DeFi
Bitcoin Bridge arrives on TON blockchain linked to Telegram
The TON Foundation, which supports The open network (TON), announced Wednesday that it will soon launch TON Teleport BTC, a trustless bridge designed to facilitate security Bitcoin transfers to and from the Telegram-related network.
The new system aims to allow Bitcoin holders to participate in decentralized finance (Challenge) activities on TON while preserving the security of their original assets, the Foundation said.
TON Teleport BTC will allow users to interact with decentralized exchanges, lending platforms, and other DeFi applications within the TON ecosystem. The Foundation said the process will be completely trustless and transparent, operating without a centralized issuer.
“All transactions are executed via smart contracts and verified by TON blockchain validators,” Anatoliy Makosov, TON’s technical lead, said in a statement. “Storing and using Bitcoin on TON is as secure as on the Bitcoin network itself, but significantly cheaper and more convenient.”
According to the foundation, each Bitcoin on TON will be fully backed by a real Bitcoin, pegged to the teleportation process to ensure secure and reliable transactions.
The Open Network is closely tied to the popular messaging app Telegram, as the messaging platform uses TON for ad revenue sharing payments with channel owners and other purposes. Telegram initially created TON internally before abandoning the project in 2020 due to regulatory scrutiny, with development continuing externally through a developer community.
TON has seen growing attention and a surge in its token price this year amid this growing adoption of Telegram itself, as well as a crypto gaming boom that has yielded hits with Telegram-based games like No room And Hamster Fight.
Editor’s Note: This article was written with the help of AI. Edited and fact-checked by Andre Hayward.