The initial launch of the TON platform has already been lost, the company has no business model, but there are many shortcomings, according to analyst Larry Chermak
The Telegram Open Network project has serious problems approves Larry Chermak, an analyst at The Block. He advised to think twice before buying Gram chips and explained, and what are the main disadvantages of the blockchain platform.
According to the expert, the messenger Telegram does not have any commercial model, initially was financed solely with the money of the founder Pavel Durov. The analyst was also embarrassed by the fact that information about the possible launch of the TON blockchain arose in the second half of 2017, at this time the market was at its peak, and investors were actively investing in ICO projects.
The launch of the platform would take place in 2018, but this did not happen. Chermak claims that investors in the project were not guaranteed to be able to pay them in full if the system was not started until October 2019, since $ 400 million was spent directly on development.
"It is clear that the launch of the network is planned until 31 October. Literally the last day the Telegram did not have to pay back the money. Coincidence? "- said the analyst.
He emphasized that giving the company $ 1.7 billion in exchange for future tokens is "a bad idea". Chermak is sure that most investors do not expect to earn more from this project.
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