Instant Messaging and cryptos: the situation between Telegram and Whatsapp

Source: https://saung.net/whatsapp-vs-telegram/

Hi all Hivers! I hope you're all doing well: we're reading and commenting and that's really great!

Today let's take a little bit of cryptocurrency exchange through messaging services.
In particular we talk about Telegram and whatsapp.

As we all know the relevant creators have created or are creating dedicated cryptocurrencies that can then be transferred through the messaging apps to create more friendly environment for the users.

Whatsapp

Source: https://www.ilgiornale.it/news/tecnologia/whatsapp-apre-ai-file-pesanti-invio-fino-2-gb-2021814.html

The best known and most widely used, which as we know is owned by Mr. Zuckerberg, Founder the company, named Facebook now re-branded Meta.

If you remember Facebook Patron had already prepared his own cryptocurrency (Lybra) project and was almost less than a step away from activation.

Lybra was the name of token and Calibrate its wallet, for various reasons (mainly privacy) the project went on standby for good.

What kind of Games of Power did happen?

Source: https://www.theverge.com/2019/6/26/18716326/facebook-libra-cryptocurrency-blockchain-irs-starbucks

So in November 2021 there were changes at the head of the company: David Marcus, project leader resigned and a succession of name changes hints at a suspension of the project.

The token, which became Diem, has completely disengaged from Meta and the Calibra wallet is now seemingly called Novi.

Everything is currently ready for activation, but privacy issues (passing personal data between the facebook platform and Diem) are slowing activation. Not to mention other serious problems of trust and acceptance by various world states.

After this necessary preamble to frame the current situation, let's move on to talk about whether the ability to transact through the messaging application has been activated.

At the moment there is only one version, dedicated to a select few, with which P2P transactions of tokens can be made. The use of the Diem blockchain, at the moment, is not yet authorized for decentralized validation so each transaction is confirmed "manually" in a centralized manner.

At this point, beyond the fact that we are in a totally centralized environment, every transaction that is originated is still analyzed and checked for correctness before confirmation, so a privacy factor is lost.

Telegram

Source: https://www.smartworld.it/guide/come-regalare-telegram-premium.html

Having analyzed the most famous messaging application we move on to talk about its main competitor:

Telegram

Based on a multitude of bots, this messaging center we can consider it decentralized and with a very well articulated privacy: each chat is visible only by the participants and the only copy is resident on the server.

This means that messages can be deleted only by those directly involved and cannot be viewed by others; moreover, once a message is deleted, it becomes unrecoverable because it is deleted from the server.

We can address Telegram as the most secure in terms of privacy because cloud storage is done on distributed servers with separate decryption keys (a form of multisig) so no outer parties can have access, not even government institutions.

What about the possibility of payments via cryptocurrencies?

As we know the telegram token (formerly Gram) as a result of issues with the SEC, became disjointed from the telegram organization and the blockchain still has the same acronym (TON) but the meaning is different: from Telegram Open Network to The Open Network.

Source: https://coinmarketcap.com/it/currencies/toncoin/

For further clarification I refer you to the article where I analyzed more precisely said token.

While Whatsapp has the possibility of exchange among a select few and in experimental phase, the telegram bot is working and you can exchange, send and buy, at the moment, only 3 coins: BTC, USDT and TON.

In order to proceed with this exchange, one must query the appropriate bot with the @wallet command and then select the desired option.
Obviously the wallet is in the custody of the server, in fact, once created it reports to our Telegram profile and we are not provided with keys.

Not your keys Not your money

Rather loquacious phrase, so I recommend, even if at security we are at a certain level, to load the wallet of those few tokens necessary to transfer to another user. Conversely, when we receive tokens, we transfer them directly to an actual wallet.

This is the current situation, smoky on one side while working on the other; the only thing that does not totally convince me is the inability to connect the bot to its own wallet so as to keep its funds safe.

That's all for today, see you tomorrow!