This article comes fromCointelegraph, original author: Helen Partz

Odaily Translator |

Odaily Translator |According to a New York blockchain venture capital and digital asset fund Decentral Park Capital, the value of the Telegram Open Network (TON) is expected to exceed $20 billion within five years.

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"A Sleeping Giant Awakens"The 59-page report is titledThe State of the Telegram Open Network: A Sleeping Giant Awakens

The research points to the great potential of TON, emphasizing that it can be used as a gateway to crypto assets and related applications, "banking the unbanked"; and becoming the first discovery platform for Web 3.0 applications, "A Web 2.0-like App Store."

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Three major challenges

However, the report states that TON has yet to resolve a number of internal and external issues in order to introduce its highly promising technology. As such, Decentral Park outlined three major challenges facing TON: a lack of openness to developers, an unfriendly attitude from local governments, and an alleged imbalance between expected demand and selling pressure.

According to the study, TON appears to be less open to developers than its competitors, which is considered a major disadvantage "in a world of talent scarcity." The study explained that government skepticism would slow the flow of value from fiat to Grams, thereby inhibiting the token’s adoption.

Finally, the report says low interest from crypto-native investors, few channels for Telegram users to buy Grams, delivery delays, and other issues will purportedly cause selling pressure to outweigh demand for the asset in the short to medium term.According to Cointelegraphrecently reported

, TON plans to launch in late October.October 8,Telegram Releases Grams Wallet Terms of UseCointelegraph Summary Highlightsas follows:

as follows:

1. Taxation, Regulation: Grams Wallet may not be used in any jurisdiction where its services are prohibited by applicable laws, regulations or rules. Its customers are responsible for determining the taxes payable for using the Gram service.

2. Transactions: Grams Wallet has no control over the TON Blockchain, cannot ensure that any transaction details submitted through the Service are verified and confirmed on the TON Blockchain, and cannot provide cancellation or amendment requests for submitted transactions.

3. Private Keys: Grams Wallet will not access or store public or private keys, backup phrases or passwords and other identifying data about its customers. Customer will be solely responsible for managing and maintaining the security of its credentials.

4. Termination: Grams Wallet reserves the right to shut down, terminate or disable any or all of the Services, user accounts or access to the Services at any time and for any reason.

5. Modification of terms of service: Telegram reserves the right to modify its terms of service.On October 10, the major U.S. crypto exchange and wallet providerCoinbase Announces Custody Support for GramAnchorage Trust Company, while another American company