TON Teleport lets users transfer BTC between the Bitcoin blockchain and TON without using central intermediaries.
The TON Foundation has unveiled a new feature called “TON Teleport BTC,” which allows users to transfer Bitcoin seamlessly to the TON Blockchain. This innovative bridge aims to improve Bitcoin’s functionality by integrating it with the secure and scalable network of TON.
TON Teleport is an essential infrastructure project within the TON ecosystem. It lets users transfer BTC between the Bitcoin blockchain and TON without using central intermediaries. Each bitcoin on the TON blockchain is fully backed by actual bitcoin and is protected through a process called teleport. This system ensures that transactions are both secure and reliable.
How TON Teleport Transfers Bitcoin
The process is automated with the help of network validators and smart contracts. This automation reduces the chances of human error, censorship, or fraud. By removing intermediaries, the system increases security and gives users more transparency and control over their cryptocurrency.
In the TON Teleport system, users send Bitcoin to a specific Bitcoin address. After the transaction is confirmed, an equivalent amount of BTC is credited to their address on the TON blockchain. These tokens can then be used in various decentralized applications (dApps) on TON or exchanged back for Bitcoin on the Bitcoin network. Users who want to reverse the process can burn their BTC tokens on TON to get their original Bitcoin back.
Ryan Dennis, Head of Communications for the TON Foundation, explained that TON Core Developers and RSquad Blockchain Lab have created a trustless architecture to ensure Bitcoin is securely backed. They use advanced technologies such as FROST and distributed key generation to protect user assets and avoid a single point of failure.
TON Teleport BTC is set to enhance the DeFi sector on the TON Blockchain by enabling new financial tools and products like decentralized exchanges (DEXs), lending platforms, and advanced wallet services. According to the foundation, this integration will transform Bitcoin from a simple stored asset into a powerful tool for generating additional returns.
Additionally, the design of TON Teleport BTC paves the way for future systems that could connect TON with other EVM-compatible networks. This demonstrates its potential for broader blockchain integration and could lead to a new era of connectivity and innovation within Web3.