Telegram Reaches 950 Million Users and Plans to Launch App Store

Telegram, the popular messaging app, has announced a significant milestone, reaching 950 million active users. The company’s founder, Pavel Durov, shared this news on his channel, expressing confidence in surpassing the 1 billion user mark by the end of this year.

In addition to celebrating its user growth, Telegram is gearing up to launch an app store and an in-app browser with support for web3 pages later this month. These new features align with Telegram’s ongoing commitment to integrating web3 technologies into its platform.

Steady Growth and Profitability Goals

Telegram’s user base has seen steady growth, having crossed the 900 million user threshold just a few months ago in March. During an interview with the Financial Times at that time, Durov mentioned that the company is aiming to achieve profitability by next year.

Embracing Web3 and Blockchain

Telegram has a history of supporting cryptocurrency and blockchain initiatives. Although the company’s initial coin offering in 2018 did not succeed, it has not deterred their ambitions in the web3 space. In December 2022, Telegram began auctioning usernames on the TON blockchain, signaling a renewed focus on blockchain-based activities.

This year, Telegram has intensified its efforts to integrate web3 technologies by encouraging developers to create mini-apps and games that utilize cryptocurrency for transactions. The platform has also started sharing ad revenue with channel owners through toncoin, a token on the TON blockchain. Additionally, channel owners can now convert stars to toncoin to purchase ads at discounted rates or trade cryptocurrencies.

Addressing Scams and Enhancing Security

Despite its achievements, Telegram has faced challenges with scams and fraudulent schemes, particularly those targeting toncoin users. According to a report from Kaspersky, scammers have been increasingly active since November 2023, attempting to deceive users out of their toncoins.

In response, Durov has assured users that Telegram is taking steps to combat these scams. He announced upcoming features that will enhance security and transparency on the platform. These include displaying the month of registration and principal country for public accounts, similar to Instagram’s approach.

Furthermore, Telegram will allow organizations to use mini-apps to issue labels for channels, creating a decentralized marketplace for third-party verification.

Looking Ahead

Telegram’s ambitious plans to integrate an app store and web3 support, along with its continuous user growth, highlight the company’s innovative approach to staying ahead in the competitive messaging app market.

As it pushes towards the 1 billion user mark and aims for profitability, Telegram remains committed to enhancing its platform with cutting-edge technologies while addressing security concerns to protect its users.