Telegram has issued a new update which will allow users of the encrypted messaging app to signup for accounts using phone numbers bought by cryptocurrency.
The new version of the popular messaging app is introducing blockchain identities that will let users make an account without a registered SIM card, The Verge writes.
Telegram Version 9.2 Gives Users Options To Purchase Usernames Using Blockchain
Users of Telegram have been required to put their phone number to sign up for an account, similar to other encrypted messaging apps like Signal and WhatsApp.
However, in a new blog post, Telegram says that it is making its app more accessible by letting users use blockchain-powered anonymous numbers from the crypto platform Fragment.
Through this, users can sign up on the platform with an encrypted phone number that will make them more anonymous.
It is important to note that while Telegram asks users for their SIM-generated phone numbers, the app keeps them invisible to other users, but only to some extent.
However, should users want to get anonymous numbers, they need to buy one from Fragment using the cryptocurrency Toncoin.
According to Gizmodo, once users connect to a VPN, the blockchain platform will show some numbers that are available for just under $40 with six days left to bid.
In other instances, more common numbers are selling for as much as $61,850 with two weeks left in the bidding process.
These numbers can only be used to sign up for Telegram and can not be used for anything other than that.
It is also necessary to remember that this feature is not available for interested users in the United States, unfortunately.
In addition to blockchain-powered phone numbers, Telegram is extending its self-destructing messages feature to work with a timer for all new chats of chat groups.
Read More: Telegram Adds Video Message Transcriptions, Collectible Usernames With Latest Update
Telegram Has Been Trying To Monetize The Platform For A Long Time
According to Durov, Telegram Premium has been doing well, with over 1 million users paying for it, only after being released five months ago.
However, in another money-making venture, Telegram will also be selling off popular usernames on Fragment for cryptocurrency with its new update.
Telegram started auctioning off these user handles on the TON blockchain back in October, which was developed by the platform with the Securities and Exchange Commission.
However, before the announcement of the username auction, the company reportedly started to take usernames from users without prior notice, Gizmodo says.
These names are then resold as expensive NFTs, with the most expensive names like "Facebook" selling for as much as $94,200 and "Amazon" for $425,000.
At the moment, the most expensive name is "coin," which is auctioning at $585,900, from which Telegram takes a fee once sold on Fragment.
While it is unclear if the company is responding to the backlash from the update, CEO Durov remains positive about the platform's venture with Fragment.
It can be remembered that he even praised Fragment for having amazing success in generating over $50 million in sales in only less than a month.
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