Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

XRP Lawsuit News: Can The SEC Vote To Continue Appeals Process In Ripple Case?

July 2, 2025

Best Meme Coin to Buy Right Now as 65% of Shiba Inu (SHIB) Holders Sink into Losses

July 2, 2025

Bybit Launches Bybit.eu, a Fully MiCAR-Compliant Platform for Europe's Crypto Users

July 2, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

The Open Network (TON) to launch teleport Bitcoin bridge

0
By Aggregated - see source on July 17, 2024 Crypto News
Share
Facebook Twitter LinkedIn Pinterest Email
  • The Open Network announces plans to launch a bridge to get Bitcoin onto the TON blockchain,
  • The bridge will allow Bitcoin to be used for DefI purposes in the TON ecosystem.

The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for DeFi purposes. The bridged Bitcoin, called Teleport BTC, will maintain the original Bitcoin’s security while allowing holders to take advantage of the growing opportunities on TON.

According to the Foundation, each Teleport BTC will be backed 1:1 by native Bitcoin via a trustless, transparent process chiefly executed by verifiable smart contracts and validators.

This new development aims to “enhance Bitcoin’s utility, transforming it into a powerful tool for generating additional rewards on TON.”

TON’s Growth in 2024

The Open Network, closely linked with the popular Telegram messaging app, has been on an upward climb in 2024 both in price and network development. The network was initially created by the Telegram team for internal use but was abandoned and eventually picked up by the community.

TON made major waves after Telegram re-established contact by using the network to power its ad reward system, which pays channel owners in TON (the network’s native cryptocurrency) for traffic and views.

Outside of Telegram, TON is making a name for itself as a social gaming chain with tap-based casual projects like Notcoin and Hamster Kombat garnering attention.

TON’s Growing DeFi Ecosystem

While TON is not primarily known as a network for decentralised finance, its DeFi ecosystem has witnessed a boom in recent months. According to Defillama, a leading on-chain finance data provider, the total value locked on TON currently stands at $745.96 million as of writing after rising significantly from $22 million at the end of February 2024.

The Open Network plans to launch the Teleport BTC bridge later this year.


Share this article

Categories

Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bybit Launches Bybit.eu, a Fully MiCAR-Compliant Platform for Europe's Crypto Users

July 2, 2025

SEC approves Grayscale’s conversion of BTC, ETH, SOL, XRP fund into an ETF

July 1, 2025

Bitcoin Cash BCH Hits 8-Month High After 75% Rally in 90 Days

July 1, 2025
Leave A Reply Cancel Reply

What's New Here!

XRP Lawsuit News: Can The SEC Vote To Continue Appeals Process In Ripple Case?

July 2, 2025

Best Meme Coin to Buy Right Now as 65% of Shiba Inu (SHIB) Holders Sink into Losses

July 2, 2025

Bybit Launches Bybit.eu, a Fully MiCAR-Compliant Platform for Europe's Crypto Users

July 2, 2025

Ethereum Price Drops After Bullish Attempt — Support Area Under Pressure

July 2, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.