- The TON ecosystem’s use cases for Bitcoin will be enhanced by TON Teleport BTC for decentralized exchanges, lending protocols, and other DeFi utilities.
The Open Network (TON) Foundation, which is in charge of the blockchain network TON, which is centered around Telegram, has announced new infrastructure that will support the use of Bitcoin on the network.
The new infrastructure bridges transfers between Bitcoin and TON and is dubbed TON Teleport BTC. It seeks to enhance Bitcoin’s applications for decentralized exchanges, lending systems, and other DeFi utilities within the TON ecosystem.
TON Core technical head Anatoliy Makosov announced in a statement that you may now use TON Teleport to transfer Bitcoin to TON and back.
This safe, decentralized technology works without boundaries or middlemen. Every transaction is carried out through smart contracts, and TON blockchain validators confirm each one. While far more affordable and practical, storing and spending Bitcoin on TON is just as safe as doing so on the actual Bitcoin network.
Due in large part to Telegram-based mini-games like Notcoin, Catizen, and Hamster Kombat, TON had a sharp rise in users, reaching 470,000 active addresses as of July 16.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
