Gram: The Cryptocurrency of the Telegram Ecosystem

About the Telegram Ecosystem---
At the core of the ecosystem is the multi-blockchain Telegram Open Network (TON), whose architecture provides for the PoS (Proof of Stake) algorithm of consensus, as well as a master chain and accompanying blockchain networks. This approach will avoid scalability problems as TON blockchains can be automatically split and combined to ease the load on the entire network. The absence of long queues of transactions to get into the block will contribute to low commission fees. Moreover, any block from the blockchain can become an independent network, and a smart routing system will provide instant information exchange between all TON blockchains. This solution will allow the network to process up to a million transactions per second.

In addition, the Telegram ecosystem will make such services available to users as:

TON DNS, a Domain Name System;

TON Storage, a decentralized file storage;

TON Services, a platform for third-party services that provides an intuitive interface for decentralized applications and smart contracts;

TON Payments, a platform for micropayments and a network of micropayment channels.

About the Gram---

The Gram token is the internal Telegram ecosystem cryptocurrency. Total Gram emission is 5 billion tokens. Platform users can use Gram tokens to pay for or use any physical or digital assets provided by individual vendors in the Telegram ecosystem. Gram tokens can also be used for:

Payment of commission fees for the work of TON nodes (validators) when confirming transactions and smart contracts;

In the form of stakes of TON network validators, which will approve transactions and create new blocks;

To transfer debt to the validators in exchange for a share of the commission;

Voting rights to support, or, conversely, speak out against innovations in the work of the network protocol;

Payment for services provided by platform applications (TON Services);

Payment for registration of domain names (TON DNS) and hosting of TON sites (TON WWW);

Payment for anonymity and concealing IP addresses (TON Proxy);

After the launch of TON, the annual inflation rate envisaged by the fundamental parameters of the TON network will be 2%. This inflation will be ensured by payments that will be made by all community members in the form of payment for the work of validators that support the operation of the TON network.

4% (200 million Gram) of all released tokens with a usage limitation period of 4 years are stipulated for the developers. 52% of all tokens will be frozen within the TON Reserve to avoid speculative trading and to maintain a certain level of flexibility in the early stages of the launch of the ecosystem. The remaining 44% of the tokens (2.2 billion Gram) will go on sale, and their value will be formed by the following formula:

pn: = 0.1 × (1 + 10 − 9)n USD

To work with the token, platform users will be provided with a "light wallet", which will allow storing the cryptocurrency without having to load the entire TON blockchain. These wallets will be integrated into the Telegram ecosystem, which will permit Gram holders to work with all applications and services. There will also be desktop and mobile versions of the light wallet.