TON Foundation Unveils TON Teleport BTC to Enhance Bitcoin Utility on TON Blockchain

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TON Teleport BTC, a new bridge between Bitcoin and TON, aims to expand Bitcoin’s use cases in DeFi applications on the TON network.

TON Foundation Unveils TON Teleport BTC to Enhance Bitcoin Utility on TON Blockchain (1)

The TON Foundation, governing the Telegram-linked blockchain TON, recently announced TON Teleport BTC, an infrastructure designed to improve Bitcoin’s utility within the TON ecosystem. This bridge facilitates transfers between Bitcoin and TON, specifically targeting DeFi applications like decentralized exchanges and lending protocols.

Anatoliy Makosov, TON Core technical lead, highlighted the benefits of TON Teleport BTC: “Users can now transfer Bitcoin to TON and vice versa using this secure, decentralized technology. With smart contracts and TON validators ensuring security, storing and using Bitcoin on TON offers a cheaper and more convenient alternative compared to the native Bitcoin network.”

TON has witnessed a significant user surge, reaching 470,000 active addresses as of July 16, largely driven by Telegram-based mini-games. This growth coincides with Toncoin, the native TON token, currently ranking as the ninth-largest cryptocurrency by market capitalization.

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ABOUT THE AUTHOR

Alex Rousseau is a French journalist and analyst with a deep understanding of the intersection between finance, technology, and security. His expertise spans across cryptocurrency, trading strategies, tech protocols, cybersecurity threats, artificial intelligence applications, and cloud computing solutions. He is passionate about demystifying complex technological concepts and their impact on the future of finance.

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