TON Unveils Teleport BTC Initiative to Tap Into Bitcoin's Blockchain and Expand BTC's Utility Within Its Ecosystem

The Telegram-based TON Foundation has unveiled a new infrastructure initiative designed to tap into Bitcoin's blockchain, aiming to expand BTC's utility

output: A Telegram-based crypto project has unveiled a new infrastructure initiative to tap into Bitcoin's blockchain, aiming to integrate BTC into its ecosystem.

The TON Foundation, steward of the Telegram-focused Open Network (TON), announced on Thursday the launch of TON Teleport BTC, a bridge to integrate Bitcoin (BTC) into its blockchain. This move is set to expand the utility of BTC within the TON ecosystem.

Launched in 2018 by Telegram, TON is a proof-of-stake Layer 1 blockchain that boasts fast transaction speeds and low fees. The network is designed to host decentralized applications, aiming to capitalize on Telegram's vast user base.

Despite the TON project's Telegram origins, the blockchain is fully open-source and independently governed by the TON community. Telegram itself does not hold any tokens or participate in the TON network's governance.

Historically, most blockchains have operated in isolation, lacking the ability to communicate with each other. This has resulted in a fragmented ecosystem where assets are confined to their native networks.

For instance, BTC, being the native asset of the Bitcoin blockchain, cannot be directly used or transferred on other blockchains without additional steps. This poses a challenge for users seeking to utilize their BTC holdings in a broader DeFi ecosystem.

To address this limitation, several initiatives have emerged, aiming to connect different blockchains and facilitate the cross-chain movement of assets. One notable example is the Ethereum Virtual Machine (EVM), which enables the creation of ETH-compatible tools and connectivity with Ethereum's mainnet.

Another approach to achieving blockchain interoperability is through the use of blockchain bridges, which allow users to transfer digital assets between different blockchains. These bridges typically involve locking the asset on one chain and minting a pegged version of the asset on the other chain.

The TON Teleport BTC builds on this concept, aiming to integrate Bitcoin, the largest cryptocurrency by market capitalization, into the TON ecosystem. This move is set to enhance the liquidity and utility of BTC within the TON network.

According to the TON Foundation, this bridge will allow users to deploy BTC on native on-chain exchanges, lending platforms and other popular decentralized finance (DeFi) platforms within the TON ecosystem.

This initiative is part of a broader strategy by the TON Foundation to expand the Open Network's footprint in the crypto space. The network has seen substantial growth this year, fueled by the popularity of Telegram mini-games such as Notcoin (NOT) and Hamster Kombat.

As a result, TON's native token has ascended to the ninth position among all digital assets, boasting a market cap of over $18 billion. The network also has direct access to over 900 million global Telegram users and recently achieved 470,000 active wallets.

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