TL;DR
- The new Cross-Bridge will allow transferring Bitcoin to and from the TON blockchain in a secure and efficient manner.
- The decentralized, transparent, and trustless solution ensures the security of digital assets and facilitates participation in DeFi activities.
- Its popularity, driven by games like Hamster Kombat, has significantly increased the value of the native token, Toncoin, which has reached $7.22.
The TON Foundation has announced a significant advancement with the upcoming launch of its Cross-Bridge service, TON Teleport BTC. This innovation will allow users to transfer Bitcoin to and from the TON blockchain, providing a new way to manage assets securely and efficiently.
The new ‘Teleport’ is a decentralized, transparent, and trustless solution designed to ensure the security of digital assets while facilitating participation in decentralized finance (DeFi) activities. Users will be able to access decentralized exchanges (DEX), DeFi applications, and lending platforms within The Open Network.
Want to unlock new potential for your Bitcoin ₿ on #TON? 👀
🔈 Introducing TON Teleport BTC, aiming to enhance Bitcoin utility on TON!
Dive into this thread to learn more 🧵⬇️ pic.twitter.com/M9gmUElvaJ
— TON 💎 (@ton_blockchain) July 17, 2024
Anatoliy Makosov, their technical lead, has highlighted that this infrastructure will offer limitless technology within the ecosystem. All transactions will be backed by blockchain validators and executed through smart contracts, eliminating the need for intermediaries. This will ensure the security and reliability of transactions. Additionally, it reduces costs and increases convenience for users who wish to store and use BTC. Each Bitcoin transferred through the ‘cross-bridge’ will be backed by an equivalent BTC during the bridging process, ensuring transaction security.
The Rise of TON: Telegram Games
In addition to the launch of the cross-bridge, its blockchain has managed to grow steadily and gain popularity thanks to Telegram-based games that use the Play-to-Earn mechanics. The game Hamster Kombat has captured the attention of millions of users, achieving exponential growth in a few months. Its success has boosted the value of the network’s native token, Toncoin, which is trading at $7.22, attracting both players and investors.
Hamster Kombat has more than 10 million users since its launch and also saw a massive increase in its YouTube presence, with over 20 million new subscribers in a few weeks. The anticipation for future airdrops on the TON blockchain has kept the community excited, especially after the success of Notcoin’s airdrops.
Thanks to these new developments, the foundation will be able to position its blockchain in a prominent place in the industry, offering technological innovations and attractive opportunities for both investors and players.
