Pavel Durov plans to launch a cryptocurrency wallet and decentralized exchange on the TON blockchain

Pavel Durov, the founder of Telegram messenger, whose team recently launched a blockchain platform for the sale of username identifiers, has announced further plans. The developer decided to release a set of tools for creating a full range of decentralized applications, including cryptocurrency exchanges and wallets.

Durov wrote about this on his Telegram channel, justifying the decision by the recent collapse of the FTX exchange and the need for cryptocurrency projects to return to decentralization. «The blockchain industry was created with the goal of decentralization in mind, but now the power is concentrated in the hands of a few people. As a result, many people lost their savings when one of the largest exchanges, FTX, went bankrupt. Users should switch to using decentralized solutions and their own wallets, not relying on any service,» the Telegram founder emphasized.

As a reminder, the messenger already has a decentralized auction platform called Fragment, created to sell username identifiers based on the Telegram Open Network (TON) blockchain. «For the first time in the history of social media, a fair, transparent market for usernames has been created. Finally, people will have ownership of their social media addresses, protected in the immutable Ledger of a decentralized blockchain network,» Pavel Durov wrote in late October.

The Fragment auction is popular with users — recently, the top ten most expensive Telegram names sold on Fragment included a name associated with the cryptocurrency Dogecoin (DOGE). on November 9, an unknown user purchased the @doge nickname for 350,000 TON (about $ 554,000 at the time). At the time, it was ranked eighth on the list of the most expensive names on the platform.