Cyril Paglino, the founder of Starchain Capital, has been chosen to lead TON Labs. Will the open source version of Telegram’s project manage to find a place for itself after the initial project’s setbacks with the SEC? We asked Cyril Paglino on the subject.
Cyril Paglino appointed CEO of Ton Labs
Cyrile Paglino has not only distinguished himself in the French-speaking crypto sphere by having a pass with Bruno Le Maire on the subject of cryptocurrencies. He founded Starchain Capital , which notably supported the Dune project (DUN) and participated in the development of The Garage, the incubator of blockchain startups located in Paris. More recently, Cyril Paglino therefore became CEO of TON Labs , the main developer of Free TON, which brings together 65 engineers.
Free TON was launched as an alternative to Telegram’s payment network. As a reminder, the messaging service engaged in a particularly fierce legal battle with the SEC, which prevented it from releasing its TON network and its cryptocurrency: the Grams. But the community had taken over, releasing free versions of the network.
Continue to keep the TON network alive
According to Cyril Paglino, it is essential for TON Labs to continue to bring the project to life after the failure of Telegram:
“Pavel Durov officially announced on his blog a few months ago that he was withdrawing from the project, following the SEC decision. TON The network has therefore é t é offered as open source, at the request of Pavel who said: ” I hope someone will take over the project , and will find success where we (Telegram) have failed.” ” .
The task will not be easy without the support of Telegram, but Cyril Paglino explains that he is confident in the future of TON Labs and the Free TON project. He explains that Free TON has a unique partnership model, with “ 90% of the token supply available and being distributed on a case-by-case basis, according to the will of the community which is 100% decentralized, to projects and partners who wish to use Free T ON ” .
In addition, Cyril Paglino explains that the technology developed by TON Labs is particularly solid, thanks to the initial support from Telegram:
“[The technology] is by far the most advanced on the market, it scales up to 1 million transactions per second , with type 3 smart contracts, and can now offer a 100% decentralized backend service to of businesses or services of hundreds of millions of members, which is not the case with other flat e forms of the market and will not be the case a few years before e es. “