering, among other things, the option in which we will negotiate with TON investors on the topic of converting their rights to grams in the Telegram’s originally mentioned TON into rights for other grams.”

However, it is not clear if the proposed solution would be approved by Pavel Durov, Telegram Founder.  

TON’s official launch will take place no later than 30 April. Otherwise, the organization will return to customers the funds collected through initial coin offering (ICO).

Telegram appeals court ruling banning GRAM distribution

Cryptolydian reported yesterday that Telegram seeks to appeal a recent ruling of U.S. federal court in favor of the Securities and Exchange Commission (SEC) to stop the distribution of GRAM tokens.

Telegram filed a brief notice of appeal with the Court of Appeals for the Second Circuit in response to the court’s preliminary injunction earlier the same day freezing GRAM issuance until at least the trial.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.