- According to Justin Hyun, the director at TON Foundation, Telegram’s Mini Apps would become the Trojan horse for mass adoption of blockchain technology.
- Mini Apps are blockchain-based DeFi applications on Telegram that aim to simplify interactions on the blockchain without the need for any background education.
Telegram Mini Apps to Simplify Blockchain Adoption
In collaboration with TON Foundation and Tencent, Telegram launched a blockchain-based decentralized applications (DApps) known as Mini Apps.
The Mini Apps have made a monumental stride in simplifying blockchain technology for mainstream users.
And could just become a Trojan horse for extensive blockchain adoption, according to Justin Hyun.
Launched in 2020, Telegram Mini Apps aimed at allowing Web3 businesses to deploy crypto-friendly apps. And would directly do so within the Telegram messaging app.
That’s our thesis for bringing more users onto the blockchain without even needing to educate them about it. It’s a Trojan horse way to say: look, you’re letting in all these user-friendly DApps. It’s just Telegram Mini Apps that they’re using, whether that’s inside their channels.
Justin Hyun, director of investments at TON Foundation, stated.
Interestingly, the move eliminates the learning curve usually associated with Blockchain technologies.
And instead, it introduces the vast potential of blockchain to Telegram’s broader user base.
Onboarding the Next 500M Users Require Simple Apps
Notably, Hyun adds that there’s a need to simplify initial blockchain interactions to attract a wider audience.
He noted that bringing the next 500 million users on-chain may require simple initial use cases. In this view, users may be unaware of the underlying blockchain interaction.
In addition, select Mini Apps would offer financial incentives, encouraging user engagement with Web3 functionalities.
Evidently, the initiative aligns with Telegram’s vision of integrating multiple services under one platform for its over 800M active users.
It will serve as a bridge, unifying the masses to blockchain technologies via familiar and intuitive interfaces.
More importantly, the initiative will accelerate blockchain adoption worldwide, making it more accessible to everyday users.
Financial Incentives and Monetization Opportunities
According to Statista, Telegram is the third largest messenger app by monthly downloads. On Feb. 28, 2024, Telegram announced that it was launching its advertising platform that would use the TON blockchain for payments.
Starting in April 2024, owners of Telegram channels can earn rewards through their advertisements. It’s a revenue model offering opportunities for Telegram and content creators.
On the other hand, TON Foundation recently announced a $115 incentive program for its ecosystem to solidify its growth strategy.
Notably, the initiative will activate a robust ecosystem around the Mini Apps. And still, assist in adopting its blockchain for different users globally.
This gradual approach will pave the way for more sophisticated applications in the future. And ensure a smooth user transition, promoting sustainable growth in blockchain adoption.
Remarkably, Mini Apps provide an opportunity to offer democratic access to blockchain technology.
Will Telegram’s Mini Apps play an integral role in shaping the future of dApps?
Julia Zakharchuk
Julia is a professional crypto and blockchain writer known for her insightful YouTube channel "MoneyFest." She showcases her dynamic presentation skills as a host and moderator at blockchain conferences. Julia drives also business development at ChainUp and advises UNITBOX, an innovative NFT renting protocol. With her exceptional expertise, Julia is a highly valued industry contributor and is set to make a lasting impact. We at Coinweb are lucky to have her on board.
