Telegram-Linked TON Blockchain Unveils Bitcoin Bridge, TON Teleport BTC
- TON introduces TON Teleport BTC, facilitating trustless Bitcoin transfers to its blockchain.
- The TON ecosystem, closely tied to Telegram, has seen a surge in DeFi adoption with $745.96 million locked in assets.
- The launch aims to bolster TON’s DeFi growth by integrating Bitcoin liquidity and enhancing ecosystem utility.
The Open Network (TON), closely associated with Telegram, is set to launch TON Teleport BTC, a trustless bridge designed to integrate Bitcoin into its growing blockchain ecosystem. This initiative marks a significant move towards enhancing Bitcoin’s utility within TON’s decentralized finance (DeFi) offerings.
Want to unlock new potential for your Bitcoin ₿ on #TON?
— TONIntroducing TON Teleport BTC, aiming to enhance Bitcoin utility on TON!
Dive into this thread to learn morepic.twitter.com/M9gmUElvaJ
(@ton_blockchain) July 17, 2024
TON Teleport BTC will operate on smart contracts verified by TON blockchain validators, ensuring a secure and decentralized process for transferring Bitcoin onto the TON blockchain. Each transaction via Teleport BTC will be backed 1:1 by native Bitcoin, safeguarding the original assets while enabling user…
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