The Open Network (TON) Foundation, the management unit of the Telegram-based blockchain network TON, announced that a new infrastructure aimed at increasing the use of Bitcoin on its platform will soon be put into service.
The new infrastructure, called TON Teleport BTC, is designed to facilitate transfers between Bitcoin and TON. Its primary purpose will be to expand Bitcoin's uses within the TON ecosystem, particularly with respect to decentralized exchanges, lending protocols, and other DeFi tools.
TON's technical manager Anatoliy Makosov explained the functionality of the new feature in his statement. “You can now transfer Bitcoin to TON and back using TON Teleport,” he said, adding: “This decentralized and secure technology works without intermediaries or borders. All transactions are carried out through smart contracts and verified by TON blockchain validators.”
Makosov also noted the security and convenience of the new feature, saying: “Storing and using Bitcoin on TON is as secure as the Bitcoin network itself, but significantly cheaper and more convenient.”
*This is not investment advice.
