Additionally, he said it’s possible today for developers to steer the blockchain away from centralization with the release of new products that a wide audience can access. Moving forward, Telegram, a messaging and social-media app, will build non-custodial wallets and decentralized exchanges for millions of people to trade and store cryptocurrencies, Durov said. “This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users,” he said. “The time when the inefficiencies of legacy platforms justified centralization should be long gone. With technologies like TON reaching their potential, the blockchain industry should be finally able to deliver on its core mission — giving the power back to the people.”
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