Telegram Reaches 950 Million Users, Plans to Introduce App Store

Messaging app Telegram has achieved a significant milestone, reaching 950 million active users. The company, led by founder Pavel Durov, aims to surpass the 1 billion user mark by the end of the year. This announcement was made by Durov on his channel on Monday.

In addition to this impressive growth, Telegram is gearing up to launch an app store and an in-app browser with support for web3 pages within the month. This move aligns with the company's ongoing efforts to integrate more web3 technology into its platform.

Earlier this year, in March, Telegram surpassed 900 million users. During an interview with the Financial Times at that time, Durov expressed the company’s goal of achieving profitability by next year.

Web3 Technology Adoption

Telegram has been steadily increasing its adoption of web3 technology. Although the company has historically supported cryptocurrency and blockchain projects, its progress in this area slowed after a failed initial coin offering in 2018. However, in December 2022, Telegram began auctioning usernames on the TON blockchain, marking a renewed focus on blockchain technology.

This year, Telegram has concentrated on aiding developers in creating mini-apps and games that utilize cryptocurrency for transactions. The platform has also started sharing ad revenue with channel owners through the distribution of toncoin, a token on the TON blockchain. Recently, Telegram allowed channel owners to convert stars into toncoin, enabling them to buy ads at discounted rates or trade cryptocurrencies.

Addressing Security Concerns

Despite these advancements, Telegram has faced challenges with scams and fraudulent activities. According to a report from Kaspersky, scammers have been actively targeting users to steal toncoins since November 2023. Addressing these concerns, Durov announced that Telegram is working on measures to mitigate such scams.

"Telegram will soon display the month of registration and principal country for public accounts, similar to Instagram," Durov stated in a recent message. "We will also enable organizations to use their mini-apps to issue labels for channels, creating a decentralized marketplace for third-party verification."