Telegram wants to allow users to store and trade cryptocurrencies
He said that this can fix the wrongs caused by the excessive centralisation, "which let down hundreds of thousands of cryptocurrency users".
Cryptocurrency users should switch to trustless transactions and self-hosted wallets that don't rely on any single third party.
"We, developers, should steer the blockchain industry away from centralisation by building fast and easy-to-use decentralised applications for the masses. Such projects are finally feasible today," said the Telegram CEO.
He said that it took only 5 weeks and 5 people, including himself, to put together Fragment -- a fully decentralised auction platform.
"Fragment has been an amazing success, with $50 million worth of usernames sold there in less than a month. This week, Fragment will expand beyond usernames," said Durov.
The time when the inefficiencies of legacy platforms justified centralisation should be long gone.
"With technologies like TON reaching their potential, the blockchain industry should be finally able to deliver on its core mission - giving the power back to the people," he emphasised.
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