$TON
The TON Foundation announced the launch of TON Teleport BTC, a project designed to combine Bitcoin liquidity with the TON ecosystem and Telegram user base. Here are some key information about TON Teleport BTC:
1. Function and purpose: TON Teleport BTC brings Bitcoin directly to Telegram as tgBTC through TON, allowing users to send and receive Bitcoin without an exchange or custodian. It combines the security of Bitcoin with the scalability of TON to achieve efficient and low-cost cross-chain interoperability and promote the application of Bitcoin in DeFi, including staking, lending, and liquidity mining.
2. Technical implementation: TON Teleport BTC acts as a decentralized bridge to achieve secure and intermediary-free Bitcoin transmission. The platform uses smart contracts to process transactions, ensuring that users maintain full control of their assets. Each transaction will be backed 1:1 by native Bitcoin, protecting the original assets while enabling users to participate in various DeFi activities.
3. Security and decentralization: TON Teleport BTC ensures a high degree of security and decentralization. Each Bitcoin deposit address changes every four hours, which makes possible attacks or manipulation difficult. In addition, the validators who oversee transactions are also rotated regularly to ensure a transparent and decentralized system.
4. User operations: Users can transfer BTC from the Bitcoin network to the TON network through TON Teleport BTC, a process called "peg-in", and exchange tgBTC tokens back to BTC on the TON network, a process called "peg-out".
5. Testing phase: Currently, TON Teleport BTC is in the testing phase (testnet), but developers are already working on launching the final version (mainnet) in the second quarter of 2025.
6. Future plans: TON Teleport BTC's goals are not limited to Bitcoin; future plans include integration with other blockchains, expanding user interoperability and usage options.
Through this innovation, Telegram users will have access to advanced tools to conduct Bitcoin transactions and explore the world of DeFi within the platform, while the system is autonomous, censorship-resistant, and provides full transparency, allowing users to directly verify all transactions.