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Crypto Industry's Favorite Messaging App Telegram Surpasses 500 Million Active Users

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Crypto Industry's Favorite Messaging App Telegram Surpasses 500 Million Active Users

Telegram, a popular messaging app within the cryptocurrency space, surpassed 500 million monthly active users during the first week of January, according to Telegram chief executive officer Pavel Durov.

Over the most recent 72 hours, said Durov, the application has seen an enormous flood in new clients, with an extra 25 million individuals joining to utilize the stage. These new clients are coming from all around the globe, with the larger part – 38% – drawn from Asia.

Some 27% are coming from Europe, 21% from Latin America, and 8% from the Middle East and North Africa (Mena area). Around 200 million individuals utilized Telegram in 2018, which means client development has surpassed 150% more than two years.

Message may have profited by changes to the security strategy at rival Whatsapp. Late updates to Whatsapp's protection strategy necessitate that clients share their own data with parent firm Facebook or quit utilizing the administration out and out.

These progressions are accepted to have incited clients awkward with offering a greater amount of their own information to Facebook to leave Whatsapp, and join protection driven contenders, for example, Telegram or Signal.

Not at all like other contending informing applications, Telegram doesn't share individual information and offers scrambled talks.

Posting on his own Telegram station on Jan. 12, Durov stated:

People no longer want to exchange their privacy for free services. They no longer want to be held hostage by tech monopolies that seem to think they can get away with anything as long as their apps have a critical mass of users.

The Telegram CEO added that

 “with half a billion active users and accelerating growth, Telegram has become the largest refuge for those seeking a communication platform committed to privacy and security.”

In 2020, Telegram announced new client recruits of 1.5 million every day, a long ways from the current deluge of individuals joining the stage. "We've had floods of downloads previously, all through our 7-year history of ensuring client security. Be that as it may, this time is extraordinary," noted Durov.

As of recently, all administrations on Telegram have stayed free. In any case, Durov reported in December that a few administrations may now be adapted. He said extra capacities will show up for "business groups and clients with cutting edge needs" and those highlights will be paid on the grounds that they are "asset serious". Standard clients will keep on utilizing Telegram for nothing, he underscored.

Wire endeavored to dispatch its own digital currency called Gram, through the TON blockchain stage, however was hindered by the U.S. Protections and Exchange Commission. That left Pavel Durov, who had raised $1.7 billion from select financial specialists for the task, burdened with an obligation of $1.2 billion and $18.5 million in punishments.

Presently a few speculators in TON are setting up a claim against Durov to attempt to compel the finance manager "to sell part of Telegram or the whole organization and pay off the financial specialists, since he burned through cash on Telegram," as indicated by a Forbes report. Durov purportedly went through $500 million of the TON cash to overhaul Telegram, something speculators guarantee was not piece of the first arrangement.

JANUARY 12, 2021