TON Foundation launches #bitcoin bridge on the open network
The TON Foundation has announced the upcoming launch of the TON Teleport BTC, a bridge designed to facilitate secure and trustless Bitcoin transfers to and from the Open Network (TON). This initiative aims to expand the utility of Bitcoin by enabling its use in decentralized finance (defi) activities on the TON platform.
TON Foundation announces Bitcoin Bridge to expand Defi activities
According to the TON Foundation, TON Teleport BTC is set up to provide seamless Bitcoin transfers, ensuring that every Bitcoin delivered to TON is fully backed by actual Bitcoin (BTC). This will enable users to engage in activities such as lending and decentralized exchange (dex) trading on TON without relying on central intermediaries.
TON developers revealed that transactions will be executed via smart contracts and verified by TON blockchain validators, with the aim of enhancing security while reducing costs compared to traditional BTC transactions. “TON Teleport BTC paves the way for future integrations, paving the way for a truly interconnected blockchain ecosystem,” the team on X stated.
