Cloud-based messaging app Telegram is following in the footsteps of new tools that focus on the fundamentals of the crypto market: decentralization.
In a statement on November 3, Pavel Durov, the app inventor and CEO, revealed that decentralized products are the company’s next target.
Specifically, Telegram plans to roll out a decentralized exchange (DEX) and a self-custodial wallet.
The goal is to tap into one of the essentials of cryptocurrency – decentralization. The new products are aimed at placing more decentralization in users’ hands.
Durov said:
“Telegram’s next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users.”
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