Telegram 集成助推加密货币炒作，TON 飙升

在与 Telegram 集成的推动下，TON 加密货币的价值飙升，使其成为第十大加密货币。投资者押注它有潜力吸引 Telegram 估计的 9 亿用户，创建一个集支付、购物和社交媒体于一体的“超级应用程序”。然而，尽管过去在将加密支付引入社交媒体方面失败了，但 TON 的成功凸显了人们对“SocialFi”的持续兴趣。

TON Surges as Telegram Integration Sparks Cryptocurrency Hype

Telegram 集成引发加密货币炒作，TON 飙升

By Elizabeth Howcroft

伊丽莎白·豪克罗夫特

April 17, 2023

2023 年 4 月 17 日

London, United Kingdom - The cryptocurrency market has witnessed a meteoric rise in the value of TON, a digital asset closely associated with the popular messenger service Telegram. Investors are flocking to TON, betting on its potential to bridge the gap between cryptocurrency and the app's massive user base of approximately 900 million.

英国伦敦 - 加密货币市场见证了 TON 价值的迅速上涨，TON 是一种与流行的通讯服务 Telegram 密切相关的数字资产。投资者纷纷涌向 TON，押注其有潜力弥合加密货币与该应用程序约 9 亿的庞大用户群之间的差距。

Telegram's Endorsement and Blockchain Integration

Telegram 的背书和区块链整合

Telegram's endorsement of TON in September 2022 marked a pivotal moment for the cryptocurrency. The messaging giant declared TON's blockchain and its accompanying token as its "official Web3 infrastructure." This endorsement signaled Telegram's recognition of TON's potential as a platform for decentralized applications and financial services within its ecosystem.

Telegram 在 2022 年 9 月对 TON 的认可标志着加密货币的关键时刻。这家消息巨头宣布 TON 的区块链及其随附代币为其“官方 Web3 基础设施”。这一认可标志着 Telegram 认识到 TON 作为其生态系统内的去中心化应用程序和金融服务平台的潜力。

In a further boost to TON's legitimacy, the blockchain recently announced its partnership with Tether, allowing users to issue and transfer stablecoins (tokens pegged to fiat currencies) directly within the Telegram app. This integration provides a seamless and secure way for Telegram users to engage in cryptocurrency transactions without leaving the familiar confines of their messaging platform.

为了进一步增强 TON 的合法性，该区块链最近宣布与 Tether 合作，允许用户直接在 Telegram 应用程序内发行和转移稳定币（与法定货币挂钩的代币）。这种集成为 Telegram 用户提供了一种无缝且安全的方式来参与加密货币交易，而无需离开其熟悉的消息传递平台的限制。

Market Surge and Growing Value

市场激增和价值不断增长

The market has responded enthusiastically to these developments, with TON's value soaring to an all-time high of $7.63 on April 11, a substantial increase from around $2.21 a year earlier, according to data from CoinGecko. With a market capitalization of $18.3 billion, TON has ascended to the 10th position among the world's largest cryptocurrencies, trailing only the memecoin Dogecoin.

市场对这些进展反应热烈，根据 CoinGecko 的数据，TON 的价值在 4 月 11 日飙升至 7.63 美元的历史新高，较一年前的 2.21 美元左右大幅上涨。 TON 的市值为 183 亿美元，在全球最大的加密货币中排名第十，仅次于 memecoin 狗狗币。

Super App Potential and Investor Interest

超级应用潜力和投资者兴趣

The surge in TON's value reflects the broader appeal of "super apps," which aim to combine social media or messaging services with payments, shopping, and other financial services. Investors are drawn to the potential of these platforms to become ubiquitous digital hubs, similar to the Chinese social media giant WeChat.

TON 价值的飙升反映了“超级应用程序”更广泛的吸引力，这些应用程序旨在将社交媒体或消息服务与支付、购物和其他金融服务结合起来。投资者被这些平台成为无处不在的数字中心的潜力所吸引，类似于中国社交媒体巨头微信。

The cryptocurrency industry has embraced this concept, coining the term "SocialFi" to encompass the convergence of social and financial technologies. Elon Musk's acquisition of Twitter in 2022 and his subsequent exploration of cryptocurrency integration on the platform underscore the growing interest in SocialFi. Similarly, Revolut, a UK-based financial app, has taken a different approach by adding social functions to its existing finance platform.

加密货币行业已经接受了这一概念，创造了“SocialFi”一词来涵盖社交和金融技术的融合。埃隆·马斯克 (Elon Musk) 于 2022 年收购了 Twitter，以及随后在该平台上对加密货币整合的探索，突显了人们对 SocialFi 日益增长的兴趣。同样，总部位于英国的金融应用程序 Revolut 也采取了不同的方法，在其现有的金融平台上添加社交功能。

TON's Advantages and Altcoin Revival

TON 的优势和山寨币的复兴

While the attraction of TON stems partly from the broader interest in super apps, it has also benefited from a general revival in the market for alternative cryptocurrencies, known as altcoins. Thomas Peuch, CEO of digital asset hedge fund Indigo, attributes TON's outperformance to the project's strong fundamentals and the backing of Telegram.

虽然 TON 的吸引力部分源于人们对超级应用程序的广泛兴趣，但它也受益于替代加密货币（即山寨币）市场的普遍复苏。数字资产对冲基金 Indigo 首席执行官 Thomas Peuch 将 TON 的优异表现归功于该项目强劲的基本面和 Telegram 的支持。

Peuch notes that Indigo has активно traded TON tokens, recognizing its potential for growth. TON's in-house crypto wallet product within Telegram boasts over 6 million monthly users, further enhancing its appeal among investors.

Peuch 指出，Indigo 已经开始交易 TON 代币，认识到其增长潜力。 TON 在 Telegram 中的内部加密钱包产品每月拥有超过 600 万用户，进一步增强了其对投资者的吸引力。

Historical Background and Regulatory Challenges

历史背景和监管挑战

Despite the recent surge in TON's value, the integration of cryptocurrency into social media platforms has faced regulatory hurdles. Facebook's now-defunct "Libra" cryptocurrency project, for instance, was abandoned following intense opposition from global regulators concerned about its potential to destabilize financial markets and undermine monetary policy.

尽管 TON 的价值最近飙升，但将加密货币融入社交媒体平台仍面临监管障碍。例如，Facebook 现已解散的“Libra”加密货币项目因担心其可能破坏金融市场稳定和破坏货币政策而遭到全球监管机构的强烈反对，因此被放弃。

Robert Le, a senior analyst at PitchBook, highlights the ongoing challenges faced by SocialFi platforms. "The main challenge is shifting user perceptions in non-Asian markets, where messaging apps are predominantly seen purely for communication rather than as multi-functional platforms," Le says.

PitchBook 的高级分析师 Robert Le 强调了 SocialFi 平台面临的持续挑战。 “主要挑战是改变非亚洲市场的用户认知，在这些市场中，消息应用程序主要被视为纯粹用于通信，而不是多功能平台，”Le 说。

Regulatory concerns also loom over the integration of cryptocurrency into social media apps. "Regulators may be concerned about how these platforms comply with existing financial regulations," says Ram Gopal, a professor at Warwick Business School. "Ensuring users are protected from scams, fraud, and potential losses due to cryptocurrency volatility would be a critical concern for regulators."

将加密货币整合到社交媒体应用程序中也引起了监管方面的担忧。华威商学院教授拉姆·戈帕尔表示：“监管机构可能会担心这些平台如何遵守现有的金融法规。” “确保用户免受诈骗、欺诈以及加密货币波动造成的潜在损失将是监管机构的一个关键关注点。”

TON's Technical Structure and Decentralization

TON 的技术结构和去中心化

Telegram Messenger initially launched TON's blockchain in 2018, raising $1.7 billion through the sale of its associated cryptocurrency. However, the project faced legal challenges from the U.S. Securities and Exchange Commission (SEC), which claimed that the token sale violated federal securities laws.

Telegram Messenger 最初于 2018 年推出 TON 区块链，通过销售相关加密货币筹集了 17 亿美元。然而，该项目面临美国证券交易委员会（SEC）的法律挑战，该委员会声称代币销售违反了联邦证券法。

As part of a settlement with the SEC in 2020, Telegram agreed to halt its development of TON but neither admitted nor denied the SEC's allegations. Following Telegram's withdrawal, a group of independent developers continued to work on the project, picking up where Telegram left off.

作为 2020 年与 SEC 和解的一部分，Telegram 同意停止 TON 的开发，但既没有承认也没有否认 SEC 的指控。 Telegram 退出后，一群独立开发者继续从事该项目，接续 Telegram 中断的工作。

TON emphasizes its decentralized nature, based on an open-source codebase and devoid of a single controlling authority. The project is supported by a not-for-profit foundation registered in Zug, Switzerland.

TON 强调其去中心化性质，基于开源代码库，没有单一的控制机构。该项目得到了在瑞士楚格注册的非营利基金会的支持。

TON's spokesperson has clarified that Telegram and TON are distinct entities. The TON Foundation, led by President Steve Yun, oversees the project's development. Andrew Rogovoz, the former CEO of Russian social media platform VK, is a founding member of the foundation. He has been seen collaborating closely with Telegram co-founder Pavel Durov and Tether CEO Paolo Ardoino at conferences where they have announced partnerships and initiatives related to TON.

TON 发言人已澄清，Telegram 和 TON 是不同的实体。由总裁 Steve Yun 领导的 TON 基金会负责监督该项目的开发。俄罗斯社交媒体平台 VK 前首席执行官安德鲁·罗戈沃斯 (Andrew Rogovoz) 是该基金会的创始成员。人们看到他与 Telegram 联合创始人 Pavel Durov 和 Tether 首席执行官 Paolo Ardoino 在会议上密切合作，宣布了与 TON 相关的合作伙伴关系和举措。

As the cryptocurrency market continues to evolve, TON's integration with Telegram presents a compelling opportunity for the convergence of social media and financial services. However, the project's success will hinge on its ability to address regulatory concerns, enhance user adoption, and maintain its decentralized ethos.

随着加密货币市场的不断发展，TON 与 Telegram 的整合为社交媒体和金融服务的融合提供了绝佳的机会。然而，该项目的成功将取决于其解决监管问题、提高用户采用率和维持去中心化精神的能力。