New Payment System in Telegram: Introduction of Internal Stars Currency
Date: 2024-06-07 Author: Henry Casey Categories: CRYPTO PAYMENTS
Telegram is preparing to launch a new payment system that will change the way users interact with applications within the messenger. Telegram founder Pavel Durov announced the introduction of an internal currency called Stars.
Introduction of Stars Domestic Currency
Telegram will have an internal currency called Stars. Users will be able to use Stars to pay for various services in “mini-apps” through in-app purchases on iOS and Android. This innovation promises to simplify and speed up the payment process within the messenger, making it more convenient and accessible for all users.
Developers of “mini-applications” in Telegram will have the opportunity to exchange Stars for Toncoin (TON) on the Fragment exchange. In addition, they will be able to use Stars to promote their products within the messenger, which will create additional incentives for their active use and adoption.
Subsidies and Commissions
Pavel Durov noted that Apple and Google charge a 30% commission for Stars purchases through their platforms. However, Telegram plans to subsidize advertising purchased using Telegram Stars. This means that if developers reinvest their Stars into promoting their apps, their overall commissions can drop to almost 0%. This innovation can significantly reduce the financial burden on developers and encourage them to actively use the new currency.
After the announcement of the introduction of Telegram Stars, the Toncoin (TON) rate increased by 5.7% per day, reaching $7.7 at the time of writing. This shows that the news about the new payment system in Telegram has caused a positive reaction in the cryptocurrency market.
Previously on Telegram Wallet
It should also be noted that Telegram Wallet recently announced a change in service provider, which may be due to preparations for the launch of a new payment system.
The introduction of the Stars internal currency in Telegram opens up new opportunities for both users and developers. Advertising subsidies and the ability to exchange Stars for Toncoin make this initiative attractive and promising. Telegram continues to develop and introduce innovations that can significantly change the landscape of instant messengers and digital payments.
