Telegram's Blockchain Will Be Compatible With Ethereum: Source

Telegram's new blockchain project will be compatible with ethereum, according to a tech startup building tools for the network.

The messaging company is expected to release the code to run a node on the Telegram Open Network on Sunday, allowing users to trial its project in advance of the project's expected mainnet launch on Oct. 31.

TON Labs, a tech startup helmed by investors in Telegram's token sale, is building a number of tools for developers to help them build on the new network.

One of these tools will be a Solidity compiler, which will allow decentralized applications built for ethereum to also run on TON, said TON Labs CEO and managing partner Alexander Filatov.

"That was probably the most difficult thing we built. It will allow the advanced Ethereum community to pull everything they wrote for ethereum into TON.".

As mentioned, TON is expected to launch by Oct. 31.

If it does not, Telegram will have to refund investors in its token sale, according to its user agreement.

Sunday's release is expected to be the last in a series of testnet releases.

"We have very little time between the node release and the mainnet launch to test, identify and fix possibly bugs and vulnerabilities."

Telegram raised at least $1.7 billion in 2018 for its hotly anticipated blockchain.