Telegram Launches "Stars", a Digital Asset to Buy In-App Products and Services

Bittime - Short messaging platform Telegram launches "Telegram Stars". These are special digital assets that can be used to purchase various digital products and services directly within the app.

This announcement was made directly by Telegram CEO, Pavel Durov, via an upload on his platform on June 6. It is believed that the presence of Stars will facilitate transactions between users and developers of the Telegram mini application.

"With Telegram Stars, mini-app developers can now accept payments for their digital services using the easiest method available - in-app purchases on Android and iOS," explained Durov.

Stars for Developers and Users

Stars is not only useful for users who like in-app shopping. Telegram mini application developers can also use Stars for various purposes.

First, Stars can be exchanged for Toncoin (TON), the native cryptocurrency of Telegram's "The Open Network", via Fragment, Telegram's username buying and selling platform. This certainly provides flexibility for developers in managing their income.

Second, Stars can be used to promote their mini applications more intensively on Telegram. This strategy is considered effective for attracting more users and increasing the application's popularity.

Dirov's Ambition with the Presence of Stars

Durov appears to have bigger ambitions with the Stars in attendance. He plans to subsidize advertising purchased using Stars on Apple and Google platforms, which currently charge a 30% commission from every digital product sale.

"With this scheme, developers have a strong economic incentive to build digital products on Telegram," said Durov.

"If they use Stars to promote their apps, the overall commission can be reduced to almost zero percent. This makes launching apps on Telegram much more profitable than traditional mobile platforms."

The Future of Telegram Stars

According to Telegram's announcement on June 6, Stars will continue to be developed with additional features and functions in the future. Some examples mentioned include reward features for content creators and others.

The presence of Stars could be a breath of fresh air for the Telegram ecosystem. As an illustration, Notcoin, one of the most popular applications on Telegram that uses a "tap-to-earn" scheme (earn tokens by completing challenges), managed to gather 35 million users in just the first five months of its launch.

Apart from that, Telegram also noted that more than 400 million of its 900 million total users interact with Telegram bots and mini applications every month. This figure shows the great potential that Telegram has to become an established digital transaction platform.

Telegram's move to partner with Tether (USDT) and launch it on the TON blockchain last April further strengthens their commitment to encouraging the adoption of cryptocurrencies on their platform.

"Users now no longer need to face obstacles such as having to buy different types of crypto or tokens," said Justin Hyun, Investment Director of the TON Foundation, to Cointelegraph at that time.

Even though TON's price touched a record high of $7.65 around 36 hours before the launch of Stars, now the price has slightly decreased to around $7.55 (per CoinGecko data).

TON's current market capitalization is around $18.3 billion. The figure is still $7 billion behind its peak of $25.2 billion last April.

How to Buy Toncoin (TON) on Bittime

You can buy and sell Toncoin (TON) in an easy and safe way through over. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

Toncoin (TON) available on Bittime with market pair TON/IDR. To be able to buy TON IDR Of over Make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Study Complete guide on how to buy Toncoin (TON) on Bittime.

Monitor graphic movement price Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.