TON, the Layer-1 network launched in 2017 as an original project of the messaging service Telegram, has recently satisfied many investors and is considered a promising candidate for the bull run. The TON Foundation, which supports TON's Open Network, is now introducing a new bridge with TON Teleport BTC. This bridge should enable secure Bitcoin transactions on the TON Blockchain.

TON Teleport BTC

TON Teleport BTC: Secure and Transparent According to the TON Foundation, the new bridge will allow Bitcoin holders to participate in DeFi activities on TON while maintaining the security of their original assets. "All transactions are handled via smart contracts and verified by TON blockchain validators," said Anatoliy Makosov, the technical leader of TON, in a statement to The Block. "Storing and using Bitcoin on TON is just as secure as on the Bitcoin network itself, but significantly cheaper and more convenient." According to the Foundation, each Bitcoin on TON is fully backed by actual Bitcoin, anchored by the Teleport process to ensure secure transactions.

With TON Teleport BTC, Bitcoin holders can now use it all DeFi applications in the TON ecosystem. So among other decentralized exchanges, crypto-loaning and other DeFi services. This gives Bitcoin users completely new opportunities to use their assets "differently," without compromising on security.

Integration of stablecoins and increasing acceptance

The TON network is growing. Recently announced Binance support for the stablecoin Tether (USDT) in the TON ecosystem, allowing deposits and withdrawals of USDT since June 21. Earlier, Tether, the company behind USDT, had announced in April at Token2049 in Dubai that its leading stablecoin would be on the TON Blockchain. In February, Telegram had announced plans to share advertising revenue with channel owners and pay out rewards with Toncoin. Telegram had already adopted TON technology for other functions within its platform and integrated the TON crypto wallet last year.

Particularly popular are projects such as Notcoin (NOT), which are Telegram-based and boost the TON ecosystem. The same goes for some blockchain-based games such as Hamster Kombat and Catizen. Thanks to these games, TON saw a dramatic increase in the number of user addresses, with nearly 470,000 active addresses on July 18.