The Telegram messaging app quickly became a fan favorite, but not because of its superb privacy-focused messaging feature – it’s the integrated Telegram Mini Applications. You may have noticed some people tapping their screen while the Telegram app is open, and you wonder if they’re just messaging. Well! Not entirely.
Top companies and developers are using these Mini Applications to create crypto games and payment solutions for the billions of Telegram users without forcing them to leave the app. Telegram has become a thriving hub for crypto and Web3 users, thanks to these mini apps built directly on the platform and the integration of The Open Network (TON). Is Telegram finally bridging the gap between users and DeFi?
The Rise of the Super App: Why Everyone is Onboarding on Telegram
Telegram is one of the few super applications that offers various services, from messaging to crypto payments, through its revolutionary Mini Apps. Until recently, Telegram was only known for its messaging infrastructure. Now, it has evolved into a Web3 platform, onboarding crypto apps and users with zero account creation or even wallets. With Telegram, you can interact with bots, play games (like in the case of Hamster Kombat), trade NFTs, and make payments without leaving Telegram. This allows for easy onboarding, as you are not required to download another app to use a service. However, the blueprint for a super app didn’t start with Telegram – it started with WeChat.
WeChat, a super messaging app owned by Tencent, pioneered the model in China. This app became a one-stop shop for messaging, payments, and e-commerce. The evolution of use cases expanded the app’s utility beyond messaging and onboarded even more users. Telegram mirrored this model by integrating mini-apps. However, what sets Telegram apart from WeChat is its crypto-friendly environment. Its partnership with the TON Foundation allows third-party crypto developers to offer various services on Telegram. TON is blazingly fast, low-cost, and scalable, creating a seamless user experience. Telegram and TON are laying the groundwork for a decentralized ecosystem, signifying a significant leap from Web2 to Web3.
Telegram’s vision didn’t end there – it also developed its native Wallet, Telegram’s proprietary digital storage for securely holding and managing cryptocurrencies and simplifying transactions. You can send, receive, and store crypto easily. This move exemplified the platform’s dedication to accessibility and navigating crypto assets. Wallet accepts most cryptocurrencies.
The Success of Telegram Mini Applications and TON
The impact of Telegram Mini Apps and Ton is evident in projects like Notcoin (NOT), Hamster Kombat, and Wallet (Telegram’s native wallet). Both Notcoin and Hamster Kombat were the most viral Telegram Mini apps, leveraging the tap-to-earn concept. Notcoin saw five million tokens claimed within 36 hours of trading. Similarly, Hamster Kombat garnered 19 million daily active users and almost 2.9 million new users in a day.
Telegram’s native Wallet allows users to send tokens via username, buy crypto with Fiat, swap, and stake. User-friendliness is a major factor that drives adoption. These pieces of evidence proved that Telegram could onboard new users through crypto and lower barriers to entry.
Challenges to Telegram Mini Applications
Two of the biggest challenges facing Telegram Mini Apps are security and regulation. Integrating more apps and tokens into Telegram will leave the ecosystem vulnerable to phishing and scams. Users have reported several cases of cyber fraud due to clicking on malicious links. The Cyber Security Agency of Singapore reported that 50 people lost at least $18,000 in 2023 to impersonation scams on Telegram. Verification systems must be tighter to eliminate these vulnerabilities.
Regulating the crypto industry has always been a big topic in many legislatures globally. Given that many countries are still trying to find a way to keep the sector in check, Telegram and other ecosystems involved with crypto may face continuous scrutiny. Recall that Telegram was at loggerheads with the U.S. SEC in 2020 over the launch of TON. Four years later, on August 24, Telegram’s co-founder, Pavel Durov, was arrested at a French airport and indicted on charges related to illegal activity on the messaging app. This forced Durov to initiate a crackdown on illegal content to clean the app of criminals.
Final Say
Telegram Mini Applications are proof that social media platforms can be part of the digital evolution, where they can offer other services besides traditional messaging. Telegram has paved the way for a decentralized future, and it’s only a matter of time before other social media companies follow suit. As Telegram continues to evolve, it will continue to play a pivotal role in driving blockchain adoption, making Web3 accessible and fun, and expanding utilities for everyday users.
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